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Should You Buy Bitcoin Now While It's Still Below $30,000?

Intermediate
Bitcoin
Investing
4 вер 2023 р.
18 min read
0

Toward the end of June 2023, Bitcoin briefly broke above $30,000, and most people thought the price would skyrocket. However, the price failed to break the strong resistance around $29,000 and stalled for weeks. Eventually, in mid-August 2023, BTC plunged from $29,000 to $26,000 and is still trading sideways around that level.

One question that's always on an investor's mind, especially during this bear market: Should I buy Bitcoin now, or could it drop a little further?

While no one is 100% sure that Bitcoin has bottomed out yet, this article explores whether you should buy Bitcoin when it’s still below $30,000 or wait for a major price rally (up/down) to get in.

Key Takeaways:

  • A decision on whether to buy Bitcoin now depends upon various factors — such as your investment goals and the prevailing market conditions — which could favor an entry due to the discounted prices.

  • The upcoming Bitcoin halving in 2024, intensified interest by institutional investors and increased clarity of regulation could be catalysts to drive up Bitcoin’s price.

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