Bitcoin (BTC) Below $100K Reignites "Buy the Dip" Trend on Social Media, ATH at $118K Before 2025 Feasible?

The world of cryptocurrencies is in turmoil as mentions of “Buy the Dip” on social media reach their highest level in eight months.

Bitcoin dropped below the psychological threshold of $100,000 on December 19, prompting discussions about buying the dip as the price fell to $95,500. However, is a new ATH at $118,000 before 2025 feasible?

Bitcoin, which recently hit the historic mark of $107,600, sparked discussions about buying at this price level as it dropped to $95,500. Mentions of “Buy the Dip” reached a social dominance score of 0.061, the highest since April 2024, when BTC had fallen below $70,000. Moreover, global searches for “buy the dip” reached a score of 38, the highest level since August 2024.

This increase in mentions of “Buy the Dip” reflects an optimistic attitude among investors and traders, who see this drop in bitcoin as a buying opportunity. However, this trend could also signal increased short-term volatility. Charles Edwards, founder of Capriole Fund, pointed out that the market could become extremely bearish before potentially rebounding, triggering a “short squeeze.”

Current forecasts indicate that bitcoin could well rebound before New Year, with price projections reaching up to $118,149 by December 31, 2024. However, market volatility remains high during this end-of-year period, and investors must remain cautious in the face of potential fluctuations.