As Bitcoin's correction continues, investors are wondering if BTC has bottomed out and when it will rise again.
At this point, Bernstein analysts, evaluating the correction in BTC, said that this decline was a buying opportunity.
According to The Block, Bernstein analysts said that the more than 10% price correction in Bitcoin presented a temporary “dip buying opportunity.”
Saying that every decline is an opportunity, analysts said that the rise in Bitcoin will continue, but there will be more consolidation before the halving in April.
Bernstein analysts Gautam Chhugani and Mahika Sapra stated that BTC will continue its bull rally after the halving and included the following statements in the report:
“We believe the current phase of Bitcoin consolidation is temporary and this correction presents a dip buying opportunity ahead of the Bitcoin halving.
We continue to see an 18-month cross-cycle opportunity for Bitcoin and the entire cryptocurrency market.
We expect consolidation in the Bitcoin market before the halving in April, but we expect general bull markets to continue after the halving.
At this point, the correction in Bitcoin and the overall market looks healthy and does not impact our cross-cycle view.
Analysts recently stated that Bitcoin targets have not changed, that is, BTC will go to $ 150,000, the highest level of the cycle, by 2025.
*This is not investment advice.