As of this writing, Bitcoin has come off this year’s high of just above $9,000 and is trading around $7,950. After the big surge from $ 3,300 (this year’s low), is it still the right time to buy? My answer is: Yes!
1. Each time Bitcoin enters a bull market, it reaches new highs. And we’re nowhere near that point now. The last high was just above $ 20,000.
2. The fundamentals for Bitcoin and Crypto are still strong.
a) Corporate debt and government debt continue to rise. The Fed is either unwilling or unable to deal with it. Printing more money is not the solution. The fiat system is ripe for disruption. And investors need an alternative asset to move money into to hedge against the current system.
b) Bitcoin is scarce and limited. The most Bitcoin we’ll ever have is 21 million. It’s liquid and digital. You can trade it and move it around the world easily.
c) Bitcoin is sound, smart money. People know it and are comfortable with it.
d) Bitcoin is constantly improving. The Lightning Network is allowing Bitcoin to scale to the point where it will be able to process more transactions per second than the big credit card companies.
Sven Franssen