Chinese Investor Ryan Selkis Seems To Agree That It's Best To Buy Bitcoin At This Price

As Bitcoin sinks into the red again – capturing the hearts of many investors – President Nayib Bukele of El Salvador happily announced that he did not miss the drop after all. In contrast, the head of state reports that El Salvador bought an additional 410 Bitcoins for $15 million.

However, is this really the best time to buy dips? According to journalist Colin Wu’s survey of Chinese investors, the majority plan to buy Bitcoin instead of Ethereum during the price drop.

But, what’s more remarkable is out of 3,808 participants, 1,364 people said they would buy into the drop if Bitcoin drops below $30,000. Meanwhile, 1,001 people plan to buy if Bitcoin falls below $25,000. While admittedly the sample size is very small to work with, it shows that many investors are expecting even lower declines.

For his part, Messari founder Ryan Selkis made the announcement when he thought it was the right time to buy Bitcoin. According to the researcher, this would be when the ratio of market value to real value less than 1. Furthermore, Selkis Discuss this would put the Bitcoin price around $28,000 under current circumstances.

So, in a sense, Selkis and most of the Chinese investors who took part in Wu’s survey seem to be on the same page.

Go Go go!

The exchange flow balance for Bitcoin could provide a better overview of what went wrong. From January 20 to January 21, 2022, the flow of exchange capital increased, indicating that people were selling their assets. However, this was later followed by outflows.

At press time, the exchange cashflow balance is 3147.60 BTC, indicating a slight inflow again. It’s worth noting, however, that recent inflows do not appear to be near the levels seen around January 11, 2022. This is a sign that investors are being cautious.

Chinese investor Ryan Selkis seems to agree that it is best to buy Bitcoin at this price 3

Source: Sanbase

I’m calling it

All that said and done, Santiment data has previously shown that investors have been calling to buy at a discount long before the bottom is hit.

Now, the metrics seem to suggest that investors are getting wiser. Despite the extreme level of fear in the market, not many people are acting out of greed. It could be argued that Chinese investors are waiting for lower prices before entering.

Meanwhile, WazirX CEO of Binance, Nischal Shetty also stated that Indian investors are opting for a “wait and see” approach in this round.

At press time, the king coin is trading at $35,487.57.

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