It is time to be greedy when others are fearful, as the investing and trading legends before us have instructed. The time to buy the dip in Bitcoin and other cryptocurrencies is now.
Doing so has never been easier – it is now possible to buy crypto in just a tap using the award-winning PrimeXBT smartphone app. Here is all you need to know about the easy crypto purchasing feature, along with steps on how to buy crypto using the app.
Bitcoin Crash Corrects Price Back To 2017 Levels
The unthinkable happened: Bitcoin price collapsed from its 2021 highs all the way down to the highs it set back in 2017. With four years of price action erased in a matter of months, the risk versus reward setup is becoming once again too good to pass up.
The crypto market had a necessary unwinding of leverage over the last several months, causing the price of many top altcoins to fall by 90%. Bitcoin dropped a full 75% from all-time highs, and the result was a crypto market in widespread panic.
Inflation concerns, recession fears, and mounting tensions globally have led to an exceptionally bearish stretch in cryptocurrencies and the stock market. Tightened Fed policy was also a contributing factor. But with no recession yet in sight, the selloff served as little more than a reset for investors and traders to take advantage of.
What Happens When The Downtrend Ends?
Buying low and selling high is the way to fast-track profits in cryptocurrencies. Because crypto is a shockingly volatile speculative asset, price swings are especially powerful. When Bitcoin is trending, regardless of the direction, traders better get out of the way or risk being steamrolled.
Bitcoin has spent the last nine months on a downward trajectory but has since been unable to break below $20,000 and is working on establishing strong support at former resistance. With a potential bullish retest in the making and many on-chain and technical indicators suggesting Bitcoin is undervalued and oversold, the time to buy the dip is now.
Buying BTC, ETH, USDT, or USDC is possible using the award-winning PrimeXBT app in just a few taps. Those eager to maximize returns can look into buying crypto now or dollar cost averaging into a position using the app. Bank-grade security infrastructure ensures all digital assets are safely held in cold storage for the long haul.
Buy The Dip With PrimeXBT: A Short Guide
Here is a short summary of how to buy crypto using the PrimeXBT mobile app for Android and iOS.
Step 1: Download The App
To buy crypto using the PrimeXBT app, first, download the app if you haven’t already done so. Note: The app is available via the Google Play Store for Android or the Apple App Store for iOS devices.
Step 2: Register Or Log In
Complete the login steps or the registration process. Choose a four-digit pin and toggle on or off biometric authentication using Face ID, Touch ID, or another tool.
Step 3: Visit The Home Page
Visit the main Home page where the cryptocurrency wallets are found. Select the wallet of the cryptocurrency you would like to purchase.
Step 4: Buy Crypto
Tap the Buy Crypto button, and a window will pop up that explains the related commissions. Fill out the necessary information, and click Buy Now!
You Bought Crypto, Now What? Trade With PrimeXBT
Purchased cryptocurrencies using the app will automatically be deposited into the associated PrimeXBT wallet account from which the purchase was made. Traders can optionally exchange one type of cryptocurrency for another using the built-in exchange tool.
With a confirmed deposit ready to go, users can choose to hold or use digital assets to fund a margin trading account or access one of the many cryptocurrency-based products and services the platform has to offer. In addition to long and short positions on more than 100 different trading instruments, passive investing tools, weekly competitions, and the Covesting copy trading module.
Using the PrimeXBT app, users can access the full suite of tools to trade, follow other traders, become a strategy manager, and much more. Buying crypto is just one of many competitive advantages offered by the platform.
Summary: Time To Buy The Dip Is Running Out
Bitcoin won’t trade at these prices for very long. And once the top cryptocurrency takes off and begins trending in an upward direction once again, you will have either bought the dip or be forced FOMO back in at much higher prices.
Which will it be? Buy crypto now with PrimeXBT, or get stuck chasing the trend when it is already too late.