Crypto Experts Back Bitcoin Growth as Strategic Buys Increase

Binance co-founder CZ highlighted the importance of market dips during a broader bullish market.
Price corrections are normal for Bitcoin, claims Fundstrat’s Tom Lee.
Crypto Fear and Greed Index has turned to Neutral from last week’s Greed.

Changpeng “CZ” Zhao, co-founder and former CEO of Binance, recently sent a message to his 9.4 million followers on X (formerly Twitter). The crypto entrepreneur encouraged investors to “buy the dip” and seize opportunities during market downturns.

As per the data from CoinMarketCap, Bitcoin had plummeted by as much as $89,940 on January 13th, its lowest price since November 2024. Bearish BTC predictions have surfaced, with some analysts forecasting a drop to $70,000 in the short term, though they remain bullish long-term.

In an X post, CZ reminded investors that when the market rebounds, they’ll wish they had bought BTC earlier and ignored the FUD. He stressed the importance of holding assets and buying more during dips, essentially taking action when opportunities arise. “Today is earlier than all the days to come,” CZ stated, concluding his post with a disclaimer: “Not financial advice.”

Bitcoin is currently down about 12.46% from its all-time high of $108,000, reached last month. However, Fundstrat’s Tom Lee told CNBC’s Andrew Ross Sorkin that this correction is normal for Bitcoin. He also predicted that BTC will reach $250,000 by the end of the year.

Bitcoin Price Analysis

The Crypto Fear and Greed Index currently sits at 46, indicating a neutral market sentiment. Last week, the index was at 66, signaling greed. Bitcoin’s inability to stay above $100,000 has shaken investor confidence.

Bitcoin’s price action is now at the lower end of the Bollinger Bands, a bearish signal for the market leader. Meanwhile, the Relative Strength Index (RSI) for BTC is at 47.21, which means sellers currently control its price.

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