With all the recent drama in the cryptosphere, no one is certain when it comes to the “bottom” price. We heard analysts and experts share opinions that make us even more confused and the market sentiment right now is… how shall we put it… very sentimental. No one knows when is the best time to buy Bitcoin but many still believe in its long term growth.
Since everyone, once again, claims Bitcoin will die, here are some useful methods to go by in case you want to buy Bitcoin for its technological potential.
Buy Bitcoin when others are fearful
If that is not now then I don’t know when it is. During the start of this major bear market, everyone had his hopes up high, claiming one event or another were the reason their lamborghini orders were put on hold. Chinese Cristmas, Consensus and a bunch of other wild guesses, all acted as a catalyst for the fear of the current market.
Remember those people who claimed they would buy Bitcoin at $12.000 when it was around the $20.000 mark? The same people who claimed they wanted to buy at $6000 when Bitcoin was at $12000 price and keep on dropping? Now at 3000 no one buys and they all scream Bitcoin is in a death spiral. No one wants to buy Bitcoin right now because they are afraid.
Buy Bitcoin when the value has gone up, but the price has gone down
Bitcoin is, right now, more popular and necessary than ever. People have started to realise the unfair profiting of exclusive third parties when it comes to the control of our finances. These institutions do not necessarily care about money because they can simply print it. Therefore, they are putting up huge resources and energy to drop the value of Bitcoin, keeping their power model in place. Until now, their efforts have proven to be fruitful.
However, this does not change the fact that Bitcoin is and always will be a decentralised worldwide currency that is free to transport across continents in any amount. The people who “are in it for the technology” understand this. This is why they have decided to hold Bitcoin for a long timeframe, or until a middle ground is found.
Buy Bitcoin when you see strong signals from multiple high quality sources
High quality sources right now are uncertain. This comes after everyone in the field had a price prediction whether that is for the final bottom or the turn of the markets. So far, no expert has been right which proves that their expertise is not always to be trusted.
Since the time when Bitcoin was created, media has been bashing it and telling that it will disapear as quickly as it appeared. But it hasn’t.
A strong signal in the cryptoworld needs to go far beyond a positive event or a development in the space. These have proven to not affect the price in a major way during 2018. Instead, strong signals could be translated in a new phase of mass interest for the coin, which will happen when the media picks it back up. Remember that, whether Bitcoin is manipulated or not, the only way the “big guys” can keep on profiting from the currency is if there is enough interest. And for interest to grow, price will have to grow as well.
Of course, it goes without saying, that this is not financial advice and it should not be treated as such. Our opinions are only an expression of our thoughts.
