Cryptocurrency analyst calls market problems the best time to buy bitcoin

Cryptocurrency analyst and experienced trader Tonny Weiss believes that the current market problems are the best time to buy bitcoin.

According to Weiss, the latest correction in the BTC gives bulls a great opportunity to buy the largest cryptocurrency by market capitalization at reduced prices. According to the expert, investors were frightened by the news that the U.S. Securities and Exchange Commission (SEC) had filed a lawsuit against Binance and its CEO Чанпен Чжао" href="https://noworries.media/biography/chanpen-chzhao/" data-bio-id="3681">Changpeng Zhao, which caused the BTC rate to fall.

«I'm still convinced that the SEC and Binance litigation is a favorable situation to buy on the dip. The decline in the value of BTC is related to the news, people panicked a bit,» the analyst emphasized.

At the time of writing, bitcoin is trading at $ 26,504, down only 0.3% overnight, which can be considered a good result compared to the beginning of the week. Thus, on the night of June 5−6, the flagship cryptocurrency fell by 4% after the news of the SEC’s lawsuit against Binance and Changpeng Zhao.

As a reminder, back in December of last year, Tony Weiss spoke about the possible rise of bitcoin to $ 100,000. Back then, one of the reasons for a possible jump in the price was the financial control of governments, which could result in fiat funds being confiscated or frozen. The trader assumed that if bitcoin fell below the $ 10,000 level, investors would immediately take advantage of it.