Should You Buy Bitcoin Today? Considerations Before BTC Investment

Bittime - Last year was a great time to be a Bitcoin investor, as the price of this digital asset more than doubled in 2024. At the end of 2024, Bitcoin was trading around $92,000, just 15% below its all-time high. 

With the current price still below $100,000, many people are wondering if now is the right time to buy Bitcoin.

Bitcoin is currently experiencing a rest phase following the post-election surge, where optimism towards more crypto-friendly regulations is increasing. However, price drops are nothing new for Bitcoin. 

Since its launch, Bitcoin has experienced many extreme price fluctuations. Experienced investors understand that the ability to deal with volatility is the key to success in Bitcoin investing.

Also read: Robert Kiyosaki Predicts Bitcoin Price to Rise to $175K to $300K

Why Can Bitcoin Prices Fall?

Over the 16 years of Bitcoin's existence, the price of this digital asset has fallen by more than 50% on several occasions. Every time there is a sharp decline, many media and analysts declare that Bitcoin is “dead.” 

However, history shows that Bitcoin always manages to recover and reach new highs. With the inherent scarcity of Bitcoin, where the total supply is limited to 21 million coins, many investors believe that the price of Bitcoin will continue to increase over time.

Bitcoin's scarcity is often compared to that of gold, which has long been considered a store of value. Although gold has some industrial applications, its primary value comes from society's decision to consider it valuable. 

Bitcoin, on the other hand, is scarcer than gold because new supplies cannot be added haphazardly. With over 19.8 million coins already mined, Bitcoin has the potential to become a better store of value in an increasingly digital world.

Potential Profits from Bitcoin Investment

Although Bitcoin does not generate revenue or cash flow, many analysts believe that its value could increase significantly. Currently, the total value of all the gold above ground is estimated to be around $17.7 trillion. 

If Bitcoin can reach the same market capitalization as gold, the price per coin could reach around $900,000. With this huge profit potential, buying Bitcoin when it is less than $100,000 could be a smart investment decision.

Also read: Arthur Hayes Predicts Bitcoin Prices Will Rise High Due to China's Policies

Opportunity to Invest

For many people, the opportunity to invest in Bitcoin may feel like a second chance. If you feel like you're missing out on buying successful stocks, now is the right time to consider investing in Bitcoin. 

With tremendous growth potential and market trends showing that Bitcoin will continue to grow, this could be a great time to buy Bitcoin.

With all these factors, it is important to do your research and consider all aspects before making an investment decision. Bitcoin offers exciting opportunities, but it also comes with risks that every investor must understand. 

Make sure to monitor market developments and related news to make the right decision in your Bitcoin investment.

FAQ 

Why should I buy Bitcoin now?

Buying Bitcoin now could be a smart choice due to the potential for significant price growth. With Bitcoin's inherent scarcity and market trends indicating a possible price recovery, this could be a great time to invest.

What are the risks associated with Bitcoin investment?

Bitcoin investments come with high risks, including extreme price volatility. Bitcoin prices can drop drastically in a short period of time, so it is important to understand these risks and only invest money you are prepared to lose.

How to buy Bitcoin?

To buy Bitcoin, you need to create an account on a crypto exchange platform, such as Binance or Coinbase. After that, you can deposit funds into your account and buy Bitcoin according to the desired amount. Make sure to use a secure digital wallet to store your assets.

How to Buy Crypto on Bittime

Want to trade sell buy Bitcoins and crypto investment easily? Bittime is here to help! As an Indonesian crypto exchange officially registered with Bappebti, Bittime ensures every transaction is safe and fast.

Start with registration and identity verification, then make a minimum deposit of IDR 10,000. After that, you can immediately buy your favorite digital assets!

Check the exchange rate BTC to IDR, ETH to IDR, SOL to IDR and other crypto assets to find out today's crypto market trends in real-time on Bittime.

Also, visit the Bittime Blog for interesting updates and educational information about the crypto world. Find reliable articles about Web3, blockchain technology, and digital asset investment tips designed to enrich your crypto knowledge.

Reference

msn.com, Why XRP Is Sinking Today, accessed January 8, 2025.

Author: AWW