While BTC fell following the approval of the Spot Bitcoin ETF, there was a lot of speculation about the price. On the one hand it is said that the decline of BTC will not continue, on the other hand it is said that the decline will continue.
Speaking on CNBC as speculation about Bitcoin’s price mounted, Bernstein senior analyst Gautam Chhugani advised investors to buy Bitcoin.
At this point, the Bernstein analyst recommended that investors buy into Bitcoin’s dip and focus on the “new cycle of Bitcoin adoption.”
Reminding investors that they should think about Bitcoin long-term, the analyst said:
“Our simple advice to all investors is to buy on the dip and focus on the new cycle of bitcoin adoption.
“Given Bitcoin’s upcoming upward moves, small sell-offs and dips represent buying opportunities.”
Bernstein said in a report published in November last year that he expected the price of Bitcoin to reach $150,000 by 2025. Analysts led by Gautam Chhugani explained in the report that these predictions were due to optimism regarding the expected approval Bitcoin ETF commercial.
Bitcoin continues to trade at $42,770 at the time of writing.
*This is not investment advice.
