Is It Smart to Buy the Bitcoin Dip? New Price Prediction
The Bitcoin (BTC) price fell below $90K and hit $86,201 (BTC/USD) today, and as it dips so low, investors are wondering whether this is the right time to buy.
Even though Bitcoin may be low right now, below the psychologically important $90K, we still believe it is a good investment. If any cryptocurrency token can make a comeback, it is Bitcoin, which has shown time and time again that it is capable of dashing expectations and proving naysayers wrong.
Why Bitcoin Is Low
Bitcoin is definitely struggling even as the stock market starts to climb. The value of Bitcoin fell sharply on Wednesday after trending down for several days. The last time this coin was above $90K was Tuesday, and it has fallen about 20% in the month of February.
There are several reasons why Bitcoin has been falling lately and has lost nearly 15% over three trading sessions. One of the biggest influences on the plummeting price is the slow release of cryptocurrency programs and regulations from President Donald Trump. He promised to be a pro-crypto president, but so far, he has been slow in getting anything going that will significantly help the cryptocurrency market.
There are also concerns over tight inflation and new tariffs that could affect the economic state of the U.S. If income is low and funds are tight for investors, then they are less likely to put their money into cryptocurrency like Bitcoin.
The third major factor affecting Bitcoin’s performance lately is the rising security concerns from a recent $1.5 billion hack that occurred on the crypto exchange Bybit. When people feel like their investment is no longer safe, they are likely to pull out.
Why Investors Should Buy Right Now
Even with all of those factors working against Bitcoin, they are only going to temporarily affect the value of the coin. Bitcoin is at its lowest point since early November of last year.
Of course, it was Donald Trump’s election win that propelled Bitcoin past $100K in the first place, and we should see similar rising action once Trump puts some new policies in place that will target cryptocurrency. We expect to see some of these later this year.
Bitcoin should also climb after tariff fears settle down. Even if some of the feared tariffs do go into effect, the uncertainty surrounding them is sometimes worse than their actual effect, so that factor may diminish later on in the year as well.
Because Bitcoin is so low and has a strong recent history of staying above $100K, we expect that its current price point could be the lowest it will hit for a while, and this may be the best chance that investors have to get on board early.
ABOUT THE AUTHOR
See More
Sidebar rates
Related Posts
Save
Join 350 000+ traders receiving Free Trading Signals
Alerts
Rates
Calendar
Signals