{"id":598902,"date":"2024-03-20T23:30:12","date_gmt":"2024-03-20T23:30:12","guid":{"rendered":"https:\/\/ktsl888.com\/?p=598902"},"modified":"2024-06-11T06:55:37","modified_gmt":"2024-06-11T06:55:37","slug":"hold-your-horses-buying-the-crypto-dip-is-still-too-early-warns-top-analyst-heres-why","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/hold-your-horses-buying-the-crypto-dip-is-still-too-early-warns-top-analyst-heres-why\/","title":{"rendered":"Hold Your Horses: \u2018Buying The Crypto Dip Is Still Too Early\u2019 Warns Top Analyst \u2014 Here\u2019s Why"},"content":{"rendered":"

Amid a recent downturn in the broader crypto market, the concept of “buying the dip” has once again surfaced, tempting traders and investors with the prospect of snagging assets at lower prices. However, caution<\/a> is the watchword from Markus Thielen, CEO of 10x Research, a top analyst in the crypto space.<\/p>\n

Thielen’s latest advisories suggest that the current market conditions may not yet be ripe for the optimistic strategy of dip purchasing<\/a>.<\/p>\n

Related Reading: High-Stakes Week For Bitcoin And Ethereum As Central Bank Decisions Approach: Key Predictions<\/a><\/div>\n

The Basis Of Bearish Sentiment<\/h2>\n

Thielen’s recent analysis, released earlier today, underscores a bearish outlook on flagship cryptocurrencies<\/a> Bitcoin (BTC) and Ethereum (ETH), advising that it may be premature to buy the dip.<\/p>\n

This guidance is rooted in a comprehensive approach to market analysis<\/a>, combining analog models, data-driven predictive models, and objective analysis.<\/p>\n

\"Bitcoin
Bitcoin Analog Model. | Source: 10xResearch<\/a><\/figcaption><\/figure>\n

At the heart of Thielen’s cautionary stance is a detailed report outlining the factors contributing to the firm, 10x Research’ bearish outlook on Bitcoin and Ethereum.<\/p>\n

Despite a seemingly attractive price point for these cryptocurrencies, Thielen believes the market has not yet bottomed out, suggesting further declines before any significant rally.<\/p>\n

The report pinpoints $63,000 and $60,000 as critical support levels for Bitcoin. A breach below $60,000, Thielen warns, could precipitate a fall into the $52,000-$54,000 range.<\/p>\n

Yet, despite these short-term bearish indicators, Thielen remains optimistic<\/a> about Bitcoin’s potential, envisioning a climb to heights of over $100,000 within the year. Thielen noted:<\/p>\n

Buying this dip is still too early. Technically, we still expect Bitcoin to trade below 60,000 before a more meaningful rally attempt is started. Based on the previous new high signals, we could paint a rosy picture of 83,000 and 102,000 upside targets, but for the time being, we are more focused on managing the downside.<\/p><\/blockquote>\n

The Crypto Market’s Critical Juncture<\/h2>\n

The current state of the crypto market reflects a tense anticipation of the upcoming central bank announcements from the US Federal Reserve.<\/p>\n

This decision is expected to significantly influence monetary policy and, by extension, the cryptocurrency market. Particularly, insights<\/a> from crypto futures exchange Blofin suggest that the outcome of this announcement could sway market sentiment substantially.<\/p>\n

\"Bitcoin
BTC price is moving sideways on the 4-hour chart. Source: BTC\/USDT on TradingView.com<\/a><\/figcaption><\/figure>\n

Meanwhile, the market reacts in real-time, with Bitcoin slightly increasing 2.4% in the past 24 hours but still showing a notable decline over the past week. Adding to the complexity of the market dynamics are observations from Alex Kr\u00fcger, a respected figure in macroeconomics and cryptoanalysis.<\/p>\n

Related Reading: Bitcoin Might Be Poised For A \u2018Double Pump Cycle,\u2019 Reveals Analyst \u2013 Here\u2019s Why<\/a><\/div>\n

Kr\u00fcger attributes the recent price collapse to several factors<\/a>, including market over-leverage, the negative sentiment ripple from Ethereum, and speculative fervor around certain altcoins. These elements combine to paint a picture of a market at a crossroads, with significant volatility and uncertainty ahead.<\/p>\n

\n

Reasons for the crash, in order of importance<\/p>\n

(for those who need them)<\/p>\n

#1 Too much leverage (funding matters)
\n#2 ETH driving market south (market decided ETF not passing)
\n#3 Negative BTC ETF inflows (careful, data is T+1)
\n#4 Solana shitcoin mania (it went too far)<\/p>\n

\u2014 Alex Kr\u00fcger (@krugermacro) March 20, 2024<\/a><\/p><\/blockquote>\n

Featured image from Unsplash, Chart from TradingView<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Amid a recent downturn in the broader crypto market, the concept of “buying the dip” has once again surfaced, tempting traders and investors with the prospect of snagging assets at lower prices. However, caution is the watchword from Markus Thielen, CEO of 10x Research, a top analyst in the crypto space. Thielen’s latest advisories suggest that the current market conditions may not yet be ripe for the optimistic strategy of dip purchasing. Related Reading: High-Stakes Week For Bitcoin And Ethereum As Central Bank Decisions Approach: Key Predictions The Basis Of Bearish Sentiment Thielen’s recent analysis, released earlier today, underscores a bearish outlook on flagship cryptocurrencies Bitcoin (BTC) and Ethereum (ETH), advising that it may be premature to buy the dip. This guidance is rooted in a comprehensive approach to market analysis, combining analog models, data-driven predictive models, and objective analysis. At the heart of Thielen’s cautionary stance is a detailed report outlining the factors contributing to the firm, 10x Research’ bearish outlook on Bitcoin and Ethereum. Despite a seemingly attractive price point for these cryptocurrencies, Thielen believes the market has not yet bottomed out, suggesting further declines before any significant rally. The report pinpoints $63,000 and $60,000 as critical support levels for Bitcoin. A breach below $60,000, Thielen warns, could precipitate a fall into the $52,000-$54,000 range. Yet, despite these short-term bearish indicators, Thielen remains optimistic about Bitcoin’s potential, envisioning a climb to heights of over $100,000 within the year. Thielen noted: Buying this dip is still too early. Technically, we still expect Bitcoin to trade below 60,000 before a more meaningful rally attempt is started. Based on the previous new high signals, we could paint a rosy picture of 83,000 and 102,000 upside targets, but for the time being, we are more focused on managing the downside. The Crypto Market’s Critical Juncture The current state of the crypto market reflects a tense anticipation of the upcoming central bank announcements from the US Federal Reserve. This decision is expected to significantly influence monetary policy and, by extension, the cryptocurrency market. Particularly, insights from crypto futures exchange Blofin suggest that the outcome of this announcement could sway market sentiment substantially. Meanwhile, the market reacts in real-time, with Bitcoin slightly increasing 2.4% in the past 24 hours but still showing a notable decline over the past week. Adding to the complexity of the market dynamics are observations from Alex Kr\u00fcger, a respected figure in macroeconomics and cryptoanalysis. Related Reading: Bitcoin Might Be Poised For A \u2018Double Pump Cycle,\u2019 Reveals Analyst \u2013 Here\u2019s Why Kr\u00fcger attributes the recent price collapse to several factors, including market over-leverage, the negative sentiment ripple from Ethereum, and speculative fervor around certain altcoins. These elements combine to paint a picture of a market at a crossroads, with significant volatility and uncertainty ahead. Reasons for the crash, in order of importance (for those who need them) #1 Too much leverage (funding matters) #2 ETH driving market south (market decided ETF not passing) #3 Negative BTC ETF inflows (careful, data is T+1) #4 Solana shitcoin mania (it went too far) \u2014 Alex Kr\u00fcger (@krugermacro) March 20, 2024 Featured image from Unsplash, Chart from TradingView  <\/p>\n","protected":false},"author":580,"featured_media":598909,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,441,678,1119,78790,6664,26263],"class_list":["post-598902","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-analysis","tag-bitcoin-prediction","tag-btc","tag-btcusdt","tag-crypto","tag-crypto-analyst"],"acf":[],"yoast_head":"\n\u2018Buying The Crypto Dip Is 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.","sameAs":["https:\/\/x.com\/0xEdyme"],"url":"https:\/\/ktsl888.com\/author\/samueledymeabayomi\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Hold Your Horses: \u2018Buying The Crypto Dip Is Still Too Early\u2019 Warns Top Analyst \u2014 Here\u2019s Why","url":"http:\/\/ktsl888.com\/news\/hold-your-horses-buying-the-crypto-dip-is-still-too-early-warns-top-analyst-heres-why\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/hold-your-horses-buying-the-crypto-dip-is-still-too-early-warns-top-analyst-heres-why\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/03\/\u2018Buying-The-Crypto-Dip-Is-Still-Too-Early-Warns-Top-Analyst.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/03\/\u2018Buying-The-Crypto-Dip-Is-Still-Too-Early-Warns-Top-Analyst.jpg?fit=509%2C339"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Samuel Edyme"}],"creator":["Samuel Edyme"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin analysis","bitcoin prediction","btc","btcusdt","crypto","crypto analyst"],"dateCreated":"2024-03-20T23:30:12Z","datePublished":"2024-03-20T23:30:12Z","dateModified":"2024-06-11T06:55:37Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Hold Your Horses: \\u2018Buying The Crypto Dip Is Still Too Early\\u2019 Warns Top Analyst \\u2014 Here\\u2019s Why\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/hold-your-horses-buying-the-crypto-dip-is-still-too-early-warns-top-analyst-heres-why\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/hold-your-horses-buying-the-crypto-dip-is-still-too-early-warns-top-analyst-heres-why\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/03\\\/\\u2018Buying-The-Crypto-Dip-Is-Still-Too-Early-Warns-Top-Analyst.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/03\\\/\\u2018Buying-The-Crypto-Dip-Is-Still-Too-Early-Warns-Top-Analyst.jpg?fit=509%2C339\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Samuel Edyme\"}],\"creator\":[\"Samuel Edyme\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin analysis\",\"bitcoin prediction\",\"btc\",\"btcusdt\",\"crypto\",\"crypto analyst\"],\"dateCreated\":\"2024-03-20T23:30:12Z\",\"datePublished\":\"2024-03-20T23:30:12Z\",\"dateModified\":\"2024-06-11T06:55:37Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/03\/\u2018Buying-The-Crypto-Dip-Is-Still-Too-Early-Warns-Top-Analyst.jpg?fit=509%2C339","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/598902"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/580"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=598902"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/598902\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/598909"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=598902"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=598902"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=598902"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}