While BTC fell after the approval of the Spot Bitcoin ETF, there were many speculations about the price. On the one hand, it is said that the decline in BTC will not continue, on the other hand, it is said that the decline will continue.
Speaking to CNBC as speculation about the Bitcoin price increased, Bernstein senior analyst Gautam Chhugani advised investors to buy Bitcoin.
At this point, the Bernstein analyst recommended investors buy the Bitcoin dip and focus on the “new Bitcoin adoption cycle.”
Reminding investors that they should think long-term about Bitcoin, the analyst said:
“Our simple advice to all investors is to buy the dip and focus on the new bitcoin adoption cycle.
“Given the upcoming upward movements in Bitcoin, small sales and declines are buying opportunities.”
Bernstein stated in a report published in November last year that he expected the Bitcoin price 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 spot Bitcoin ETF approval.
Bitcoin continues to trade at $42,770 at the time of writing.
*This is not investment advice.