- Ben Armstrong argued it would be reckless to wait for BTC at $10k.
- Analysts believe the popularity of the $10k notion is a negative indication of its reality.
- Not taking profits at the top and not buying near the bottom are the two things people live to regret, says an analyst.
It is widely believed in the crypto community that Bitcoin (BTC) will drop to the $10k price level before experiencing a significant bull rally. However, crypto influencer Ben Armstrong, creator of BitBoy Crypto, thinks it would be pretty reckless to wait until the $10k price point.
Armstrong advised the crypto community that investing in coins at the current low prices may be a good decision, as being too obsessed with numbers could cause people to miss great investment opportunities. He believes “not taking profits at the top and not accumulating crypto near the bottom” are the two things people live to regret.
A on the #Bitcoin bottom.In crypto, we get so obsessed with numbers… $100k $BTC, $10k $ETH, $1 $DOGE, etc.But what has been more important during the Bitcoin cycles has been the time frame. I nailed the timing for the top on 2021 bull run. Way off on price.1/4— Ben Armstrong (@Bitboy_Crypto) November 23, 2022
Previously, IncomeSharks, a market analyst, contended that if the majority of the crypto community agrees they would buy BTC at $10,000, that is, in fact, a strong indication that Bitcoin would never plunge to $10k. According to the analyst, more buying and less selling would naturally shoot up the price of BTC as per the laws of demand and supply.
Would you buy #Bitcoin at $10k? If your answer is yes you agree that demand increases at lower prices. Meaning more people will be buying and less will be selling (price goes up). Markets price in value and demand. People wanted to sell $BTC at $100k so we didn't get there…— IncomeSharks (@IncomeSharks) October 10, 2022
The two commenters also brought up the point that, despite expectations, BTC never reached the $100k mark in December 2021, just as Dogecoin, the most well-known meme token never hit $1. IncomeSharks concluded:
Who was going to buy at DOGE $.99, knowing everyone was going to sell at $1?
Bitcoin currently trades at $16,600.56, with an over 6% increase in the last 24 hours. Last week, the coin touched a year-low of $15,500 following the bankruptcy of the former second-largest crypto exchange, FTX.
The post Bitboy: Do Not Miss Opportunity Waiting for BTC To Be $10k appeared first on Coin Edition.