The prices of most cryptocurrencies have dipped over the past one year, with Bitcoin now trading just above the $3,500 mark. Even though most people are scared to enter the cryptocurrency market while some investors are panic selling, this is the perfect time to buy Bitcoin and other cryptocurrencies.
Here are the top reasons to buy Bitcoin now
Prices Might Never Be This Low Again
One of the rules in trading is to buy low and sell high. It is not recommended to enter the market when the prices of cryptocurrencies are high, rather when they are low. Currently, the prices of most cryptocurrencies are low and it is the best time to purchase them. The market movement is most likely going to be up and purchasing cryptos now will ensure that you make excellent gains when the bear market ends and the bullish runs begin.
If you already hodl Bitcoin or any other cryptocurrency you believe in its project, then the best thing is to stay invested. Those that decided to hodl their cryptocurrencies during bear market are almost always rewarded when the prices go up again.
This point has been reiterated by experts and cryptocurrency analysts who are also taking advantage of the bear market to increase their portfolio holdings.
Bear cycle is always followed by a bullish run
If you have been following any financial market, be it stock, forex or cryptocurrency markets, then you would know that a bear cycle is always followed by a bullish run. The cryptocurrency bear cycle that started in 2014 affected some investors who decided to sell their cryptocurrencies at cheap prices and didn’t re-enter the market. The bullish run that happened in 2017 which saw Bitcoin reach the $20,000 zone showed them that the bearish trend doesn’t last forever.
Since a bullish run is set to follow this bearish trend, then it is better to buy at the current low so that you can make huge profits when the market rises again. If you are already an investor, then you should hold on to your cryptocurrency reserve. You can even decide to purchase more just to grow your portfolio and record more gains when the market rises.
Institutional funds are coming
The cryptocurrency market has been dominated by retail investors since Bitcoin was created. There are signs however that institutional investors like hedge funds, venture capitals, and others would soon come into the market. When that happens, the prices of cryptocurrencies would skyrocket and it would be even more expensive to buy by that time.
To make things easier, it is best to buy your cryptocurrencies now that prices are down so that you can enjoy huge profits once institutional funds come into the market.
To purchase your cryptocurrencies, take a look at Etherecash. Take action now before the market rises again.
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