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Bitcoin Price Drops, El Salvador Bought The Dip So Which Coins Should We Accumulate?

We have long known that altcoins often follow the trend of BTC. Therefore, when Bitcoin price fell 5% to the current $45,500 region, the crypto market also bathed in blood. Therefore, if BTC fails to hold this level and continues to fall, we will likely see a bear market. Therefore, right now, accumulating coins is a meaningful way. But the question is, which coin should we accumulate when the price falls?

Bitcoin price drops, why accumulate BTC, ETH, and ADA?

September every year is usually the wrong time for BTC. And with inflation easing in the US, crypto enthusiast Ben Armstrong recently suggested everyone prepares for a bear market.

“During the crypto bear market, things will look grim. Scary. But it won’t be anything compared to the stock market. That’s going to be a bloodbath”, he stated.

Deflation can reduce the value of BTC and altcoins as low as 80% of their ATH. However, he insists, accumulating cryptocurrencies is the best way. Over the past six months, as inflation has increased in the US, some investors have stuck to cryptocurrencies as a hedge against the upside. With a deflationary trend expected by year-end, the commentator suggested no concessions to the FUD.

Historically, inflation has hurt the stock market because it discourages overall investment in the economy. However, according to Armstrong, most crypto bear markets last 2-3 years, much like deflationary markets.

“Make sure to be accumulating Bitcoin, Ethereum, Cardano, and another top 20 coins during this time”, he advised.

This is probably a safe choice for everyone, from newbies to veteran traders, because the top coins will often increase quickly, according to BTC, and they are not afraid of the project collapsing at any time. After all, they have had a long development time.

At the moment, he says that investors can make a profit once the bulls return from the 2024 BTC halving.  Also, according to an analysis from CryptoQuant, this is the perfect time to buy BTC when people are in disbelief.

“Most of the time, the answer is just before us. Simple. When most people are in profit – Sell pressure – Bearish. When people are underwater – they are afraid – they sell to strong hands – Bullish. In May, sell pressure was so high, people sold their BTC at a loss. Then, buyers of the last resort stepped in. Now there is confusion. People are not sure. When they are back, it’s going to be too late. It’s time to load”, Caracal from CryptoQuant stated.

bitcoin-price-drops-el-salvador-bought-the-dip-so-which-coins-should-we-accumulate

Source: CryptoQuant

This is a buy-the-dip strategy, which the president of Salvador has also adopted recently. However, some experts also take a different view, calling this a social media frenzy to increase prices.

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