Is it a good time to buy bitcoin

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Avatar for cryptounique
3 years ago

Bitcoin just passed 18k and currently trading around $17800 with a lot of resistance to pass that mark if it crosses the resistance the next will be the all time high of bitcoin price since its last time high in 2017. Here I will list out why this is the rite time to buy.

Disclaimer: I am not your financial adviser and all information available below are for purely educational purposes. Please verify all of the Information before using it and don't make any investment decision except upon the advice of a professional financial adviser. Past performance is no guarantee of future results. The value and income derived from investments may go down as well as up.


Welcome to cryptounique now, pls consider subscribing for more information like this. Now lets jump rite into the moon.

At the time of writing this blog, bitcoin's price surpassed $18k and currently trading around $17,800. So the question comes is it a good time to buy bitcoin? A million dollar question. I will try to answer that question for u as simple as possible for casual investors like u and me who don't know more technical knowledge abt graphs and so many other things.

Lets take the negative value first what happens if u buy the bitcoin and the price drops, if the price drops below $17k unlike 2017 where the price dipped so low to $3500 it will not happen now. The price will still dip and will trade around $14,500. lets just say its everyone's assumption if the price dips even further no can do anything abt it. Nothing is certain in crypto world.

Lets throw the negative things surrounding bitcoin away and look at the positive side surrounding bitcoin and why I think its still not too late to invest in bitcoin.

Mass market adoption

If u look at 2017, u will see that there is no mass market adoption in crypto world. people say that bitcoin is the new currency of the world blah blah blah and no one seems to understand the most basic things abt crypto currency. For most people other than crypto investors, bitcoin is just a form of black money and terrorist are using that to go under the radar of any govt. Its not true 100%, if u see even though bitcoin is a peer to peer network u can still view the transaction just like traditional methods it just doesn't show every inch of detail public.

At present, things have changed more people seem to understand crypto well and regular everyday investors are more involved in crypto than ever before. This mass market adoption helps to pull the bitcoin up only. As everyday people use bitcoin there is only a small chance that it will fail.

Institutional investors

In 2017, the price of bitcoin only go up due to pure speculation and hype. In 2017, no big companies are invested in bitcoin they just watched the market from aside. This is not the case today as big companies all over the world and rich people have started to invest in bitcoin.

Some notable companies include square which is owned by twitter CEO Jack dorsey and Micro strategies and Mexico's second richest man Ricardo Salinas Pliego  has revealed that 10% of his “liquid portfolio” is invested in Bitcoin (BTC).

Marketcap and trade volume

If u look at the bitcoin market cap it is around "$337,340,615,500". It is massive rite and if u look at the day to day trade volume of bitcoin "$39,194,028,555" it is thrice as high as 2017. These are indicators that more no of people are trading bitcoin world wide which leads to price boost.

New bitcoin mined

If u look at 2017 there are more no of bitcoin available to trade and available on open market and in exchange and more no of bitcoins are mined everyday. A individual person holding the bitcoin was low. That is also a reason why after the bull market the price dipped to low.

In the current scenario, everyday mined bitcoins are very low because as more people starts to mine the less bitcoin u get for mining. And huge no of bitcoins are taken away from big exchanges like binance, coinbase etc by big institutional investors and also regular investors like u and me. So there is a scarcity in available bitcoin. It leads to the basic economy 101 if there is a need for a product and it is scarce the price will go high.

Analyst

If u look at what analyst and big investors say u can understand that it is true. lets look at some prediction by analyst.,

Citibank General manager says btc will hit an all time high of $318000 next dec, u can look at the article here.

Mike Novogratz a famous bitcoin investor and analyst says btc will surely $65k by the end of next yr.

Summary

By looking at the above mentioned information and my own thought I think btc will surely high rocket to a all time high next yr. So should u buy btc now? well i would say it all comes down to personal preference I can only list out why it will moon it all comes down to u.

If u want to knw what are the ways u can get your hands on a bitcoin feel free to visit here.

If u need to know abt other crypto currency project other than bitcoin visit here.

If u are new to crypto world and want to know how to get cryptos for free visit here.

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3 years ago

Comments

আমার প্রান প্রিয় সুন্নি মুসলিম ভাই বোনদের জানাই মহা পবিত্র দিন জুমাবারের জুম্মা মুবারক।আল্লাহ্ পাক যেন সকল সুন্নি ভাই বোন দের সকল ধরনের বিপদ আপদ থেকে হেফাজত রাখেন।আমিন♥♥♥♥

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3 years ago

You have the best post. We always get the best information from your post regarding Bitcoin.

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3 years ago

Thank you:) i will try to provide u more quality articles

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3 years ago

Nice and good post

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3 years ago

Nice post dear friend

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3 years ago

I will take a chance on Bitcoin and buy more if I can. Will definitely remember not to put all my egg in single basket lol. I remember buying bitcoin at its peak and lost a lot 😓 Never again.

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3 years ago

never invest what u cant afford and constantly watch market movements and never do anything in FOMO

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3 years ago

Maybe for those who are risk taker. But not for me. I think there will one more big dip

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3 years ago

dont try to invest all the money u have if u do that it will be major risk as u say invest your money like say 10 bucks now and see how the market is going and invest later in this way u are mitigating your risk if u dont invest anything and the price goes up u will not have any profi. Thats my idea of course but pls do think of yourself and do your own research and then invest

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3 years ago

Okay. I'll take your advice. Thanks

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3 years ago

I think yes it is the right time to buy Bitcoin

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3 years ago

If your a rsik taker. I think it is still profitable to buy. But like me who have little amount of funds. We are still waiting for the big dip

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3 years ago
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3 years ago

Okay. Thanks. Will check this out

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3 years ago

Bitcoin is a little bit risky, and I am always scared I will lose more money than I make. This article is very well written. Thank you for the advice. This article is very useful.

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3 years ago

This is a great article, I dont think that "Buying high" now isn't buying high. If you are invested in bitcoin, i would like to think that we all believe it will be strong and teh future, so any spare purchase you can make now Is a good investment as it will only go up from here!

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3 years ago

Bitcoin cash is the best site to earn money . the main purpose of Bitcoin Cash is to be used as a payment system. Keep writing . Hey please support me and subscribe my account

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3 years ago

Buying high is not very logical. But sometimes worth the risk

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3 years ago

Wonderful if you had a good time with Bitcoin everyone will listen to you for good information that is right mobile to your shoulder

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3 years ago

If you have a good time with Bitcoin, everyone will listen to you for a good information.

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3 years ago

It’s always a gamble to buy high but you never know what might happen. If you want to take the risk you should buy.

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3 years ago

yes it is good to buy

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3 years ago

I'm definitely buying soon enough

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3 years ago

It is a good time to buy it, I believe.

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3 years ago

It's very high to buy BTC now. I have some but very little I wish I bought more before.

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3 years ago

Wait for the dip. He's right to think it won't sink to 3500$ but if it dips to 12K is huge opportunity, although after what we're seeing now probably won't return to 10K never, who knows.

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3 years ago

I think so too it won't go down to 10k seeing the price surge now, I bought last time when the price is around $13k, only a little I wish I made it bigger but long before I hold last june when the price is about $9k I think and I regretted so much because I sold it 🤣🤣 I was scared it will go down further, seeing the price now feels like I am not really lucky that much with my decision lol.

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3 years ago

We missed a huge opportunity at 3500$. Then we entered around 9000$

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3 years ago

Exactly so pity 😔

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3 years ago

It's way too high to buy it now. At least wait for it to dump again even just at least around 13k to 14k level.

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3 years ago

The circumstances surrounding bitcoin as a currency and it's increase are positive and points in the direction of gain for any one who risks to take the opportunity of investing in Bitcoin.

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3 years ago

I think it is a good time to buy bitcoin

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3 years ago

An impressive article, keep it up

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3 years ago