Price Watch: Is Bitcoin (BTC) A Good Buy Right Now?

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Bitcoin has generally had a great 2019 so far. However, very recently, the world’s number one digital asset has been struggling to gain the momentum it had picked up and maintained for a while now on its year to date high.

Price Watch: Is Bitcoin (BTC) A Good Buy Right Now?

At press time, Bitcoin is trading a little above $10,900, with 4.83% gain over the last 24 hours. Regardless of the current stats, bulls are living true to their name as many believe that the recent pullback was just a temporary hurdle and BTC is bound to surge considerably in the coming weeks. One of such bulls is Mike Dudas, founder, and CEO of crypto research and analysis service, The Block Crypto.

“Buy Bitcoin Today”?

Dudas recently took to Twitter to express bullish sentiments about the king coin, forecasting that its price will increase significantly in the next few months. According to his tweet:

“Yes, I do believe that the price of $BTC will go up significantly over the next few months.

I haven’t said something similar since last December, and we know how that turned out.

I would buy bitcoin and $ETH today”

As with most financial markets, many traders and experts believe that it’s most advisable to buy when prices are low in preparation for a surge. This age-long practice is probably the same Mike Dudas is running with.

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There are those who also believe that the recent drop was caused by the backlash Facebook’s Libra is currently facing with the U.S. government and if this is valid, prices could still go a bit lower.

This forecast is further backed by the thought that the government will continue to berate the Libra and it may not be getting any official support from the lawmakers any time soon.

Regardless of the fact that the U.S. would most likely do everything it can to suspend the activities of Libra, it is expected that Bitcoin would be largely unaffected in the long run.


Disclaimer: The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of ZyCrypto. none of the information you read on ZyCrypto.com should be regarded as investment advice, Every investment and trading move involves risk, you should always conduct your own research before making any investment decision.


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