Crashed 28%: Is It Time to Buy the Dip on the Legendary Crypto Up 23,000% in a Decade?

Crashed 28%: Is It Time to Buy the Dip on the Legendary Crypto Up 23,000% in a Decade?

Bitcoin has seen wild ups and downs. Right now, it’s from its recent peak. Many investors wonder: ? This crypto king has grown . That’s huge! From small change to big money. But with the recent drop, is now the time to jump in?

In this post, we break it down simple. We look at Bitcoin’s past wins, why it fell, what experts say, and if it’s a smart buy. If you like crypto, keep reading. You might find your next move.

What Made Bitcoin Skyrocket 23,000% in 10 Years?

Ten years ago, Bitcoin was cheap. In 2014, one BTC cost about $300-$600. Today, it’s over $50,000 even after the dip. That’s over 100 times growth. Some count it as <23,000%> from lowest points. Crazy, right?

• 2017 Boom: Bitcoin hit $20,000. Everyone talked about it.
• 2021 Peak: It reached $69,000. Big companies like Tesla bought in.
• Halvings: Every 4 years, new BTC supply cuts. This pushes price up.
• Adoption: Now, countries like El Salvador use it as money. ETFs approved in USA.

Bitcoin went from nerd toy to global asset. Banks, funds, and millionaires hold it. That’s why happened.

Why Did Bitcoin Drop 28% Lately?

Markets go up and down. Bitcoin is no different. Recent comes from a few things:

1. Interest Rates: US Fed raised rates. Money got tight. Risky assets like crypto fall.
2. Inflation Fears: High prices make people sell high-risk stuff.
3. Profit Taking: After big run-up, traders sell for gains.
4. News Events: FTX crash last year still echoes. Regulators talk tough.
5. Tech Sell-Off: Nasdaq dropped. Bitcoin follows stocks sometimes.

From $73,000 high to $52,000 low. That’s the <28%> dip. Normal for Bitcoin. It has bounced back many times.

Buy the Dip: What Does History Say?

means buy when price falls. Smart for long-term holders. Look at Bitcoin history:

Year	Peak Price	Dip %	Recovery Time
2018	$20,000	84% down	3 years to new high
2022	$69,000	77% down	1.5 years recovered
2024	$73,000	28% down	?? Ongoing

Every big dip led to bigger highs. is small compared to past. Holders who bought low got rich.

Strong Reasons to Buy Bitcoin Now

Don’t just chase hype. Here are solid facts:

1. Bitcoin Halving Coming Soon

Next halving in 2024. Miners get half rewards. Less new BTC. Price often jumps after. Last three halvings: +300%, +800%, +500% gains.

2. Spot Bitcoin ETFs

USA approved ETFs. BlackRock, Fidelity sell Bitcoin funds. Billions flowing in. Institutions buy big.

3. Global Money Issues

Dollar weak. Wars, debt high. Bitcoin is ‘digital gold’. Safe from inflation.

4. Network Growth

More users, transactions. Lightning Network fast and cheap. Adoption grows.

5. Supply Shock

21 million BTC max. 19.5 million mined. Big players like MicroStrategy hold tons. Less for sale.

These make smart now.

Risks You Must Know Before Buying

Not all sunshine. Be real:

• More Drops: Could fall to $40,000 or lower.
• Regulations: Governments might crack down.
• Competition: Ethereum, Solana grow fast.
• Volatility: Price swings wild. Not for weak hearts.

Only invest what you can lose. Do your own research (DYOR).

Technical Analysis: What Charts Show

Charts help predict. Bitcoin now:

• Support: $50,000 strong level. Holding there.
• RSI: Oversold. Means bounce soon.
• Moving Averages: 200-day MA rising. Bullish sign.
• Pattern: Inverse head and shoulders. Breakout possible.

Many traders see $100,000 by end 2024. might end soon.

How to Buy the Dip Safely

Ready to act? Steps:

1. Choose Exchange: Binance, Coinbase, Kraken. Secure ones.
2. Secure Wallet: Hardware like Ledger. Not on exchange.
3. Dollar Cost Average (DCA): Buy bit each week. Not all at once.
4. Start Small: 1-5% of portfolio.
5. HODL: Hold long-term. Don’t panic sell.

What Experts Think

Big names bullish:

‘Bitcoin is the best performing asset ever.’ – Michael Saylor

‘$100k Bitcoin this year.’ – Standard Chartered Bank

Even after , pros say buy.

Final Thoughts: Should You Buy This Dip?

Bitcoin’s shows power. Current is a chance. Fundamentals strong. Halving, ETFs, adoption push it up.

If you believe in future money, . But risks real. Only your money, your call.

What do you think? Buy now or wait? Comment below!

Stay tuned for more crypto tips.

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Disclaimer: Blockmanity is a news portal and does not provide any financial advice. Blockmanity's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Blockmanity won't be responsible for any loss of funds.

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