As Chinese crypto enthusiasts reel in from the crypto ban there have been talks that they are planning to buy more on the dip and wait for a market correction. A survey was conducted on Weibo, a popular Chinese social media app.
According to the survey the people are waiting for the BTC to reach $18k or the $15k mark. 8% said that they are waiting for the BTC to come to the $18k mark while a whopping 26% said that they are waiting for it to come below $15,000.
But 40% agreed that they will get into the crypto space once again if BTC falls below $10,000. Although it might be far-fetched but nothing is impossible. Bitcoin was supposed to cross the $100k mark, but the Ukraine-Russia war and the ban on crypto by China made sure that it did not happen.
Chinese investors have been extremely cautious when it comes to investing in cryptocurrencies and are waiting for the best moment to do that. The bear market is in full swing, and investors are being much more careful with their money and looking for the best dip to invest in. Since prices will keep going down, they will also be able to invest for better returns.
Another poll that was held in July showed that 60% of the people will invest in Bitcoin if it went under $10,000. With two polls indicating people’s interest in BTC, it is highly likely that there is a chance it might go down even more.