With the recent dramatic crash in Bitcoin price, which had more or less been in the $4000 range, the questions about the new bottom for the year 2018 have surfaced. With this, a lot of first-time buyers are now interested in buying Bitcoin at these lucrative prices. But is it the right time to buy? What if it falls to $1800 in the next few months?
Such questions from first-time buyers cannot be answered with a price since no one knows what the real bottom is. But from the information that we do have, we can make a reasonable prediction about how Bitcoin can yield a good return considering capital gain is the only aim of this investor at the time. Here are some tips from our cryptocurrency trading community.
Buying Bitcoin
In December 2017, Bitcoin charted new highs every week until it reached the peak of $19,500. The whole of 2018, Bitcoin has been busy charting newer lows. Recent drop from $6000 range to $3000 range was not expected even by many seasoned traders. So how does anyone decide whether it is the right time to buy Bitcoin or not?
Conclusion
The right price to buy Bitcoin is not the same for everyone. That being said, the price in the range of $3300 to $3700 is a really good entry. Those who do not buy right now will end up with FOMO or Fear of Missing Out when Bitcoin rallies to $6000 again in the next year. The right time to buy Bitcoin is now.