Should You Buy Bitcoin While It's Down?
The rally in Bitcoin (CRYPTO: BTC) may not count as a bull market as it tries to shake off the frost from a brutal crypto winter, but the world's most valuable cryptocurrency has more than doubled in 2023. Helping to add to a solid year, over the last few days, Bitcoin mustered enough momentum to break through the $30,000 mark and surge to a new yearly high. Yet even with a fresh rally, sentiment remains overwhelmingly bearish as Bitcoin's price is still more than 50% off of its all-time high.
For now, Bitcoin is teetering between the depths of a bear market and potentially preparing for a resurgence. As it continues to navigate this fine line, there are two reasons investors should treat this as a buying opportunity in preparation of looming unprecedented pressure on Bitcoin's finite supply.
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Source Fool.com
