Hey guys after some time of monitoring the bitcoin trends, i think its a great time to buy Bitcoins as the price has dropped drastically from the original price. Just today alone i saw the bitcoin drop by a few hundred dollars and then slowly rise. As we have seen in the past Bitcoin has exceeded our expectations reaching a whooping $3000 and this was not so long ago. Today right now Bitcoin is selling at just $2062, however as iv observed for the past few hours it has been rising slowly backup.
As we can clearly see from the two prices stated above there's a large margin of $1000, i believe that Bitcoin shall rise up again from this massive drop in price and next time who's to say the amount may exceed $3000 which would earn you some good profit if you decide to invest now. Now although there is a possibility that you could make a great profit if buying up Bitcoin right now there's always a gamble that you as a trader should always be aware of, for example the market could take for an unexpected turn and the price could drop much lower. Whats my answer to this ? DO NOT TRADE THINKING OF SHORT TERM PROFIT, THINK OF THE LONG TERM. Sometimes markets take some time to get back up however this time could prove to be valuable, i always think ahead before making my trades, i always think ahead of 6 months and more before i decide to cash in. As a result most of my trades return successful profits, not all however most of them especially in the field of bitcoin. If one wants to understand Bitcoin in more depth and its pattern trends you should be a person who remains curious and always asks question to why we see the price rising, reading newspaper articles on current affairs and finance magazines are a great start to becoming a successful trader.
Reasons to buy now
- The bitcoin price has hit a sudden drop and is now trading at $2062, which is relatively cheap in comparison to the price of $3000 which it was trading at a few weeks back.
- Bitcoin creation rate is becoming lower due to the number of bitcoins being mined everyday, this factor alone will increase the demand for Bitcoins latter on in the future.
- Due to the shortage of hard cash Bitcoin is increasingly becoming a main stream method of payment for the majority of people and therefore the demand is increasing and shall continue increasing until and unless cash crises is sorted out around the world.
- The number of websites accepting bitcoin as a means of payment is drastically increasing as its easy to setup a bitcoin API than it is to setup a bank payment API therefore with more exposure bitcoin is becoming a precious commodity in the future prices will definitely rise.
- I am very sure that there is going to be a sudden increase in the price of Bitcoins like we saw a few weeks back, the reason being from the past trends in Bitcoin we can see how after a sudden drop an influx in price soon appears with a much higher than expected value, i mean who would'v thought Bitcoin could make it to $3000 in a matter of days.
- In countries where cash is a problem due to poor economy governments are looking into adopting this cryptocurrency as a means of its own national currency in order to do away with cash shortages, in countries such as Zimbabwe where cash is hard to get your hands on, IT committees are looking at adopting such currencies if this is adopted Bitcoin price will indeed shoot up as the country would require a lot of bitcoins to put into circulation.
Things you should always be aware of
- Bitcoin trading can be a gamble so although i myself are predicting for an increase there could be an even lower downfall in the price of Bitcoin so make sure to always do research and keep up with current affairs as this may influence sudden price changes.
- Trading Bitcoins will not guarantee a profit over night look at long term investments rather than looking to make short term trades, the wait can be worth while.
My advice
BUY BUY BUY ! the gamble could be worth while only time can tell.
Make sure to comment, upvote and follow me if you like this post. Cheers!
