Should you buy Bitcoin when the price drops?


#1

Originally published at: https://wirexapp.com/should-you-buy-bitcoin-when-price-drops/

On June 12, 2017, bitcoin hit its all-time high. Its value inched close to the $3,000 mark for the first time in the digital currency’s history. However, only three days later, its price dropped back down to $2,264, which amounted to a 24 percent drop in value. This steep drop spooked many new bitcoin investors that had only recently entered the market. In the past, when bitcoin experienced substantial price drops, novice bitcoin investors often sold their coins…


#2

Is there likely to be another big Bitcoin price drop in the near future? And if the plan is to hold on to Bitcoin as long as possible, should I wait around in hope of a price drop or just buy some Bitcoin regardless?


#3

Good question, the price of Bitcoin will generally rise; it’s value this time last year was just shy of $600, as I write this comment, it’s currently trading at over $5700 that’s nearly a 10 fold increase. Unfortunately, this hasn’t been a smooth ride, and Bitcoin remains pretty volatile.

If you are looking to buy Bitcoin, never sell it for less than you bought it for. But it’s worth remembering that the wait can take up to three years, in the worst case scenario for this to happen. This is if we look at historical trends.


#4

As Bitcoin has taken a slight stumble in the last few days and the value of Dash increasing, could Dash be a better short term investment opportunity?


#5

When looking at investing in any coin; you should always look at the fundamentals of the coin.

What this means is anything that could give the coin value; this includes things like, real world applications, technological innovation, first mover advantage.

Let’s use these guidelines with Dash and see if it offers any fundamental value.

Real World Applications:
In my opinion Dash has more real world applications than Bitcoin does; Dash has InstantSend and PrivateSend; which are features that Bitcoin needs.

Technological innovation:
Although Dash is open source software; very similar to that of Bitcoin. Dash has applied innovative improvements to decentralised, blockchain technology; like ‘Masternodes’ and governance structures.

First Mover Advantage:
Dash was the first cryptocurrency to introduce the Masternode network; and to great success; as now many other coins have copied the technology and have started to employ their own network of Masternodes.

This is a basic outline of why Dash might be a good investment opportunity; but other reasons include that it has less than 8million coins in circulation (Bitcoin has around 16m) and it also has a governance structure.

When looking at any potential investment I always recommend at least reading the website, and researching the founders, as a minimum.


#6

The Price of Bitcoin has dropped; what are peoples thoughts on what to do?


#7

Wait until it drops more (13K USD?) and then buy all you can :slight_smile:


#8

Fingers crossed that we get this low


#9

Haha; you were spot on the money here; I actually bought at this signal :blush: