What price should I buy bitcoins and other Altcoins upto ?
My answer? I don't set price targets. Cryptocurrencies are too new for that, with less than 1% of the world owning any and institutions owning none.
When I buy a promising Cryptocurrency, I'm making a bet that it will catch on and become a mainstream technology.
If a decent chunk of world wealth moves into the cryptocurrency space, prices will rise many, many times higher than they are today. A hundred-thousand-dollar value for a single bitcoin is possible over the next few years. Even a million-dollar bitcoin is possible, though that scenario would likely mean that something bad had happened to the U.S. dollar.
So I simply don't think a "buy below" price makes sense for cryptocurrencies at this point. There's simply too much momentum and too much money on the sidelines.
And cryptocurrencies can run like nothing else. Bitcoin, for example, has had some simply stunning run-ups in its history. It moved from $5 to more than $1,000 in less than two years. That's 200X.
Imagine if we had set our initial "buy under" bitcoin target at $3,400. A few people would have gotten in, but most would not have. And the price of bitcoin recently was $16,000. I certainly don't want to be on the sidelines for this bull market.
It's better to try to buy on dips or use dollar-cost-averaging (buying the same amount at a regular interval, be it daily, weekly, etc.) than try to buy under a certain price.
What's a dip? In this market, I'd say a drop of 10% to 15%. And today the price of Bitcoin is 11200$,I think this is best time to buy Bitcoin
The best time to have planted a tree was 20 years ago. The second best time is now.
Good investing,
Thank you for your time to read my post