Eric Trump Says ‘Buy The Dips’, But Bitcoin May Test $80,000 First, Analysts Warn
Bernstein analysts on Tuesday suggested that Bitcoin‘s (CRYPTO: BTC) correction presents an attractive entry point for long-term investors, particularly if prices dip below $80,000.
What Happened: The report coincides with a public endorsement from Eric Trump, who tweeted “Buy the dips!!!” as Bitcoin experienced market volatility.
The cryptocurrency market suffered a sharp sell-off over the past 24 hours, wiping out $1.48 billion in liquidations as Bitcoin dropped to $87,000.
Bitcoin is currently trading around $86,950, down 8.5% on the day, while Ethereum (CRYPTO: ETH) has declined 9% to trade around $2,370.
Major altcoins are also experiencing significant losses, with Solana (CRYPTO: SOL) and Dogecoin (CRYPTO: DOGE) seeing steep drops. XRP (CRYPTO: XRP) is down 10% on the day.
Bernstein’s analysis acknowledges that Bitcoin is down 15% in the last 30 days and has broken below the $90,000 support level.
What Analysts Are Saying: Analysts attribute the correction to several factors, …
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