Why it is ideal to accumulate Bitcoin, Ethereum, Cardano right now
As inflation is easing in the US, investor Ben Armstrong recently suggested viewers to prepare for a bear market, stating, “During the crypto bear market, things will look grim. Scary. But it won’t be anything compared to the stock market....
As inflation is easing in the US, investor Ben Armstrong recently suggested viewers to prepare for a bear market, stating,
“During the crypto bear market, things will look grim. Scary. But it won’t be anything compared to the stock market. That’s going to be a bloodbath.”
The crypto commentator said that deflation can taper off the value of BTC and altcoins to the tune of 80% from their ATHs. Nevertheless, he prescribed, accumulating crypto was the way to go. In the past six months, as inflation was on the rise, in the U.S., several investors stuck to crypto as a hedge against price rise. With a deflationary trend expected by year-end, the commentator suggested not giving in to the FUD.
Historically, inflation has hurt the stock market as it discourages the overall investment in the economy. However, according to Armstrong, most crypto bear markets last 2-3 years, just like the deflationary market. Therefore, he advised,
“Make sure to be accumulating Bitcoin, Ethereum, Cardano, and other top 20 coins during this time.”
In this context, he said that investors can earn gains after the bulls return post-2024 BTC halving. Following a similar sentiment, crypto influencer, Mr. Whale also seemed to suggest that bull market gains increase over time.
If you're investing for the next 10+ years, short-term crashes are opportunities, not threats.
— Mr. Whale (@CryptoWhale) September 18, 2021
Similarly, according to CryptoQuant analysis, it is the perfect time to load BTC when people are in “disbelief.” It is popularly called the “buy-the-dip” strategy, something that the Salvadoran President had also adopted, during the price dip in early September. However, some experts also took an alternative view, calling it a social media frenzy to hike the price.
Siddharth Menon of crypto exchange, WazirX, opined that a very less percentage of investors actually buy the dip. He said,
“Most of us wait for the bottom to buy and top to sell. In reality that is an impossible task. Staying Invested in markets has always been more rewarding than timing the market.”
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Shraddha is a full-time journalist at AMBCrypto. She has a keen interest in personal finance and wealth generation. Her primary focus is on the cryptocurrency space's applications for investment vehicles and portfolios
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