Is now the right time to buy bitcoin?

Against the backdrop of the halving, many participants in the crypto community gave positive forecasts for Bitcoin (BTC). Afterprolonged lateral movement, the coin stillcame into growth. At the moment, the digital asset approached the level of $12 thousand, after which it went into a correction. As of August 8, the cryptocurrency is trading at $11,594 (according to CoinMarketCap).

Against the background of a positive Bitcoin realizedmovement, many potential investors have wondered if BTC has prospects for further growth. The editorial staff of Mining-Cryptocurrency.ru decided to ask experts how attractive investments in a coin are today.

Buy bitcoin or not - what experts think

One of his first points of view on the issue ofMining-Cryptocurrency.ru was shared by EXANTE analyst Viktor Argonov. In his opinion, for long-term investments, for example, for ten years, it does not matter at what moment to buy bitcoin.

The expert believes that despite local drawdowns, the overall dynamics promise to be positive. The key to success, in his opinion, isregularitypurchases, albeit in small quantities.

“For short-term investments, cryptocurrencies are weakfit, they are even more volatile than stocks. As a rule, in investments, long horizons presuppose the possibility of investing in the maximum allowable profitability, and short horizons force to shift the priority from profitability to liquidity and price stability ", - Viktor Argonov explained his point of view.

At the same time, the expert drew attention to the fact that Bitcoin is a very speculative asset.

“It’s not for nothing that it [Bitcoin] is compared to gold.Just like a valuable metal, it produces nothing and does not pay dividends. Bitcoin is worth having in your portfolio, but it is better to diversify your basket with other cryptocurrencies such as ETH, as well as stocks and bonds.”, - summed up Viktor Argonov.

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The attitude of the founder of Blockchain Technology, Alexander Lavrentiev, towards the prospects of Bitcoin turned out to be less optimistic. He believes that the current price of Bitcoin is artificially high.

The expert drew attention to the fact that manyanalysts and other members of the crypto community often give unjustifiably positive forecasts of the movement of the coin rate. As an example, the founder of Blockchain Technology cited promises of BTC growth up to $ 50 thousand, which appeared in the media against the background of the hype around cryptocurrencies in 2017 (in December 2017, bitcoin reached a maximum value near the $ 20 thousand level).

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The coin itself, as noted by Alexander Lavrentyev, is not supported by anything. Bitcoin, in his opinion, was "grown" for the general interest.

"The coin has nothing to do with the economy and does not give anything other than the feeling of a soap bubble, supported by people involved in the system.", - the expert explained his point of view.

The current growth of bitcoin, in his opinion, is short-term. Alexander Lavrentiev believes that ahead of the cryptocurrency is waiting for a “peak in the form of a red candle down”.

At the same time, the founder of Blockchain Technology still sees the prospects for investing in BTC. In his opinion, only free funds that a person is willing to lose can be invested in cryptocurrency.

“Let's remember the investors who invested in 2017a coin of $ 19 thousand for 1 digital asset. For 2020, their losses are about 50%. If a person bought for $ 50 thousand, then his funds have now turned into $ 25 thousand. ", - using this example, the expert explained the risks of investing in BTC, drawing attention to the fact that Bitcoin can be manipulated.

At the same time, Alexander Lavrentiev proposed an alternative to investing in cryptocurrency. In his opinion, investing in a bank in a deposit account for a period of three years allows you to earn much more.

“Whether it is worth investing in a coin is an individual decision. In practice, this is a high-risk investment with minimal payback. ", - summed up the expert.

Nikolay Klenov, financial analyst at the Raison Asset Management investment company, in turn, believes that long-term investment is the most effective strategy for bitcoin.

“This is a limited issue asset, the valuewhich will grow over time. An additional stimulus for demand will be that cryptocurrencies will gradually enter the economic life and legal framework of different countries. This will increase the number of private and institutional investors willing to invest in the asset "- so the expert explained his point of view.

In his opinion, the immediate goal for bitcoin is to gain a foothold above $ 12 thousand.If this happens, according to Nikolay Klenov, growth to $ 15 + thousand is quite possible.

"In the long term, the quotes can reach $ 50 + thousand.", - the expert completed the answer with such a forecast.

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Your opinion on whether to buy bitcointoday, Tatyana Maksimenko, the official representative of the Garantex cryptocurrency exchange, also shared with Mining-Cryptocurrency.ru. The expert believes that bitcoin is worth buying for both $ 1,000 and $ 10,000. The main thing, in her opinion, is not to invest all the funds in BTC and to diversify your investment portfolio correctly.

Tatyana Maksimenko believes that investors are notyou need to reinvent the wheel: you need to follow the same basic investment rules as in other assets. For example, investing a certain amount in bitcoin regardless of its rate. Then the influence of price fluctuations on the value of the investment portfolio, in her opinion, will be smoothed over time.

“In my opinion, bitcoin is a long-terminvestment. It has huge growth potential in the future, but this is a 5-10 year perspective. Now the cryptocurrency can fall to $ 5 thousand more than once, and then soar again to $ 15 thousand. In the long term, it may well overcome the maximum of 2017 and exceed $ 20 thousand. This is facilitated by market sentiment. ", - said Tatiana Maksimenko.

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Investors, in her opinion, are concerned about howthe rhetoric of financial regulators is changing: how ready they are to “flood the fire” caused by the pandemic with new printed money, how easily economic ties break down under the pressure of often populist and ill-considered political sentiments.

"Bitcoin, even with its volatility, looks more stable and safer against this background.", - summed up the expert.

To summarize

Most experts see investment prospectsfunds in Bitcoin. At the same time, many emphasize that investments in BTC should be for the long term. The need for time can be explained by the growth potential of the cryptocurrency, against the backdrop of its limited supply. To other conclusions:

• Despite the fact that before bitcoin is opengrowth potential, before making a decision to invest, it is important to remember the high risk of investing in cryptocurrency. Also, the user should be prepared for the fact that it can take a long time to profit from BTC.
• When exactly will Bitcoin begin to grow actively?unknown. It is important to remember that all expert forecasts are nothing more than just guesses. Even the most experienced members of the crypto community are wrong in their predictions. For example, at the end of August 2018, the creator of the cryptocurrency from the top ten in the capitalization rating, Litecoin, Charlie Lee, stated that BTC would return to its maximum value (near the level of $20 thousand) in six months. It's August 2020, and Bitcoin is still far from its record price.
• You shouldn't invest your last money in bitcoin. Many experts advise investing in cryptocurrency only those funds that they can lose. It is also important not to forget about portfolio diversification.

For more information on all methods of buying cryptocurrency, see here.

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