Should I Buy Bitcoin In 2020?

If you’re asking yourself this question now, chances are you’ve heard about Bitcoin before but you didn’t want to invest in it because of doubts and fear. Or perhaps you feel left out as everyone else around you has already invested in Bitcoin and you are wondering if it’s too late for you to be a part of the digital of transactions. Bitcoin had reached its peak back in 2017, and you didn’t invest in it back then, I’d say now is a good time. 

A big misconception that people might have is that it comes with a guaranteed return. It’s not always like that. You cannot be promised to become a millionaire overnight (although even that is possible). You may face loss or you may become rich. Bitcoin is funny with it’s uncertainty that. 

In 2017, it had peaked $20,000 per bitcoin but within a span of twelve months it fell down to an enormous 80% of it’s peak shocking many and eventually scaring people off. In the next few months, there was a steady rise in its value. In the last two weeks, the value dropped by 6% only but it might as well rise up again. According to the Tom Clee, the co-founder of Fundstrat, 2020 will be a great year for Bitcoin due to various factors. 

These fluctuations have made traders worry, but it’s only a fair part of worldwide trading. Bitcoin has had worldwide acceptance and adoption as a common digital currency. Many organisations and payment gateways across the world recognise it’s validity. Over the past teo years, the security and safety of the online transactions have been tightened due to regulatory measures taken by both the institution and the government which has made it very relaible. 

In 2019, Bitcoin (BTC) is trading at $8,673.1153 . It reached a peak of almost $9,190 around mid Jan 2020. So far, Bitcoin has already proven to be one of the  best investments of the year. Although there are few economist, like Peter Schiff, who say no foreign capital will.be entering Bitcoin space, the trust bestowed on Bitcoin still remains unshaken. 

The thing with Bitcoin is, you want to buy low and sell high, rewarding yourself with a good amount of profit. So if you want to do it, go for it. There are many sites offering Bitcoins. For example, Coinbase- it is the biggest and most respected Bitcoin platform in the United States. It offers both an exchange and wallet in one, making it one of the easiest places to start with Bitcoin. 

Then there is Robinhood, which started as a fee-free stock brokerage and recently became a part of digital currencies. The best part about it is that Robinhood doesn’t charge you any fee You can buy and sell Bitcoin and other digital currencies completely fee-free on this platform. There are many other such options available to you, in case you want to buy. 

The truth is, no one can give a 100% affirmative answer to the question. If you want to buy Bitcoin this year, you can go for it. However, you should not spend more money on it than you can afford to lose. Just stock market, the digital marketing world is also like roller coaster. So what matters is , you invest wisely in it.

Therefore,  it is only logical, to say  that there is no exact right time to invest in cryptocurrency, expect for it’s peak, which some experts suggest would reach $20,000 in 2020.  Now all you have to do is, make up your mind and take the first step!

Leave a Reply

Your email address will not be published. Required fields are marked *