Four Reasons Why it’s not too Late to Invest in Bitcoin

In January of this year, the price of Bitcoin reached an all-time high of about 20,000 US dollars (data from the live market of bitcoin chart in citicoins), which aroused public concern. Since then, the world’s largest cryptocurrency has depreciated by about 70%, but experts say it is still a very attractive investment. There are four reasons for this.

1.Tom Lee: The current bitcoin price indicates that a huge bull market is coming soon

Tom Lee, principal analyst at Fundstrat Global Advisors, pointed out that the current trading price of Bitcoin is about 30% lower than the 200-day moving average, which is a “quite positive signal.” The analyst also said that if you can buy BTC below the 200-day moving average, then “the probability of making money in six months will exceed 90%.”

Tom Lee also pointed out the fact that Bitcoin technical analysis today is increasingly powerful, and a positive news wave has also played an important role.

2.Barry Silbert: The critical infrastructure for institutional funding is under construction

Barry Silbert of the Digital Money Group, an early investor in Bitcoin, said that 2019 will become a big market for Bitcoin. Because with the upcoming preparations for infrastructure, institutional investment will begin to flood. He also pointed out that we have seen this trend, as institutional investors accounted for 56% of grey investment, with a total value of $250 million. Barry Silbert believes that bitcoin prices have bottomed out, “the bear market has run out of energy” – almost everyone claims that the bear market is over.

3.Patrick Gray: The growth potential of Bitcoin is huge

We can also see from the live market of bitcoin chart that although the price of Bitcoin has shrunk by 70% from its peak in 2017 in January this year, it is still a huge improvement compared to the beginning of 2017.

Barry Silbert, CEO of HashChain Technology, said: “At present, the penetration rate of cryptocurrency is only 0.2%, but the growth rate is doubled every year. At this rate, the potential and opportunities for the next decade are enormous. Despite some recession, this growth potential and growth rate should not be ignored.”

4.Boris Schlossberg: Bitcoin may be a “legal way of storing value”

Boris Schlossberg, managing director of foreign exchange strategy at BK Asset Management, is a long-term investor in Bitcoin, and he has given tremendous support to the recent rebound of the first and most important cryptocurrency (bitcoin). He even pointed out that further growth is not impossible.

Boris Schlossberg also said that as blockchain technology “is becoming more and more important in the mainstream financial industry,” Bitcoin can be seen as a legitimate way of storing future value.”

To a certain extent, I agree with the reasons of these four experts, but I think Bitcoin’s pressure line is around $9,000. Only by breaking this point will there be a possibility of further increase.