Bullish Days Incoming: Is Now the Perfect time to Buy Bitcoin?

Bullish Days Incoming: Is Now the Perfect time to Buy Bitcoin?

Bitcoin looked to be on the way back towards its bull run days, reaching past $7,200.  But now Bitcoin and the rest of the cryptocurrency market is down 15% in the last few days.
With the market shooting up and down 15% in the span of days, investors are left wondering when they should attempt the enter the market if at all. According to Forbes, many experts struggle with the answer to this question as well.
Mati Greenspan is a senior market analyst for the trading platform eToro.  He says the big swings of the cryptocurrency markets are frustrating but doesn’t worry too much about the volatility at the moment.  He tells us that the market sees “very distinct boom and bust cycles where it’s quite normal to see massive surges and sizable retracements.”
Jacob Eliosoff, a cryptocurrency fund manager thinks the market could dip even lower.  “I see no reason Bitcoin’s price couldn’t keep dropping or stagnating for another year or two,” stated Eliosoff, noting that ”it did from Dec 2013 to mid 2016.”
Eliosoff says it’s basically impossible to predict short term moves in this crazy market. But also thinks “the present bear market feels more like a natural reaction to 2017′s bull market than a reflection of any fundamental problems.”
As the Bitcoin and altcoin markets continue their roller coaster rides, experts seem to agree at least on the idea of long term investing being the best strategy.  “Overall, those who have adopted a more long term strategy for investing in Bitcoin have seen the best performance,” said eToro’s Greenspan.

“Therefore, many of our clients are deploying strategies like ‘buy the dip’ and ‘dollar cost averaging’ in order to scale into a long term position. This way, they’re able to take advantage of the current discount and still save some money in case prices go lower.”

In such a volatile market, it’s extremely difficult to be able to read the tea leaves and make short term gains.  However, with many positive developments on the way experts still believe in the technology and what it can bring to the table.
As infrastructure and processes become more mature, the crypto market could become much more robust and stable. But for now, expect more steep surges and dips as the space grows.