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Is it a good time to invest in Bitcoin?

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Avatar for josevas217
Written by   13
4 months ago

Hello everyone, I would like to have a conversation regarding the following question that many people frequently ask me:

Is it a good time to invest in Bitcoin?

There is an easily perceptible reality, and it is that the best thing would have been to buy when the BTC was only worth a few cents on the dollar, but no one or almost no one had the certainty that there would come times when prices would reach such figures as the current ones, but if we look at it from its beginning the Bitcoin the only thing it has done is to go up. Of course, it should be noted that it has had its moments of correction, in which many panic and sell quickly, even at a loss.

But, my point is the following, because answering that question is not so easy, or maybe it is, but I particularly think that this project like other cryptocurrencies are still young projects, and that we have to see them more in the long or medium term. Of course, those who are dedicated to trading will obviously tell me that I am wrong, because they buy under other expectations, more short term, but that is their way of buying, or working, because finally trading ends up being a job.

If we start our investment at this moment, buying some amount of BTC, we must know that for now we are at maximum prices, in fact just a few minutes ago, today February 16, 2021, to mark a new record high above 50k... So, is there any chance for it to go down, yes, of course, the same chances for it to go up.

That's why I say that answering that question of whether or not it's a good time to invest is quite complicated. Because it may go down in a few months to 30k, again, but I also believe, and this is what I believe in the most, that it will continue to rise in price, some point to exorbitant prices of 200k, others say that it may reach 400k at some point. But everything is still to be seen.

One thing I am very clear about, and always when I talk to someone regarding cryptos, is that this is a highly speculative environment, which makes it very volatile, and you can't invest money that you are not willing to lose. Yes, it sounds a bit strange that, but it is the reality, because it is better to contemplate it that way, because assuming the case that you buy now, at 49k, but then the price drops to 30 or 40 k, it does not mean that you have lost it, you lose at the time you sell, but surely many will have the need to recover their money as quickly as possible, and will not have the patience to wait for it to at least reach the purchase price again, so as not to lose.

This brings me to another point, do not put money in play that you need urgently, because the periods in cryptocurrencies can be up to years, that is, if it drops abruptly in price, it could be a few years before we return to current levels. Of course, I am speaking based on what I know, from this recent experience from December 2017 until now, it may be that the next bull run or uptrend, once we are out of this one, may not take so long to come, or better yet, it may be that this trend will continue for a few more months, everything is in to be seen, really.

To conclude, the first thing you should do before investing is to investigate, do not just join the trend and that's it, because it is not always the best thing to do.

This is not a financial advice, you must make your respective inverstigaciones before investing in any project.

Thank you very much for reading me.

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Avatar for josevas217
Written by   13
4 months ago
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When I was going through this write, I felt like I should just steal this whole article and go show to my friends so they can understand what I have been saying to them... Nice article bro keep it up

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