The cryptocurrency has been in the bear cycle for quite some time and this didn’t look to be ending any time soon. As August rolls into September, there have been a lot of predictions done and all of these come from the last couple of months. A lot of people believe that the price of Bitcoin is certainly going to rise and that it is going to come back bigger than it ever did. Unfortunately however, this is becoming less and less likely and there is no telling at all if this will even be the case by the end of next year, let alone this year. Sure, there has been a huge decline but the creator of Litecoin, known as Charlie Lee has even come out to say that cryptocurrency is still a good buy and that you should not panic at all. Lee has come out to say that even though there has been a drop off in price, there has still been an explosion of opportunity and that there is also going to be tons of chances for people to invest. There are long-term bulls and they have even come out to say that at the moment you really cannot afford to lose.
It is always good to buy on the way down because this will give you a much better dollar-cost so that you can average your buy-in. The main thing that you have to remember here is that you don’t want to spend money that you cannot afford to lose. As long as you do this then you should not have any problems at all. The Google and even the Coinbase engineer have also stated that you should exercise some caution about using borrowed funds to invest and this is especially the case if you want to invest in things such as Bitcoin. This practice became disturbingly more common when you look at the Q4 rally last year and now it is being proved more than ever before that it is nearly impossible to try and predict short term price movements. This is especially the case when you look at the bear markets because some of them can go on for years and this is the last thing that you need when you look at the bigger picture.
At the end of the day, it is in fact hard to predict prices. Some people have been working in this space for well over 7 years now and they think that sometimes when you look at everything you will see that it can take 6 months or even 4 years to try and make a comeback. The problem is that more and more people are starting to take speculation seriously and they are starting to see it as fact as well. Sure it is possible to look at the trends that are happening. Of course, it is important to know that there is so much for you to take into consideration when you invest and when you do look at the way you feel about an investment, that is easily the best way for you to move forward with your purchase.