Is the bottom in? Crypto community shares their thoughts
Buying the dip instantly becomes a nightmare when crypto prices go down even further as the bear market continues its onset. However, recent dips show that current prices may potentially be a good entry point for traders. To find out what the community thinks, Cointelegraph asked Twitter to answer the question — is the bottom in?
Could you please stop jinxing my shorts?
— Stoic Trader (@stoic_traders) September 22, 2022From bracing for further impact and waiting for Bitcoin (BTC) prices to go lower to hoping the fun that comes with a bull market goes on, crypto community members shared their thoughts on the crypto prices’ bottom.
Some Twitter users are convinced that it's not yet the bottom. One community member replied to the thread, saying that people should be ready for Bitcoin to go even lower. "This winter will be hard," they wrote. Despite being of the same sentiment that it's not yet the bottom, another Twitter user shows a more positive vibe saying that they just cashed some winners and are waiting for what’s next.
Meanwhile, a community member who wrote “shitcoin maximalist” on their Twitter bio replied to the thread in a jolly manner but was seemingly tired of the crypto crashes. They tweeted:
it's been the bottom for 550 crashes now, but it might not be the bottom woohoo
— MegaFish (@MegaFishest) September 22, 2022Apart from these, another community member also responded with hopes that the recent price dips are already at the bottom. According to the community member, unless the BTC price leaves the $25,000 mark, traders will not know if current prices are truly the bottom. However, the trader hopes that this is it so that "the fun can resume."
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In September, analysts discussed the Bitcoin bottom topic and gave their thoughts in a Twitter space hosted by Cointelegraph. In the talk, Blockware Solutions analyst Joe Burnett said that there are many factors that put pressure on Bitcoin, including government attempts to combat inflation.