Pullbacks in the crypto market will provide “buy the dip” scenarios lasting “much longer than everyone expects,” according to Syncracy Capital co-founder Daniel Cheung.
A crypto hedge fund manager says there’s probably going to be more time for traders to take advantage of buying opportunities this cycle, following a plummet across the broader crypto market on the daily price charts.
“There will be intra-month volatility, but the pullbacks likely will be a “buy the dip” scenario for much longer than everyone expects,” Syncracy Capital co-founder Daniel Cheung said in a Dec. 9 X post.
Cheung said that during this cycle, traders have shifted to a “short-term” trading mentality, “constantly looking to take profits.” Over the past 24 hours, the total crypto market capitalization has dropped 5.41% to $3.44 trillion, according to CoinMarketCap data.
