Catching The Exact Bitcoin Bottom Is Dangerous

Don’t Worry About The Bitcoin Bottom
Finding the long-term bottom for the Bitcoin price has been likened to trying to catch a falling knife. Case in point, after trading above $6,000 for much of the summer season, BTC fell drastically in November, as the asset rapidly fell through key support levels that were deemed to be viable contenders for a floor.

Yet, this hasn’t stopped optimistic traders from speculating. Many argue that $3,150, which BTC found itself on December 14th of last year, could likely be the lowest price point the asset will be situated at in the years to come. Thus, these same investors have begun to throw cash their ‘bags’, if you will, as they await the long-awaited ‘moon mission’ that will come with the next Bitcoin block reward reduction (halvening/halving).

Alec “Rhythm Trader” Ziupsnys, however, claims that it is unwise to actively seek the exact bottom. In a recent tweet, the cryptocurrency trader explained that trying to catch the exact bottom is “like trying to pick up a penny in front of a steamroller,” hinting at his thought process that there is a copious amount of risk for a little potential return.

Ask yourself: Would you step in front of an active steamroller in hopes of securing $0.01? I’m sure the answer will likely be no and a hard no at that.