Is it Right Time to Buy Bitcoin?

Introduction:

Buying bitcoins have become a trend nowadays. Whether it is someone’s hobby or profession, the number of users has increased. The fact that you can keep your personal information secret while making deposits or withdrawals is interesting. The point that bitcoin banking is easy and safe mostly also gains lots of attention.

Still, every point always has a catch. First of all, you need to keep many factors in consideration before buying bitcoin. Secondly, you need to choose the proper way to buy bitcoin. There are many ways to buy bitcoin. But you cannot buy or sell bitcoins when your chances are low. Hence, it is better for you to understand the proper time for buying bitcoins.

Is it the right time to buy bitcoins?

The real question is if it is the right time as mentioned above. You need to keep close knowledge of little things regarding bitcoin. For example, a theory suggested that bitcoins are cheapest during Sundays and Mondays. They have the highest price on Friday and Saturday. Overall, bitcoin values are not stabilized always. You need to keep a close eye.

Another important factor is that you should never sell your bitcoin in a hurry. It is better to keep a tab on how others are doing with their transactions as well.

But there is a good thing regarding the buying of bitcoin. For example, many enterprises consider bitcoins to be secure. Hence many people in 2019 are already investing in bitcoin and other cryptocurrencies. Hence, the volume of bitcoins has increased so is the selling of bitcoins.

Some Examples Regarding Bitcoin Statistics:

The daily hashrate of bitcoin recently fluctuated to 59.8 to 69.2/s EH daily. Even though the rate was as high as 74.06 EH/s still the people are positive regarding the future of bitcoin. Though it is true this year’s hashrate was a little lower than last years, but still it was stabilized. If the hashrate remains stable, then people can trade bitcoins. And a relatively stable hashrate means that it is easier to invest in bitcoins in the long term rather than short term. It will mean that most people shall face little to no risk. (Source: https://medium.com/@LinkCoin/when-is-the-right-time-to-buy-bitcoin-a1f3a5209faf)

Transaction Volume and USDT:

The transaction volume of bitcoins has decreased to some point though. And it remained so for some days in the USDT. But the good thing is the purchase of bitcoin is high due to the lower rate. But there were also some insecure purchases as well. This has made the New York Attorney General to put a temporary hold for the big institutions.

Google Search:

After President’s Trump’s negative comments regarding cryptocurrency, not many are showing interest. 2018 was a low time for cryptocurrencies, although there is a slight improvement this year. Regardless, many people are buying bitcoins and some are profitable. This is because they might have considered the factors surrounding them. Not all the time the value of bitcoins remains the same. Hence, it would be better to keep updated regarding the news and results.

Keep in mind that you need to see the amount of risk tolerance from your side. Decide thoroughly as to how much you want to invest and the possibility of the risk. It is highly recommended that you use a secure platform.

Conclusion:

There is no proper time for buying bitcoins. It depends on your consideration, knowledge, and experiences in this field. Moreover, if you research a little bit then it will be better for you. With a backup plan, it is better to actually suffer from a minimum loss than a huge loss.



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