Should You Buy Bitcoin Right Now?
One of the most frequent questions that newcomers to the crypto world have is when to buy bitcoin. Naturally, people want to get in at the lowest price. This is so that when they make their exit, they can make the maximum return. Also, traders or investors don’t want the prices to crash after the buy. So, there is always this dilemma in people. This is evident from data about people searching “buy bitcoin Canada” and “buy bitcoin Toronto”.
According to search trends and other metrics, currently, people are more interested in bitcoin than ever. The Black Thursday event has made bitcoin more affordable. There are also many events lining up that have historically been bullish. So, it’s best to know about these before making a decision.
Upcoming Halving
The bitcoin network goes through an event called ‘halving’ every four years or so. Basically, after a halving, the new supply of bitcoin is reduced in half. Naturally, if the demand remains stable or increases, price skyrockets also. Bitcoin’s halving is about to take place in less than a month. Historically, prices have increased a lot in the months after the halving.
This means, right now is the perfect time to buy bitcoin. You can sign up on a Canadian bitcoin exchange and make your first purchase now to get started. Canadian crypto exchange has come a long way in terms of safety, user experience, user interface, regulatory compliance, etc. Therefore, you can rest assured that your crypto purchases will be seamless.
The Next Bull Run
Historically, bitcoin goes on a parabolic run every four years. The last time this happened was in 2017. On January 1, 2017, bitcoin’s price was at about $1000. By December 2017, bitcoin had reached an all-time high of $20,000. In the previous cycle too, something similar happened. This shows the potential of returns that bitcoin can provide.
According to past trends, the next bull run may peak in December 2021. So, there is still time to load up on some bitcoins. You can use the Canadian crypto exchange to do the same. If bitcoin follows past cycles, it should start slowly grinding up after the halving. So, right now might be a good time to buy some.
Word of Caution when buying bitcoin
The world of cryptocurrency is a volatile one. Things can change rapidly. The recent crash of March 12 can serve as a reminder. In the short term, literally anything can happen. However, things often stabilize in the long term. So, if you are a believer in the philosophy and ethos of crypto, you should look for long term investments. If you do this, short term volatility won’t bother you.
Also, make sure to invest only what you can afford to lose. Bitcoin is still a new industry and there are no guarantees to its success. You should also make sure that you store the bitcoin you purchase in a secure manner. Hardware wallets are best for this. As with anything else, do your full research before diving in.
One of the most frequent questions that newcomers to the crypto world have is when to buy bitcoin. Naturally, people want to get in at the lowest price. This is so that when they make their exit, they can make the maximum return. Also, traders or investors don’t want the prices to crash after the buy. So, there is always this dilemma in people. This is evident from data about people searching “buy bitcoin Canada” and “buy bitcoin Toronto”.
According to search trends and other metrics, currently, people are more interested in bitcoin than ever. The Black Thursday event has made bitcoin more affordable. There are also many events lining up that have historically been bullish. So, it’s best to know about these before making a decision.
You can buy Bitcoin and other cryptocurrency safely & directly from PCCEX Cryptocurrency Exchange by registering. Buy, sell and trade Bitcoin on PCCEX, Canada’s best cryptocurrency exchange.
Should You Buy Bitcoin Right Now?
