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Is now the right time to buy Bitcoin? If you are asking yourself this question, this article will help you find the answers. We can tell you that now is the right time to buy Bitcoin., But this statement requires some clarification. Below, we present some key facts to help you assess whether you are interested in investing in BTC right now. Let’s get started.
Table of Contents
Is it worth buying Bitcoin now?
First of all, we have to point out some general suggestions regarding investing in Bitcoin. You should keep in mind that cryptocurrencies are by nature and since their inception subject to certain price fluctuations. However, in the context of a market characterized by its volatility, Bitcoin, as the first cryptocurrency created and the most popular in this sector, is the most popular. least volatileYou can see our technical analysis of the Bitcoin chart here.
Among other things, due to the fact that the risks of bankruptcy in the blockchain space are the lowest. Do not forget that this pioneer in blockchain technology Very safeSince it has high guarantees against fraud which is very common in other crypto assets. So, if you have a profile that likes investment risk, but you want to minimize it in a market known for price volatility, BTC is an interesting option.
We recommend you to use BTC as A way to diversify your investmentsYou should consider 10% of your risk assets and 3% of your total investment portfolio.
Buy Bitcoin Long Term
Long-term buying of Bitcoin is a common investment style in this category of cryptocurrencies. This style involves entering the market when it is discovered that the price of this cryptocurrency will start to rise in order to sell these assets later and get a tangible return. The price of Bitcoin is very volatile, but if you are patient enough to delay entry until you detect a change in the trend, you will get Your cryptocurrency has been revalued.The same applies to selling it after its price has risen.
However, buying BTC for the long term has proven to be primarily Useful form of savingThis is a good way to combat inflation, which causes your money to lose purchasing power. Don’t forget that despite potential downturns, such as the current crypto winter, Bitcoin has been on an upward trajectory since its inception.
However, we remind you that in order to follow this long-term strategy, you must be able to afford to hold your cryptocurrencies for a long time. In fact, there is a situation known as Holds Which does not even fall within the dynamics of trading and relies on maintaining an investment in cryptocurrencies not for weeks or months, but for years, to ensure that these funds generate a significant return.
swing trading With Bitcoin
Due to the nature of this asset, it is not particularly attractive for short-term investments, such as: swing tradingwhich involves taking advantage of price rises and falls. If you choose to try to take advantage of BTC volatility, for example, through intraday trading, you will have to set strict rules. Take Profit and Stop Loss Orders to guarantee your profits.
If you choose this method, you will want to: Short sell or buy BTC at a discount When prices start to fall. If prices are rising, you can buy and take a long position to exit shortly before the trend peaks.
Will Bitcoin Price Rise Again Later This Year?
The first thing we want to emphasize is that once we reach the first quarter of 2023, most experts expect that the price of Bitcoin may rise. by 13-40% Over the course of this year. Unsurprisingly, this cryptocurrency has proven to be one of the most appreciated assets in the market at the beginning of the year. The current growth forecast is better than that for the end of 2022.
The value of this cryptocurrency has risen significantly so far this year. Some of the more optimistic analysts expect a revaluation of up to 80%. Remember in this regard that it is ranked 17th among the most valuable assets in the world.
In short, the consensus among experts is that this The cryptic winter won’t last long.While it will take some time to return to the highs it reached, regulation and mass adoption of this asset will make 2023 a year of higher prices.
Bitcoin Technical Analysis
Technical analysis consists of interpreting the charts that show BTC prices, but you also have to complement it with fundamental analysis, which can explain sudden price fluctuations due to certain financial events.
Let’s start by saying that the price of BTC is currently around $30,000, which is an increase of about 80% compared to the last months of 2022. Although you also have to take into account price pressure In recent weeks, things have not been as volatile as they once were.
We will give you two tips based on technical analysis to evaluate whether It’s the right time to buy BTC. Take note.
- If you choose to swing trade, you need to distinguish well between support and resistance. Try to look for a gap to enter a sell trade when the price returns to the support level, for example between areas 1 and 2 on the chart. Regardless of the price now, look at the support and resistance (areas 1 and 2) and look for an opportunity. It is very important to identify support and resistance on the chart.
- If you prefer to hold Bitcoin, accumulate it in the support area or even lower. After that, it is in your best interest for the prices to be It is corrected downwards..
How can I invest in Bitcoin?
Are you still wondering if Is this the right time to buy Bitcoin? We have already told you that this is true, but with conditions that you must take into account in order for your investment to be profitable. Now we will tell you how to face this decision.
The first thing to remember is that you can get these cryptocurrencies By buying it from someone you know. Or on leading platforms and exchanges.
Accumulating these assets is a good idea if you choose to hold them. However, you may prefer trading, a system that relies on buying and selling these crypto assets when you are in a favorable position.
You can start trading with as little as ten dollars, although it is not recommended. It is also not ideal if you have no idea about trading, the first thing I recommend is to get information.
That’s why here’s our free cryptocurrency blog, perfect for beginners.
The cryptocurrency market is easy to access. Moreover, it is difficult to collapse due to the fact that it is backed by millions of participants who give it life with their trust. Liquidating your Bitcoin investment occurs when you decide Sell your cryptocurrencies to another traderwhich you can do through P2P platforms, exchanges, or Material Bitcoin.
How to buy bitcoin if you are a beginner?
The best option to buy Bitcoin if you are a beginner is to do it from a regulated and trusted site. I recommend our site Material Bitcoin. In addition to buying Bitcoin, you can buy a cold and secure wallet to store your Bitcoins.
When you buy cryptocurrencies, you should always store them in a wallet. The problem with most wallets, like exchanges, is that they are connected to the internet, and are vulnerable to hacking and theft. That’s why I highly recommend a cold, offline, and robust wallet.
This cold wallet is very easy to use. It is the most secure wallet on the market today.Protects your bitcoins against hackers, fire, water and electric shock.
In short, is it now clear if Is this the right time to buy Bitcoin? If your answer is yes, use technical and fundamental analysis and store your cryptocurrencies in a good wallet, such as Material Bitcoin.
