Among all my cryptocurrency-loving friends, opinions on buying Bitcoin are divided. Audrey says that this is a great time to buy cheap cryptocurrency number one. And others are afraid of a further price drop, because Trump is introducing tariffs that act as a shock to the entire American economy.
Plus, there is a possible risk of a recession within a year. And all this is understandable - investors are withdrawing money because they are afraid of unpredictability, and they do not want to lose money. I am sure that most people did not expect Trump to have such an impact on cryptocurrencies. The growth was only based on expectations, and now they are not being met.
Skepticism is the main reason why some people steer away from Bitcoin. Part of this has to do with the fact that market prices are unstable (volatility) and not many merchants accept it as a payment method. We're still in the early days, so there's plenty of time for Bitcoin to grow. CBDCs aren't even a thing yet (even though a small number of countries launched their own). Once the whole world becomes "cashless", mainstream adoption for Bitcoin will skyrocket.
I'd expect BTC to sit within the "millions" (in USD) by the time this happens. If I were you, I'd start buying and "hodling" BTC now to prepare myself for the future. The earlier you start on Bitcoin, the better. The dream is to get rich with BTC, right?
Anyone who still worry about stability and instability of the Bitcoin price is definitely a trader that is looking at short term gains and not really how to build a sustainable Bitcoin portfolio. Bitcoin was not designed to be a stablecoin so there will always be volatility in the market which is one of the things that makes Bitcoin unique and special.
When I started this journey, I never understood this aspect of Bitcoin volatility so I always get worried and panicking when price move the way I did not expect. But as time goes on, I began to appreciate the volatility of Bitcoin as I now see it as a normal thing so I'm no longer bothered by it.
As an investor, you will enjoy much peace if you take your eyes off the chat and focus more on buying and holding for long rather than thinking about what the price will be today or tomorrow. I think the reason the DCA method is one sweet method is that it actually solves this problem of worrying about the price because rather looking at the price of Bitcoin before buying, the investor is more concern about fulfilling the weekly or monthly requirement of buying a specific amount of Bitcoin no matter what the price is. So, anyone still worried about the volatile nature of Bitcoin should consider using the DCA method to buy.