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2019-10-27 15:27:07
Jacob Fisher

Editor

2019-10-27 15:27:07

Expert says when to buy Bitcoin!

Joel Birch, founder of the Lunar crypto-investment platform, believes that at the moment it is the best time to buy bitcoin.

Joel Birch, founder of the Lunar crypto-investment platform, believes that at the moment it is the best time to buy bitcoin.

Joel Birch, founder of the Lunar crypto-investment platform, believes that at the moment it is the best time to buy bitcoin.

In his opinion, any purchase of the first cryptocurrency at a price below $ 8,000 will be successful.

The “buy low, sell high” strategy is not very effective, Birch said in an interview with Forbes.

The founder of Lunar believes that an averaging cost strategy is much better. It involves the regular purchase of an asset for a certain amount, regardless of the price level, writes forklog.

“I can’t say whether Bitcoin will reach $ 3000, $ 4000 or $ 6000. However, for me this is not important, because I believe that any price is good if it is below $ 8,000, ”Birch said.

He does not rule out a decline in BTC to around $ 6,000. However, after this, in the first quarter of 2020, an upward movement will begin, and the positive trend will continue until May halving.

Reducing the reward for the bitcoin miners in May next year (halving) will positively affect the BTC rate. Ultimately, Bitcoin will reach $ 20,000, says the head of Lunar.

The head of Galaxy Digital cryptocurrency bank Mike Novogratz believes that the first cryptocurrency may drop another 13%, finding support at around $ 6,500. But then Bitcoin will rise again to $ 10,000, although it will take some time.

“Recently, there have been many negative events, and Bitcoin“ needs new energy ”to return at least above the level of $ 8000,” Novogratz told CNBC.

In his opinion, one of the main negative factors was the Telegram’s trial with the US Securities and Exchange Commission (SEC), which delayed the launch of the TON project.

Despite the bearish sentiment in the market, the head of Galaxy Digital plans to open soon a new fund to invest in bitcoin and begin to provide custodial services. New services will allow you to invest in cryptocurrency without creating an account on Coinbase.

“Zuckerberg’s performance drove the last nail into the market’s hopes of a reversal. Facebook CEO has acknowledged his willingness to obey the will of the US authorities, ”said the FxPro analyst team. - “Was the 2017 cryptocurrency market a culmination of the beta test of digital currencies before the release of“ official tokens ”? In this case, large-scale prospects for decline open up before the cryptocurrency market. ”