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U.Today - Crypto veteran Anthony Pompliano has identified a rare buying opportunity for less-experienced crypto investors as the crypto market experiences high volatility today.
Pompliano has considered this moment a classic buying opportunity, particularly for small investors, as he urges them to move in contrary directions from professional investors.
Golden buy signal as bears take over
In an X post shared on May 5, the crypto bull issued an uncommon opinion suggesting that now is the best time to buy crypto as bears are increasingly taking over the crypto market.Pompliano emphasized that bearish sentiments among pro-crypto investors have surged to a substantial level, indicating a notable shift in investor stances as the market continues to experience massive volatility.
Pompliano has urged crypto investors to utilize this moment to acquire crypto tokens, as he believes that the bull exits will be followed by strong market rebounds.
As efforts to acquire crypto assets at the best possible prices continue, it is a common practice among buyers to make purchases within certain windows. However, this buying opportunity suggested by Pompliano deviates slightly from popular opinion.
The post received mixed reactions from commenters, as many shared opposing remarks on the statement. One of the commenters disagreed and suggested that this could be bad advice, noting that there is a need to understand the reason behind the bulls’ exit from the market before leveraging it as an opportunity to buy.
While the validity of Pompliano’s post cannot be accurately ascertained, it appears that large investors are actually following the trend, as U.Today reported another massive Bitcoin buy from the popular Bitcoin-focused investment firm, Strategy, earlier today.
Are bulls really exiting?
The crypto market has moved in a negative direction today, as the prices of major cryptocurrencies return to previous lows, causing the broad market capitalization to fall to $2.94 trillion, according to CoinMarketCap.However, overall crypto market trading volume has trailed in the opposite direction, surging by a massive 40.44% over the last day. This reflects an increase in selling activities among large and small investors, fueling high price volatility.
Moreover, many crypto investors are increasingly taking caution and adopting defensive positions amid the recurring price dumps.
LunarCrush metrics show that only 80% of investors are currently bullish on the leading cryptocurrency, Bitcoin. While the metric further suggests a notable drop in investor confidence, it also shows that engagements on the asset have declined to 2,675,213.