Hi I have been toying with the idea of investing in BTC but have waited due to some investors saying the price will drop to 12 - 16k again. do you think it could still drop to this or are we more likely to move on up to 40k?
thanks in advance.
Deciding when is the right time to enter the bitcoin market can be difficult and highly subjective. Some investors may find the current $30k price cheap enough to enter the market, while others may choose to wait for the price to drop even lower as you say. But keep in mind that the price of bitcoin is very volatile and can change drastically in a short time, therefore be wise in making decisions, don't regret it later because the price of bitcoin continues to rise.
Therefore, I don't think you need to wait for the BTC price to drop before you buy it. In fact, we are fortunate that the current bitcoin price is still under $50k. Moreover, many predict that there will be a halving next year in 2024, therefore waiting for prices to fall again, in my opinion, is a waste of time.