Should You Buy Bitcoin (BTC) amid CoronaVirus Pandemic?
Bitcoin price has seen a massive plunge of over 55% amid the CoronaVirus pandemic. The question is, “is it advisable to buy the crypto-currency BTC amid COVID-19 outbreak?”
First thing’s first. If you are not a crypto-believer then this is not your cup of tea. The reason being the unpredictable nature of this digital currency. To give you an example, at its peak, Bitcoin price went up over $19,000 and then we saw it dive down to around $5000 a couple of years later. This something we don’t normally see in other investments and is certainly not a game for the faint-hearted.
However, believers are eager to know if they should buy Bitcoin during the CoronaVirus pandemic. I am not an expert on cryptocurrencies but I think it’s not a bad idea to invest in it right now. In the past few days, we saw it rise to $7500 then falling to a low of $3500 and as of now, it is somewhere around $4700.
We also know that the Bitcoin price tends to touch peaks of $19,000 and coupled with people’s interest, this crash is the right time to buy. Those who believe in it are familiar with Hodlonaut (Twitter handle). A recent tweet by this account also supports the idea that investors should buy Bitcoin amid this plunge.
Hodlonaut says that according to his friends, Nocoiner, the crypto is here to stay and the low price makes it easier to buy.
Two Nocoiner friends contacted me today, asking how they can buy Bitcoin. We talked a bit. It’s related to them being uneasy about money printing and NIRP. Bitcoin being looked at as ‘here to stay’ by them and now on sale.
The goal here is not to buy & sell overnight. It’s all about acquiring as much of it as you can while keeping an eye on its daily statistics. Dankanator will keep you updated. Meanwhile, you can share your knowledge of the digital currency in our comments section.