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“Buy the dip, sell the News” is a famous phrase in investing which advises investors to buy when the price is low and then sell their investments when they hear about it on the news, and from the looks of it, it appears now is the right time to buy.
It’s no secret that these past few months the Bitcoin price has been experiencing a lot of volatility with a general downtrend, however, several expert cryptocurrency traders have reason to believe that is all about to change, and that this is the best Bitcoin price point to buy. Here is why.
The first shout out comes from VaidoVeek, a professional financial markets and technical analyst who specializes in cryptocurrency and forex trading. With over 32,384 trading likes and a reputation that exceeds 41,500 on TradingView, VaidoVeek managed to win the trust of more than 11,183 trading followers. VaidoVeek managed to predict the Bitcoin price on several occasions, including the bump in price from $9750 on September 15th 2019 up to $10944 on September 20th (as shown in Figure 1).
VaidoVeek is now expecting another bump in price which is expected to take Bitcoin back towards an uptrend in the BTC price to $7,650 as sjown below in Figure 2.
According to RSI indicator it also appears that Bitcoin is just above being declared ‘underpriced’, which would indicate that, according to historical data, the price should be higher. If we take a look at Google Trends, we can also see that it’s highly likely we’ll be experiencing an increase in trend very soon.
The trick is to buy it now at low a price and sell it when the price is higher. To get started it’s very simple if you follow these steps:
Make sure the following options are selected:
When you open the trade, you can navigate to your portfolio and there you’ll see how your trade is performing. You’ll note the trade is with a 3% loss due to the spread imposed be eToro, but eventually when the price increases it will turn to a profit.
Some things to keep in mind are: