Is Now A Good Time To Buy Bitcoin?

Story by: Charles Bovaird

Bitcoin prices have taken a beating lately, falling sharply over the last several months and dropping more than 15% in the space of 48 hours.

After suffering these declines, the digital currency is trading close to $6,450, according to the CoinDesk Bitcoin Price Index (BPI).

At this point, bitcoin is down more than 66% from its peak of roughly $19,800 reached in December 2017, additional BPI figures show.

[Ed. note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.]

Now, it is time for the million-dollar question.

Since bitcoin prices have fallen so much lately, is now a good time to buy?

When polled, analysts offered measured responses, emphasizing that there are both bull and bear cases for the digital currency.

Bitcoin’s Intense Volatility

Some stressed bitcoin’s volatile nature, noting how difficult it is to forecast what its price will do.

The digital currency goes through “very distinct boom and bust cycles where it’s quite normal to see massive surges and sizable retracements,” noted Mati Greenspan, senior market analyst for social trading platform eToro.

Original story: https://tinyurl.com/yd2pjj4p

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