BTC $6509.56 2.22%
ETH $300.66 3.03%
XRP $0.318517 9.89%
show
show
Digital Economy:
What will the global market get

Is it worth buying bitcoin now?

09 February 2018 00:00, UTC   |   4793
Is it worth buying bitcoin now?
By Margaret NAIL
In general, market panic leads to enormous losses of one investor and fabolous profits of another. Should be the panic on cryptocurrency market, which led to the major correction of bitcoin, seen as a chance to earn money or is it safer to stay away from cryptomarket? Let’s discuss the matter with Bitnewstoday.com.

A number of negative factors made the bitcoin market lose more than 60% of its value in relation to the last highest level. According to Amanda B. Johnson, a representative from DASH, the most common reason for market panic is a fear. Firstly, it’s a fear to miss out the profit, that makes people invest, when prices are intensely growing (on securities, cryptocurrencies, etc.). Secondly, it is a fear to lose, that makes people quit the market, when prices start to fall.

Experts differ in their opinions on whether it is worth to buy bitcoins now or not. Some specialists advise to stay away from cryptocurrency market, while others, on the contrary, predict a significant resumption of bitcoin growth in the nearest future and believe that it is the high time to purchase BTC at a lower price.

“I think, that for now it is better to stay away from the market. Lately we have already seen a several stages of decline, when consolidation was followed by a new fall. The market volatility rates remains extremely high, while stock markets continue to form a negative setting. In these conditions we can be ready for the purchase, but may be it will be more reasonable to refrain from market entering, taking into account such strong volatility”, Alexander Kuptsikevich, a financial analyst from FxPro, advises.

Leonid Delitsin, an analyst from Finam Holdings, seems to be of the same opinion, “It’d make sense (ed. to invest in bitcoin), if the fast rate of recovery was expected. But there are no reasons for it, futures do not show that somebody sees the future more optimistic than now. If someone wants to invest for five-ten years (this is just a suggestion, because we’ll hardly find a couple of hundred people with such intentions on our market), then - yes, it makes sense. But if you want to play the short-term game - more beneficial conditions should appear in the nearest months or maybe even weeks”.

The decision to invest or not to invest in bitcoin must also depend on the investment goals. Thus, if investor aims to capitalize on short-term investments, to turn the funds into fiat, then this idea is better be postponed till the global trends will change from falling to rising.

But if gaining profit from speculations is not your plan, you can buy bitcoins now and make a long-term investment. “Remember that those who invested in bitcoins even 3 months ago, today are still in the black, not speaking about those who bought bitcoins earlier. Those, who do not panic and do not get emotional over the correction - do not lose money. If you are not ready for the risk and high volatility and afraid to face a situation when after buying bitcoins worth $8000, you could possibly see its price fall to $3000 - then it’s better not to enter the market. Otherwise you may end up selling bitcoins low to those who believe in the technology of digital decentralized money”, Alexander Kitchenko, a cryptocurrency researcher, investor, member of Bitcoin Foundation, recommends.

Rodion Popkov, operational director of VISO, a payment system for crypto and fiat payments, is sure that bitcoin will definitely see a significant rise in future. “It is hard to predict what will be its lowest level, but the turnaround is inevitable, because bitcoin cannot just disappear. It already became a part of infrastructure of dozens of exchange markets, money transfer systems, cross border payments, somebody’s honest money, that they don’t want to show to the government - all this will not disappear”, the expert added.

When making a decision, invest in bitcoin now or not to invest, it is necessary to understand that this market is very volatile, it’s full of surprises. That’s why in any case, it is better to invest in bitcoin that amount of money, loss of which will not ruin your life.

Leave a comment
Leave a comment