Claiming that Bitcoin (BTC) can fall as low as $ 30,000, John Bollinger sees this drop as an opportunity.
Predicting that the price correction could deepen to $30,000, Bollinger thinks it's a great time to buy more Bitcoin even if Bitcoin drops below $40,000.
"Attention long-term Bitcoin investors. We are being drawn into an important accumulation zone. Once we find support, you might consider adding it here. If not, HODL is open; another opportunity will present itself."
Following this statement by John Bollinger, BTC price touched $39,796.57 on the hourly candle of January 10 at 14:00.
According to data shared by CoinMarketCap, the BTC price has dropped by 10.50% in the last seven days. BTC trading volume has increased by 18.71% in the last 24 hours and the downtrend continues as BTC has lost 11% of its value in the last 30 days.
Bitcoin (BTC) Comment from Famous Billionaire
Investor Bill Miller seems optimistic about Bitcoin (BTC), despite the cryptocurrency hitting several-month lows below $40,000 in early January 2022. As Miller said in a WealthTrack interview last Friday, he no longer sees himself as just a “Bitcoin watcher” but a true Bitcoin bull.
The billionaire investor now holds 50% of his net worth in Bitcoin and related investments in major industry firms such as Michael Saylor's MicroStrategy and BTC mining firm Stronghold Digital Mining. Miller, an early Amazon investor, noted that he owns almost 100% of the rest of his portfolio on Amazon.
The investor said he did not buy until BTC fell to $30,000 after reaching around $66,000 in April 2021.
"After $66,000 this time, I started buying again at $30,000. It was because there were so many more people using it, so much more money coming from the world of venture capital."
The billionaire investor stated that he looks at Bitcoin as an “insurance policy against a financial disaster” and a powerful investment tool that surpasses gold. He also pointed out the scarcity of Bitcoin, meaning that only 21 million Bitcoins can be created.