Despite the ups and downs in the Bitcoin value and its obvious profitability, even more, people are asking us the questions of whether to get into the trade or not. The other big question on the minds of those, who have already made the decision, is the question of when the best time to buy and sell Bitcoin.
I will now not be giving you a direct answer, and I strongly propose you not to take the phrases of pundits who declare to offer price charts and pick particular dates for it.
Bitcoin is not a company or a stock. It is a virtual currency. If you still don’t quite get what Bitcoin is, you shouldn’t be asking this question and you may wish to defer to the plethora of the many articles to be published on RedimIT in order to get a clearer understanding.
So, when you finally decide to invest in crypto, you are essentially buying a currency like the US Dollar or Euro. So, if you do feel compelled to buy some Bitcoin or another cryptocurrency, it’s wise to follow the recommendation of another billionaire — Mark Cuban, the tech entrepreneur, Dallas Mavericks owner, and “Shark Tank” star.
Cuban told MONEY that Bitcoin is “still very much a gamble,” and that no one should be putting money into cryptocurrencies that they can’t afford to lose. Then again, “If you have the money you can gamble with, then it’s worth taking a shot,”
However, there are also some specific strategies for investing in BTC. Believe it or not, there seems to be the best day of the week, and the best time of day, to buy and sell Bitcoin.
In our next blog post, we will share some well-informed pointers that will help you make the final decision on knowing the best possible time to invest your money in BTC, either you are buying or selling. And we believe this is the best that we or anyone can give you.
Unlike stocks or bonds, cryptocurrencies are highly volatile, much more so than traditional investments. This can be both good and bad: on one hand, you can make some quick and easy profits on a good day, but you could also lose your entire investment in the next. I encourage you to reach out to us anytime as we will be ready to assist you in your BTC investment process.