What I have read from CNBC, Bitcoin exchange is up by $11,433.3896 +403.40 (+3.66%) | 6:35:11 PM EST |
Some of the analysts say that by June, it can hit $20,000 and by the end of the year will be $30,000. Do think this will actually happen? Because based on what I am seeing from the Bitcoin Exchange, it is really going up already. Do you think it is the best time to buy Bitcoin now for investment?
According to investors, the price of Bitcoin will increase sharply in June and July. Bitcoin prices increase by the following factors:
The amount of Bitcoin produced is limited to a maximum of 21 million Bitcoins, which can not be expected to create an increased demand for a limited number of Bitcoins that will increase the Bitcoin value.
- Bitcoin is not as inflationary as a conventional currency due to limited supply
- Bitcoin is an anonymous transaction, not controlled by the government and the bank
- The execution of Bitcoin transactions is simply sent or received through an address that is considered uncomplicated
If Bitcoin is down, I think it is only temporary and a necessary move ahead of higher prices.
So at this moment why not keep Bitcoin and buy more if possible.