The crypto market is seemingly in recovery and our predictions for 2019 are seemingly plausible so far. However, this does not necessarily mean that we have seen the last of the so-called crypto winter. Instead, the steady rise of crypto establishes that the crypto market is slowly transitioning into another phase. And for those that are yet to explore crypto, it is never too late to start asking questions.
Here, we would answer the trending “Is this a right time to buy crypto” as new entrants are contemplating on taking advantage of the surge in prices, and yet they are unable to erase that lingering doubt concerning the unpredictable nature of crypto.
Is Now The Right Time To Own Crypto?
Interestingly enough, the answer to this question depends on which crypto’s use case you are particularly interested in. Are you looking to trade crypto or is the adoption of crypto as a medium of payment your primary interest?
Is This The Right Time To Adopt Crypto As A Medium Of Payment?
Retail adoption is emerging as the next phase in the mainstream success story and 2019 is already showing how much this would impact the growth of the crypto market. It is safe to say that the blockchain breakthroughs and upgrades cryptocurrencies are experiencing has begun to rub off positively on crypto’s explosion as a viable payment option.
Take the massive adoptions in Switzerland and Japan in the last few months and you will agree with me that it is becoming popular to make payments online and physically with crypto. If that is the case, then owning crypto now is not a bad decision.
Secondly, using crypto rather than the more conventional fiat currencies for your shopping eliminates the need to convert your local currency to a more globally accepted one, especially when you are doing cross-border shopping. Also, shopping with crypto does not incur as much transaction fee as using banks to facilitate transactions.
More importantly, the current uptrend in crypto prices means that owning crypto technically ups your buying power. Apparently, we can use 1BTC to buy more products today than we could five months ago. As such, if Bitcoin reaches anything near experts believe it would worth later this year, then owning bitcoin now could explosively transform your buying power. Therefore, going for crypto now is a no brainer.
Is Now The Right Time To Invest Crypto?
We have often mentioned that the best time to buy crypto is during a bear market. At one point the price of bitcoin hovered around the $3,000 price mark. And at that point, we declared that it was the best time to plan ahead for the bull market. If you did not take advantage of these lows, do not panic because it is not too late.
Crypto’s price is rallying and experts believe that we have seen the end of the crushing bear market that almost crippled the market. And judging from the price predictions we are beginning to see pop around in the media, there is resurging believe in the viability of crypto as an investment vehicle.
Needless to say, we saw how a similar market phase played out in 2017. In the run-up to the ecstatic bullish market in 2017, people began to see the investment possibilities of crypto and naturally, it spurred the peaking of prices. Although we are not yet in this stage, crypto is already showing recovery signs and it is only a matter of time before everyone would want to get a piece of the action.
Rather than wait for the crypto rush when it would already be selling for outrageous prices, buying now when it is still affordable is a wiser move. I am sure that you must have heard of the inspiring stories of how some crypto investors became millionaires in the aftermath of crypto’s bull run. Note that many of them did not become millionaires by buying crypto at an expensive rate. Instead, they did all their buying when crypto was selling for next to nothing, which afforded them the opportunity to gather as much coin as possible.
Professional traders know that crypto trading involves a careful analysis of the market, which also includes the assessing of psychological factors that could determine price trends. 2018’s bear market is a result of 2017’s euphoria that led a lot of people to continue buying crypto at absurd prices, even when the market showed signs of a bearish run. The “avoid crypto by all means” sentiments borne out of these ill-advised investments and the unrelenting push by popular media to declare the death of crypto have worked hand-in-hand in stretching the run of the bear market.
However, things are looking up, and it is only a matter of time before the same level of euphoria kicks in. And trust me, you would want to hold all the chips when this time comes. The only way to have a say in the upcoming bull run is to gather as much when the prices are still affordable. Having said that, buying crypto now it the right thing to do.
We have explored the two most important factors that could motivate you to buy crypto and from what we have learned so far, now is the time to join the market.