Should I buy the Bitcoin dip or wait?

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Last Updated on 10 January 2025 by CryptoTips.eu

Bitcoin, just like the global stock markets, is in a bit of a January slump, falling from $108,000 in mid-December to $91,500 yesterday. At the time of writing, Bitcoin is trading for about $93,700.

The question that logically follows is, should you buy that Bitcoin dip or not? The answer is, as always, twofold.

Advertentie.

Yes, but …

Yes, you should buy the Bitcoin dip because it is indeed possible that Donald Trump will sign an executive order after his inauguration on January 20 which orders the United States to create a ‘Strategic Bitcoin Reserve’.

According to many Trump supporters, he plans to do so and the Trump clan wants to put a figure of around 1 million Bitcoins in the executive order, spread out in group purchases over the next four years.

If true, analysts expect we would see an incredible boost of the Bitcoin price, just like we experienced last November after Trump won the election.

Please note, this rumor has never been confirmed by Trump himself.

No, but …

No, it’s better to wait a little longer because the market is currently flooded with negative reporting (such as that article in The Atlantic and the one in Bitcoin Magazine) and many Whales are waiting for Bitcoin to drop further and find a support line somewhere in the range between $80k and $90k. Even the notion that a Bitcoin bull like Arthur Hayes expects Bitcoin to crash this year as from spring plays into that.

Mind you, in the long term everyone is still very bullish. In the short term it’s unsure..

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
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