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Analysts Strongly Disagree That This Bitcoin Dip Should be Bought, Here’s Why

The crypto markets are currently expressing some levels of stability after experiencing significant selling pressure yesterday that put Bitcoin’s foothold in the $8,000 region in jeopardy. It now appears that BTC does have some levels of buying support in the upper-$7,000 region, although it is unclear if this will be enough to support the price long-term.


Although many analysts have been advocating that traders and investors buy each dip while Bitcoin is in a firm uptrend, this dip may be different, as multiple analysts are now explaining that they do not believe traders should buy in just yet.


Bitcoin Tumbles Below $8,000 as Selling Pressure Ramps Up


At the time of writing, Bitcoin is trading down nearly 6% at its current price of $8,000 and is up slightly from its recent lows of $7,900, which were set late yesterday.

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