Bitcoin News; The biggest questions on every investor’s mind, especially new entrants, are: Have I missed my chance to buy Bitcoin at a good price? Am I too late to buy bitcoin? Let’s examine the answer to this question together.
Last year was very hectic.
A little over a year ago, Bitcoin was below $5,000 after falling 18.3% in March 2020. The world had decided to ignore BTC for a while. Because a pandemic that ravaged the world has emerged and is still continuing. Countries went into quarantine one after another.
Analysts were giving various predictions on how this would affect financial markets, and some predicted a massive drop in the markets. And they were right. In March of 2020, we saw markets crash and people lose huge amounts of money within hours. But then May drew a completely different picture.
The chart above shows how Bitcoin started to recover in April and May. BTC continued to rise in that period without looking back. Shortly after, Bitcoin came to around $10,000 and many people thought it was too late to buy Bitcoin. Then Bitcoin skyrocketed to $20,000, and most people thought they were late again. The same thing happened over and over again until we hit $60k, and now we’re just over $37,000.
Why does it make sense to buy Bitcoin?
There are a few things that can be cited as good reasons to buy Bitcoin:
- It is independent of other asset classes.
- It is a new asset class.
- Given that it is a digital currency, it is not subject to inflation or devaluation as fiat currencies are.
- It is a good store of value.
- It is not governed by authorities.
- Why is buying Bitcoin unreasonable?
Of course, there are also disadvantages to buying Bitcoin. They are like this:
- The price is very volatile.
- As well as being in existence there is no real world application yet.
- It is subject to more manipulation than any other entity.
- It has storage and security issues due to being the target of hackers.
- Bitcoin transactions are irreversible.
- Despite being nearly a decade old, the technology behind Bitcoin is still relatively new. There are many more reasons to buy or not to buy Bitcoin. But it’s up to you to decide if this is an asset you want to put your money into.