Investors Advised Not To Buy BTC Now! This Is The Right Date


 "It means that investors don't need to rush because the price of BTC is going to fall again, right?"

The price of cryptocurrency king Bitcoin (BTC) that managed to reach $35,000 has further boosted the confidence of investors to buy the digital asset, but some analysts are advising to back off and wait until December 2023.

In the past six weeks, BTC has seen a significant climb of about 35% which is now trading below $34,600, so here it can be seen that it is a significant development for the follow-on crypto marking the highest weekly close since April 2022.

According to analyst Ali on his X social media account, investors looking to invest in BTC right now should be cautious and consider waiting for a price drop if they don't want to suffer huge losses.

Therefore, Ali expects the next buy signal date to be around December 19, 2023 and the right time to collect BTC may be when the price is at $28,000.

There is no denying that BTC can climb higher if the spot BTC ETF is approved, however it should be noted that there are meetings of the Federal Open Market Committee (FOMC) and the NFP which can have an impact either up or down on the price.

But if both events are as expected, BTC may not see much volatility and continue to rely on $34,700 or break through $35,000, instead a short-term support zone for its price can be found at $33,901 followed by $31,507.

As of this writing, BTC price has recorded a 0.20% gain at $34,446 in the past 24 hours with a market capitalization of $672 billion but still gained 2.06% over the past week.