Down More Than 10% After the Halving, Is Bitcoin Still a Buy?
At the time of the halving on April 19, Bitcoin (CRYPTO: BTC) was trading around $65,000. It's now trading under $60,000. This wasn't supposed to happen, given that halving events have historically been very bullish for Bitcoin. Since its peak of $73,750 on March 14, Bitcoin is down nearly 20%.
That officially qualifies as "dip" territory, so the obvious question becomes: "Should I buy the dip on Bitcoin?" While there is definitely reason to be concerned about Bitcoin's recent performance, there are two key factors in Bitcoin's favor right now. Let's take a closer look.
Admittedly, investor inflows into the new spot Bitcoin ETFs have slowed since their early scorching pace. But that was to be expected. Investors will be a lot more cautious about putting their money into an ETF if the price of the underlying asset is declining. That's true for any ETF, not just a Bitcoin ETF.
Source Fool.com
