3.3 min read
The best BTC buying opportunity
Written byEdna Buckley
January 4, 2023
- While retail investors believe getting into BTC at $16,800 is dangerous, institutional investors and analysts see it differently.
- Bitcoin will grow as its appeal and acceptance in the financial sector increase.
- Wall Street analysts are bullish on BTC, viewing the price of $16,800 as the best investment opportunity.
- It is recommended to be cautious about market trends before going all-in on Bitcoin at the moment.
Bitcoin hovered around $16,800 on Wednesday as the leading cryptocurrency tumbled nearly 60% in 2022. A minority of investors believe that the market is headed for more corrections, which would cause Bitcoin to plummet. Retail investors tend to avoid entering BTC at these levels due to fear of a drop.
While retail investors believe getting into BTC at $16,800 is dangerous, institutional investors and analysts see it differently.
When Is The Best Time To Buy Bitcoin?
Barron’s published a report from Bernstein Research confirming Bitcoin’s outlook for 2023 with Wall Street analysts. According to the report, Wall Street analysts believe that now is the right time to buy Bitcoin.
Wall Street analysts point out how the cryptocurrency market, especially Bitcoin, has bounced back after each low. The report shows that Bitcoin can deliver exponential returns for those who hold it and believe in its long-term prospects.
The report ended on a note of optimism that Bitcoin will grow as its appeal and acceptance in the financial sector increase. Therefore, Wall Street analysts are more bullish on BTC, viewing the price of $16,800 as the best investment opportunity.
"Shopping at Crypto Stress has a perfect track record. Bitcoin has seen two winters in its 13-year history before winter 2022 and has always come back from the lows with exponential returns," Bernstein's Gautam Chhugani and Manas Agrawal wrote in the report.
This is not simply about discounted prices, but it is about the long-term future of the industry. The industry has a great track record of fighting back from its lows and taking punches when down.
However, in 2022, the crypto market faces numerous challenges to push BTC prices to current levels. If there are more unexpected and shocking events in the market in 2023, such as the Terra, Luna, and FTX fiascos, BTC may continue to shrink. It is recommended to be cautious about market trends before going all-in on Bitcoin at the moment.
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