Is This The Right Time To Buy Bitcoin And Cryptocurrencies?
A look back at a question that keeps coming up.
The year 2019 will have seen the Bitcoin and cryptocurrencies return to a bull market after a very difficult year 2018. While Bitcoin started 2019 with a price around $3,700, it then took off in April to reach a price slightly higher than $5,100.
The improvement was then confirmed in May with a Bitcoin seeing its price reach $8,700 at the end of the month. This increase had continued throughout the month of June until the Bitcoin reached its annual high on June 26, 2019 above $13,300.
The summer then saw a correction and the Bitcoin then saw its price stabilize at around $10,000 at the beginning of September. All this makes Bitcoin the best performing asset of 2019, far ahead of gold or the S&P 500 for example.
From September 21, 2019, the trend reversed somewhat with a Bitcoin that has been falling significantly since then to finally reach $7,400 today when it is October 24, 2019.
The Eternal Question Of The Opportunity To Buy Bitcoin Comes Up Again
Now that Bitcoin is back below $7,500, I see more and more people asking questions like that on forums:
With the current drop, is this the right time to buy Bitcoin and cryptocurrencies?
I have the impression that the question comes up every time the price of Bitcoin and cryptocurrencies drops significantly, to tell the truth.
For me, the answer is always the same and I, therefore, think it is important to write it formally in order to get my message across more clearly:
If you really believe in Bitcoin, buying it for $10,000 was already a real opportunity. The answer is therefore always true with a price at $7,500.
I would also like to add the following:
If you didn’t believe in Bitcoin at $10,000, why would you buy it at $7,500?
Indeed, if you criticized Bitcoin and the volatility of the cryptocurrency market when its price was $10,000, you must have thought it was worthless. In this case, you must imagine that the price of Bitcoin will tend towards 0 in the future.
In fact, if you don’t believe in Bitcoin, you have no interest in buying Bitcoin whether its price is $7,500 or even $4,000!
I think there is actually only one big question you need to ask yourself when deciding whether or not to buy Bitcoin:
Do I believe in the long-term potential of Bitcoin through the revolution it brings to the world?
The question is exactly the same before buying any other cryptocurrency.
On my side, the answer is clearly yes and that’s why I bought Bitcoin. I am convinced of the bright future that awaits Bitcoin in the coming years.
On your side, you should ask yourself the question and not look for the answer on forums because the answer is yours and belongs to you.
It’s up to you now: be part of the Bitcoin revolution or let the revolution pass you by!