After months of decline, the price of digital currencies such as bitcoin will begin to rise after reaching its bottom, experts say.
Five days before the end of February 2021, analysts and financial experts point out that it is the best moment for invest in cryptocurrencies even though its value is low.
Octavio Mata, founder and CEO of Cryptomata Pro, explained that the best moment to always enter a financial market, such as the cryptocurrenciesis when they are cheap and it is easier to enter.
“You should take advantage when prices are accessible and have not yet exploded or risen much. What happens many times is that when people see that a currency has risen a lot, that’s when they want to enter, and what happens next is that they lose money because later the asset has to return to the price it was at,” he said. .
Everything that goes down, then goes back up
From the all-time high to the recent low, the bitcoin has been on a downward trend for the past few months. However, all the data indicates that a “floor” has been marked, and the popular cryptocurrency It will start to rise very gradually.
Crypto ecosystem experts believe that we could be close to a new upward takeoff, just as it happened in September 2021.
It is highlighted that China’s repression against the crypto industry, the decision of the United States Federal Reserve to raise the interest rate and the conflicts in Kazakhstan (the second largest mining center in the world), among others, were the cause of the latest short-term downtrend bitcoin.
Now, all this would have already been discounted by the market and a rise would be coming, since every asset and market is made up of ups and downs.
“Buying at lows and selling at highs is almost impossible. What is possible is to do analysis, a fall as important as that of January 6 due to an event external to bitcoin it was easy to predict that it would reverse. You also have to understand that bitcoin is a cryptocurrency volatile; let’s not forget that in the last 5 years there has been an increase of more than 5,000%”, explained Ricardo Mora, investor in cryptocurrencies.
As it is an extremely volatile asset, as well as the bitcoin it can go through strong declines in short periods of time, it can also bounce back and provide profits, it all depends on the moment of purchase.
And currently, after correcting its value by more than 40% and consolidating a short-term floor, it is a good entry point for investors.
Find the best option
Currently, there are about 5,000 cryptocurrenciesbut the most used are bitcoin and ethereum. Mora advises that, before investing, the main options be thoroughly investigated to establish the one that best suits his profile as an investor.
There are people who have more risk tolerance if they see that the profit potential is high, but others look for an investment that generates income little by little with a view to the medium and long term. That is why you must first understand how the price fluctuates and how the digital currency market works, where part of its resources will be allocated.
To do that research, and start investing safely, you can find secure platforms on the internet, which even offer step-by-step guides.
Mora recommended that if you decide to invest it be with little resources to start, and that this does not impact the budget or expenses for daily life. (JS)
DATA.- Currently, a bitcoin is trading for a little over $38,000, but you can invest in a fraction of that cryptocurrencyaccording to your budget.
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