Crypto Currency News

What is the best time to buy bitcoin?

The question is debated even by the most experienced analysts.

To buy or not to buy, that is the question that invades the minds of crypto investors, mainly newbies. When is the time to enter the ecosystem and acquire the first crypto assets? However, the question is not just a question for beginners; it is a question that even the most experienced analysts are debated.

After hitting its all-time high above $ 63,000 in April, the price of bitcoin began to slide toward the $ 30,000 area, more than 50%. However, after several weeks the main cryptocurrency seems to have recovered the path of growth and on June 15 it touched USD 40,000 again. Some assure that it is the beginning of a new bull run; others do not trust and believe that it will go down again. So is it time to buy or not?

While a current of experts affirms that bitcoin remains highly volatile and unstable because it is not regulated and that gold is still the best hedge against inflation and the weakening of the dollar. This line of thinking suggests that the cryptocurrency market is for retail traders who trade on price momentum, both up and down, as well as some corporations willing to risk a portion of their capital.

See also  The 10 largest whales accumulate 20.5% of total Ethereum

The other current of thought, totally opposite, is sure that the best time to buy bitcoin is “now”. I mean, at any time. Perhaps the majority sector of the crypto ecosystem maintains that it is always time to acquire BTC since, beyond the ups and downs, that is, its volatility, the price of bitcoin, in the long run, will always go up.

Protected by the deflationary characteristic of the cryptocurrency created by Satoshi Nakamoto, this group maintains that in the future the price will inevitably rise. There will only be 21,000,000 units (actually less, because several thousand have already been permanently lost), which makes it an asset that can only be revalued.

See also  Bitcoin Price Seeks Support at $ 44,000 to Start Recovery

If we take as a reference August 16, 2010, the day of the first price of BTC, we can see that year after year, the price of bitcoin keeps rising:

August 16, 2010 $ 0.07

August 16, 2011 USD 10.64

August 16, 2012 $ 12.10

August 16, 2013 USD 109.96

August 16, 2014 USD 519.45

August 16, 2015 USD 264.17

August 16, 2016 USD 582.35

August 16, 2017 USD 4,179.23

August 16, 2018 USD 6,090.32

August 16, 2019 USD 10,163.25

August 16, 2020 USD 11,899.00

Bitcoin experts and enthusiasts never tire of trumpeting and suggesting that even when it goes down and crashes, when no one talks about it or appears in the news, and / or when sell-offs start (people panic and sell), it is time to buy. According to this thinking, you always have to buy when it goes down because it will eventually go back up.

See also  The crypto ecosystem will continue to grow and will be even bigger

At the beginning of 2021, from the NGO Bitcoin Argentina they launched the #EsHoraDeBitcoin campaign to raise awareness about the ecosystem, cryptocurrencies and above all to inform novice investors about how to enter the crypto market. At the time, the price of bitcoin was trading around $ 30,000. At the close of this note, it is trading above USD 38,000

Disclaimer: ”The concepts expressed in this note are for informational purposes and do not constitute an investment recommendation.”

Back to top button