As smart money is dug down, Bitcoin and Ethereum come across as valuable purchases in cryptocurrency dips.
Key Point:
Smart money is buying cryptocurrencies and can be a key indicator that the market is likely to recover.
Following the financial leadership of institutional investors, Bitcoin and Ethereum have the potential to become valuable purchases today.
MicroStrategy is buying the current Bitcoin Drop. This shows that the market has long-term positive expectations. This shows that those with a deep knowledge of cryptography, and the general financial markets, are hoping that the cryptocurrency market will be successful in the future.
With this heightened confidence, what are some of the best cryptocurrencies to buy dips in anticipation of the next Bull Run?
Bitcoin (BTC)
In the financial markets, one of the best ways to make money is to follow the movements of the richest players. Thus, now that companies with billions of dollars worth of BTC are buying, it makes sense to follow their move.
Bitcoin BTC / USD is currently trading at $ 19,000. This means 71% off record highs. If Bitcoin’s history goes by, it could be near the bottom.
In essence, if Bitcoin retests its record highs, joining now and holding it for the long term can be a highly rewarding play. Most analysts estimate that Bitcoin will be able to test $ 100,000 in the next Bull Run.
In addition to speculation, there are specific reasons to believe that Bitcoin could push up $ 100,000. For example, the adoption of Bitcoin for investment and payments is increasing.
What’s more, Bitcoin’s supply limit is only 21 million. A significant amount of Bitcoin has already been lost forever, and halving Bitcoin guarantees that the number of coins entering the circulation will slow down over time.
Due to this low supply and increased adoption, Bitcoin has become one of the best cryptocurrencies to plunge and buy and hold for the long term.
Ethereum (ETH)
Like Bitcoin, Ethereum ETH / USD is trading from the latest highs to record lows. Ethereum has barely surpassed $ 1000 since the high of $ 4,800 in November 2021. Despite this price cut, Ethereum’s fundamentals are getting better. For example, Ethereum is currently in the process of transitioning to Proof of Stake. This allows most transactions to be completed on the Layer 2 network, reducing the load on the mainchain.
The impact will be lower gas prices, faster trading speeds, and higher Ethereum adoption odds. What’s more, the Ethereum network is currently in deflation, and when it starts running as Ethereum 2.0, token writing will be accelerated. This means the demand to track the number of tokens that declines over the years.
It’s not hard to understand why Ethereum has growth potential, and it’s one of the best cryptocurrencies to buy in the current cryptocurrency decline.