Time to Buy the Dip on Bitcoin?
Bitcoin (CRYPTO: BTC) is famous for its huge surges and sudden plunges. But in the long term, it's been a terrific investment for patient investors. During the past five years alone, Bitcoin's value has risen by nearly 1,500%.So far this year, however, crypto markets have been down across the board. Bitcoin has been no exception. Is this your chance to add more Bitcoin to your portfolio at a discount or perhaps start accumulating Bitcoin for the first time? The short answer is yes, but there's an important catch every investor must understand.As with the stock market, it's not always obvious what exactly drives Bitcoin's valuation higher or lower. There's always plenty of news to attribute to various price movements, of course. But picking the specific story driving a certain decline or surge is always a matter of judgment. That said, there are a few newsworthy items that probably are hurting Bitcoin's valuation right now.Continue reading
Bitcoin (CRYPTO: BTC) is famous for its huge surges and sudden plunges. But in the long term, it's been a terrific investment for patient investors. During the past five years alone, Bitcoin's value has risen by nearly 1,500%.
So far this year, however, crypto markets have been down across the board. Bitcoin has been no exception. Is this your chance to add more Bitcoin to your portfolio at a discount or perhaps start accumulating Bitcoin for the first time? The short answer is yes, but there's an important catch every investor must understand.
As with the stock market, it's not always obvious what exactly drives Bitcoin's valuation higher or lower. There's always plenty of news to attribute to various price movements, of course. But picking the specific story driving a certain decline or surge is always a matter of judgment. That said, there are a few newsworthy items that probably are hurting Bitcoin's valuation right now.
