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SHOULD I BUY BITCOIN RIGHT NOW – 2020

SHOULD I BUY BITCOIN RIGHT NOW – 2020

This is a question I’m starting to get very often whenever someone sees me with a bitcoin t shirt, the other day I was wearing a t shirt with the ETHEREUM logo but it was very faint and I was surprise someone recognize it and the first question was is it at $1k? should I buy? same whenever I look at my phone to check prices and I’m close to a relative so here some information on how you can step in into Bitcoin now that its going up so high and so fast, everybody wants to buy when its green but nobody wants to buy when its red.

The first thing about buying Bitcoin that you MUST have in your mind is that IT CAN GO TO $0.00 in any moment so never buy more than you can afford to loose, here a chart with possible entries if you are not into bitcoin, this prices levels some of them go all the way back to 2018 and some are a bit recent from 2020, also keep in mind that nobody can predict tops and bottoms so most likely your entry or buy wont be perfect.

Potentially the price of Bitcoin is a bit overextended at the moment but during parabolic moves that really such thing doesn’t exist since its fueled by stupidity and that’s true, you got it right, when a parabolic move starts it gets to a point where indicators and price doesn’t make sense anymore and there is euphoria to jump in, this is something traders know as FOMO, fear of missing out, the possible levels I have highlighted are not exact, most resistance levels since indicators are far away from the current price.

$14500 – Very likely price could return to this point during a correction

$12500 – If Bitcoin decides to go to $20k this month this wouldn’t be the first stop for the price

$11500 – If Bitcoin price starts moving sideways above $15k its very unlikely since it would create a support at $15k to then move up

Why waiting and not buying right now, the reason is because basically since Bitcoin started to move up the last dip was in August, nothing can go up for ever, you may ask “What if it goes up more?”

Lets say the price goes to $18,000 but then it dips to $17,000 at least you are not buying the top, buying tops are very risky, in the case of just buying Bitcoin you would still hold the same amount of Bitcoin but there is no certainty the price would go back up or if you would have to wait months before it goes up, for example people who bought Bitcoin in 2018 at $20,000 during all time high, holding for that long is not easy and 70% of people lost interest, call it a lost and sold.

Bitcoin is not the only crypto currency, the second mayor crypto currency is called ETHEREUM and compare to Bitcoin that is close to its all time high of $20,000 , Ethereum is a bit far right now, with its current all time high at $1,400 its current price is $435

Here the ETHEREUM chart

contrary to Bitcoin is very far away from its all time high so there still time, will it reach all time high price even though its an altcoin meaning not Bitcoin, NOTHING IN CRYPTO OR TRADING IS GUARANTEE, in my personal opinion most likely it will, there are a lot of fundamentals behind ETHEREUM or ETH as its abbreviation or thicker, Ethereum is not only a coin that you can use to transact but also build platforms on top of it.

Q: Should you buy right now?

A: You can but its not the smart decision, dont be victim of FOMO, patience is a bridge to success

I hope you find this post useful

Thanks



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