There’s a lot of hype around Bitcoin, but is now the right time to buy at that price? After all, other currencies have been doing very well for the last 12 months. This latest move in price is encouraging some experts who predict a $10K USD price in the next couple of weeks. But is now the time to buy Bitcoin at dollar 8700? Let’s take a look at the latest data.
There are a few reasons to buy now. The prices of Bitcoin and Ethereum fell below $33,000 for the first time in 12 months. That means that the market is experiencing a significant correction. Some investors are looking to buy the dip, hoping that the downturn will be a short-lived correction rather than a bear market. Investing at this point is risky, but it can also be lucrative.
The price of Bitcoin increases on Mondays, when demand for it is highest. As the week goes on, demand for Bitcoin drops. This cycle repeats itself each week. So, the best time to buy Bitcoin is on a weekend, later in the day, or at night, when the market is less active. There’s no perfect time to buy Bitcoin, but if you know what to look for, buying can be a great way to get in on the action.
When should you buy Bitcoin? Remember, the total supply of Bitcoin is limited to 21 million coins. The software in Bitcoin creates new coins when transactions are made on the network. These transactions are then packaged into blocks and protected by complex cryptographic calculations. This process takes months, sometimes years, but it’s worth it in the end. Once you’ve learned the lingo, buying Bitcoin should be easy.