Is Now the Best Time to Enter the Cryptocurrency Space?
By Luke Flowers – Crypto Specialist
Cryptocurrencies have swept the world by surprise. Even after Bitcoin soared in 2017, many people asked whether they should they have ‘gone crypto’ and placed a Bitcoin investment when the price was still insignificant?
When is the right time to buy cryptocurrencies?
You must conduct your own due diligence and thorough research into today’s market conditions. In everybody’s view, it is always safer to buy Bitcoin during a dip. But how can you identify a dip, you may ask?
To select the best timing, you need to evaluate the market trading charts and patterns carefully. This will inform you and your decision to buy and sell cryptocurrency in a healthier and more secure way.
The price of Bitcoin is highly volatile and may go up or down at any time. The unpredictability of the market is a considerable factor for many people’s unwillingness to enter it. Any investment must always be a well thought out and a carefully planned decision.
What is the most popular cryptocurrency?
Of course, Bitcoin is considered the most popular coin within the community, having withstood a long history of both technological and legislative difficulties. This current decline in value has been expected and many argue is more of a reason to buy Bitcoin now. Its future is considered very strong and is expected to soon be reflected in a price rebound. Many Bitcoin holders today also state that they do not expect to see the profit quickly and instead intend on holding the currency for a considerable amount of time.
Ethereum is another blockchain protocol with its own cryptocurrency that many people support equally. For its open-source nature and De-Fi allowances, many are awaiting and excited to see the launch of Ethereum 2.0.