While Bitcoin (BTC) seems to be declining in price by the day, the popularity of the asset generally seems to be increasing as more investors are still diving into the asset. One of such investors has just announced that he purchased 10 BTC.
According to his Reddit post, the investor simply known as Bromden said he considers the crash an opportunity he has been waiting for while many BTC owners have panicked and sold their investments. In his words, he said:
“I’ve been closely following crypto for about a year now. I waited so long for a good occasion to buy in, teaching myself about blockchain and cryptography…Today I bought 10 BTC as a long term investment and despite all the negativity and FUD I’m very confident it will pay off in the future. I’ve never been so excited in my life. Stay strong handed!”
Bromden’s announcement attracted several responses some of which suggest he shouldn’t have made public the amount of BTC he bought as many hackers and scammers have been attacking Bitcoin holders and investors. Several of these scams involve impersonating prominent figures such as Elon Musk who has been impersonated several times to scam his followers and recently as well.
BTC has been on a decline in the last week and it crashed to an all year low of less than $3,200. Due to the crash, there has been a lot of sell-off by investors and BTC holders. This has further worsened the crash and there is no optimism in sight.
Experts, however, have said this bear market creates the perfect condition for investing in cryptocurrencies. Weiss Ratings also mentioned this just a few days ago. With its research reputation in finance, the company’s advice may be something to hold on to.
Although Bitcoin’s bottom is ideal for investors to buy, all investors are looking forward to making profits. Unfortunately, no one is sure of when the next bull run will happen and it seems far away.
While some people believe the asset will get to a value of zero, others believe it is not possible due to the architecture of the network. Will the bullish predictions for the asset come true this year or will it wait till next year?