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Should I buy Bitcoin now?

Posted by Taras Lanchev on

"The best time to buy Bitcoin was in 2011, the second best time is now!"

To buy or not to buy? I see this question everywhere on the internet because everyone who knows even the slightest bit crypto is always regretting not buying 1 day/1 week/1 month/1 year ago and so on.

1. Trying to predict what the market will do is the worst strategy out there. It seems easy: "Buy low, sell high". But that's exactly when tons of people lose money.

2. You are asking complete strangers on the internet where to invest your money! Go out on the street and start asking people there. Imagine what answers you'll get there!

3. The only answers you'll get online are "yes" and "no". Anyone can write one of the two, but what's the point of that?

Remember, if you spend all your money to buy Bitcoin and then lose all of it - no one on the Internet will care. Maybe this will convince you to stop asking random people what to do with your money.

Do your own research. Learn what Bitcoin and Blockchain really are and how they work. Learn all advantages and disadvantages. Yes, that's a shit ton of reading from many different sources.

Think for yourself if cryptocurrencies can spread across the world. If after researching you think that they can - good, go and invest. If you think they can't - don't invest.

Of course, there is a chance that you want to trade on an exchange and get +100% profit every month. It is possible, in theory. However, many people would argue that there is no point in doing that (unless you possess a time machine or every single bit of insider info on the planet).

The main thing is - don't spend too much money, time and nerves on it. Always remember that no one actually knows what is happening with the price of Bitcoin and what will happen in the future. You are literally trying to guess or are asking others to make a guess for you.

Invest only in the projects which you think are interesting and will work. If you are unsure - it's better to be safe than sorry. Always remember to invest what you are willing to lose.

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