Buying the dip instantly becomes a nightmare as crypto prices fall even further as the bear market continues. However, recent dips show that current prices may be a good entry point for traders. To find out what the community thinks, TAUT early Twitter to answer the question: is it rock bottom?
Can you please stop cursing my shorts?
— Stoic trader (@stoic_traders) September 22, 2022
From bracing for further impact and waiting for Bitcoin (BTC) prices to drop to hoping the fun that comes with a bull market continues, members of the crypto community shared their thoughts on the crypto price floor.
Some Twitterers are convinced it’s not the low point yet. A member of the community replied on the wire, saying people need to be ready for Bitcoin to go even lower. “This winter will be difficult,” they wrote. Despite feeling the same way that it’s not bottom yet, another Twitter user shows a more positive vibe by saying she’s just silver plated some winners and wait for what the future holds.
Meanwhile, a community member who wrote “shitcoin maximalist” on their Twitter bio was jolly responding to the thread but was seemingly tired of the crypto crashes. They tweeted:
it’s the bottom now for 550 crashes but it might not be the bottom woohoo
— MegaFish (@MegaFishest) September 22, 2022
Apart from this, another community member also responded with the hope that the recent price drops are already at the bottom. According to the community member, traders will not know if the current prices are really bottoming unless the BTC price hits the $25,000 mark. However, the trader hopes that this is it so that “the fun can resume.”
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In September, analysts discussed Bitcoin’s bottom topic and expressed their views in a Twitter space hosted by TAUT. In the conversation, Blockware Solutions analyst Joe Burnett said there are many factors that are putting pressure on Bitcoin, including attempts by the government to fight inflation.