Last updated on October 13th, 2017 at 06:19 pm
The question comes up to investors and people all across the web: “With Bitcoin prices moving up and down should I buy Bitcoins now?” Well, the answer to that question is if you need it to spend it, sure. However, if you are looking to invest in BTC, and would like to buy multiple bitcoins in hopes of making money off from them, try to wait till Bitcoin is at the lowest price possible because then it is only going to have room to move up. Of course, the real trick is determining what the “lowest price” will be in the near future…
Should Bitcoins be purchased now? Yes, because there are record numbers of Bitcoin transactions happening in 2015. More than ever before people are using Bitcoin, so that shows this currency is really starting to pick up in popularity, even if the recent drop in price does not seem to indicate this.
Use Bitcoin’s Longterm Price Trend to Decide if You Should Buy BTC
Is it a good idea to buy bitcoins at this point? Well, I think so, and I have been buying BTC when I can. Bitcoin is currently at $222.19, and within the last two weeks there has been a time when Bitcoin was at $300.00 and above. So if you buy know at $222.19 and wait till it reaches $300 and sell you would be making a large percent of money on the Bitcoin investment. So if you are looking to invest and thinking should Bitcoins be bought now then you may just be right. However, 2 weeks is a short period of time. The price of Bitcoin has dropped significantly over the past year or so, but overall, it is worth many times more than it was at the start of 2013. Longterm trends, and the accelerating adoption of Bitcoin by businesses, are still very positive.
The Future Of Bitcoin’s Price and Demand
The Bitcoin price has been going up since it dove down to $200.00 this year. This makes people hesitant when deciding if buying bitcoins is a smart decision. The market has a high demand for bitcoins, and bitcoins are being sold all the time. However, for every bitcoin sold, there is someone buying it on the other side. With the increase in transactions, we can see that this, combined with market adoption, is resulting from a higher and higher demand for the currency.
Deciding to Buy Bitcoins Requires Thinking of Bitcoin’s True Value
There are many ways to ask the question “Should I buy Bitcoins now?”, and there are just as many answers, based on what you use to judge it’s value. No matter what way you are asking, you are going to want to know the most likely answer, and some good facts have been outlined in these three articles that may influence your decision: “Is Bitcoin Mining Worth It?“, “What is Bitcoin?“, and “How to Buy Bitcoins Today“. I recommend you take this advice in the articles, and invest in Bitcoin, if you can afford it. Remember, at one point Bitcoin was at over $1,100 each, which is just one more reason the answer to the question “Should I buy Bitcoins now?” is yes. That price was much too high for the time, as the infrastructure to support it was not there, but the market has corrected itself. With recent advances, such as Microsoft accepting bitcoins, Braintree’s integration of Bitcoin into their new beta platform, and a plethora of decentralized systems being built to support Bitcoin’s future, it is very likely that we will see BTC stick to a constant, if volatile at times, upward trend.
So, Should I Buy Bitcoins Now? Well, Google Is
Google, the world’s largest search engine, and one of the most foreward thinking companies, helps to answer the question with their recent actions. Google is teaming up with Coinbase to incorporate Bitcoin into Google Now, at least in a way. Also, they have expressed interest in Bitcoin in the past, and known Google employees, and ex-employees, are significantly involved with Bitcoin. Coin Brief has asked the question,”When Will Google Accept Bitcoin?” in the past, and it is not hard to imagine the company opting to start paying Adsense publishers in Bitcoin, which would give the Bitcoin much-needed stability and a place in the home of thousands of webmasters. Even if this were limited to advertisers that chose to pay with BTC, matched with websites that chose to accept bitcoins, it would greatly simplify the process, allow instant payment, and reduce Google’s own costs.
In the end, think about the difference aspects of the purchasing Bitcoin question, and ultimately create an answer for yourself. Just know this you can make quite a bit of money by investing in Bitcoin, but, as with any investment, there is risk. While I think now is the perfect time to buy bitcoins, you should never invest more into Bitcoin, or anything else, than you can afford to lose.