Tuesday, 12 December 2017

Is it too late to buy Bitcoin now?

So to best answer this question is to look at the current bitcoin value today which is December 11th Bitcoin is more than 16,000 dollars which is pretty crazy?

All right so to answer this question which everyone wants to hear that is it really too late to buy Bitcoin?

Well let's look at the historical Bitcoin chart so this data captured as far back as May 1st, 2013 before then Bitcoin value was at around 50 cents then it went up to $10 and again at $100 then had an unforeseen situation back in 2013 when Bitcoin had risen all the way as high as $1,000 per Bitcoin and that was back in 2013 before the Mongkok (Hong Kong) riots.

Bitcoin Chart

So let's start in May 1st 2013 when it was first recorded by Coin Market Cap, the Bitcoin value on May 1st was a hundred dollars when it already got a lot of attention among the people at this time which were saying that it doesn't make any sense to buy bitcoin as its value is too high and bitcoin bubble will burst right now which doesn't bring any market participants during this period.

 But let's move to September 22nd, 2013 Bitcoin value was at one hundred and twenty-seven dollars which means $27 more within a couple of months but even at this point big investors were not able to buy bitcoin and still saying that bitcoin is in a bubble therefore its price is rising so we did not see any serious market trading there.

Let's move forward a year after on April 10th, 2014 we have Bitcoin which crossed four hundred dollars and people even at this point of time were saying that its prices are too high and bitcoin bubble will burst in any point of time and stuff like that and therefore even after so much increase in the value of bitcoin there were few people to invest in it.

Let's move further to October 2nd, 2014 we're seeing a correction in Bitcoin as its price fell from $400 to $384 and this continued for a month where people were confused that whether they should invest in bitcoin or its value will go back to ten dollars maybe zero as well.

Back on June 21st, 2015 Bitcoin value was two hundred and forty-four dollars which was its downtime for a year long which resulted in a lot of people not to invest in bitcoin.

Due to its constant fall in prices, many people believed that bitcoin was a joke and it's just a Ponzi scheme in which they were investing which in no time will lose their money.

In this phase of time, people were saying that it is not a stable currency as its prices are too high and if they invest in bitcoin now then it can result in huge loses.

Coin Market Cap

After that for the past few months it stayed relatively stable around three hundred to four hundred and even went to five hundred dollars so we look over to July 9th, 2016 Bitcoin value was at six hundred and fifty-three dollars where people perception regarding bitcoin was changing as they were saying well it isn't a bubble but I'm not gonna buy or invest in bitcoin because of its volatility as this is not a serious cryptocurrency so why should we get into it.

After three months, On November 1st, 2016 Bitcoin value seven hundred and twenty-six dollars which was the highest price for the past four years and a lot of investors already started to buy bitcoin.

 In 2017 which is our current year, bitcoin value was around thirteen hundred dollars recorded on March 5th when this cryptocurrency got a huge recognition among the people all over the world but a lot were still thinking that bitcoin bubble will burst and its nothing but just an online currency with no value.

So do you see a pattern here that people constantly assuming that it's an unstable currency which is not authorized by any government of a country which results in less number of people to invest in bitcoin.

Bitcoin Value

 Alright so let's look at this dip on July 15th of this year Bitcoin was trading at two thousand and fifty five dollars which is pretty high price and therefore people were saying that bitcoin bubble will burst now but Let's move even further on September 20th, when Bitcoin value was at three thousand nine hundred and sixteen dollars while it was in a bubble but did it crash?

NO it didn't because it constantly went high as people started to invest in bitcoin in large which we can see on November 13th, 2017 Bitcoin is at six thousand and eight dollars and still not crashed because of its high demand and popularity.

So we are back to December 11th where today Bitcoin value is at nearly seventeen thousand dollars and guess what people are saying that Bitcoin bubble will burst!

So what I mean to say is it's never too late you can buy bitcoin when its price is dropping or even high but in order to earn huge profits, you have to hold it for a longer period as it's not a short-term investment which can make you richer overnight.

As this is not a financial advice so if you look at past performance and experience of the people according to them Bitcoin was always in a bubble but it never went down to zero so I mean if you really want to invest in bitcoin then don't put your serious money by lending or spending your entire savings into it that's all I have to say right now.

As this involves a high-risk but it also has a long-term profit potential so always invest or buy bitcoin safely.

Good luck and do share your views below on bitcoin!!!

No comments:

Post a Comment