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.
I don't think the bitcoin price will drop below $18k anymore. Especially if you look at the recent crypto market sentiment, it seems that the price of bitcoin is more inclined to go up, it doesn't even rule out the possibility that the price of bitcoin will reach $ 40k. Therefore, if you really want to invest in bitcoin, pay attention to market sentiment, to convince yourself whether Bitcoin will experience another increase or decrease so that it will make it easier for you to make a decision to determine the right time to invest in bitcoin.
It is tough to be sure of anything when we talk about bitcoin, bitcoin is unpredictable. I don't know if bitcoin can drop below 18k again. But I believe in history, and I think that before we officially enter the bull season, there will still be a dump waiting for us ahead.
For those who haven't bought bitcoin yet, they should buy now, now is still a good time to buy bitcoin. But if someone has already bought some bitcoin and wants to buy it cheaper, they can risk waiting. I still believe there will be another downfall, IMO.
Indeed, predicting the price of bitcoin is very difficult. Anything can happen in the crypto market. However, while nothing is certain, I don't think bitcoin is likely to drop below $18k again. Moreover, if it is in accordance with the 4-year cycle, next year there will be a halving. Where usually before the halving the price of bitcoin tends to go up and down more stable and not to fall like last year.