Why is this the Best Time to buy Bitcoins?
Should we buy Bitcoin now? Is this a great time to buy Bitcoin? These questions are related to Bitcoin’s investment and are often asked by your relatives, friends, and colleagues. So, how do you answer? If you are looking for a straightforward and honest answer, then the best time to buy Bitcoin was yesterday, and the second-best time to invest in a crypto is right NOW. One look at the price history of Bitcoin will reveal all the answers. If somebody had bought a small amount of Bitcoin when it was still new in the market, he or she would be a millionaire today.
Many skeptics would point out that crypto-assets like Bitcoin took a massive tumble in March 2020. But BTC has rallied strongly in the last few days and even rose above USD 12000. It was a huge turnaround considering that it fell to as low as USD 4904 in the middle of March during the height of market uncertainty fueled by the coronavirus pandemic. However, just before the middle of May, Bitcoin was back USD 9000. The world’s largest cryptocurrency rose to USD 12,112 in the 1st week of August but has since to USD 11, 821. The volatility of BTC is real, but it is this volatile nature that promises excellent returns. Since the market is a bit panicky due to the pandemic related issues, it is an excellent time for a thinking investor to take the plunge and stock up on this asset. As the world is fast recovering from the COVID-19 pandemic, the Bitcoin is expected to rise to USD 12000 level and even beyond. So the people who are investing can expect magical returns, which will not be possible to achieve with any other asset class.
People who are not sure about investing in Bitcoin or are concerned about its legal status would be surprised to know that Bitcoin has achieved the official status of money in France and has been accorded the state of a financial instrument in Germany. So the cryptocurrency market is getting stronger by the day and shows great promise. The technology has well developed in the last couple of years, and financial institutions like VISA have partnered with Coinbase – great news for crypto enthusiasts. Bitcoin is not a replacement for fiat currency, but it should be seen as an alternative form of a monetary system.