Top 3 Reasons why you should Buy some Bitcoins
Should you buy Bitcoin despite the bearish market crypto? In this article, we list the top 3 reasons to buy Bitcoin today.
Which topics should we dive deeper into?
Select what genuinely interests you. Your picks feed directly into our editorial planning.
Crypto news that's actually worth your time.
Weekly. 60 seconds. Carefully curated by our editors: no hype, no promo flood, no spam.
Bitcoin has been steadily declining for the past six months. During the last six months, the price has lost about 50%, which is rational for the Bitcoin bear market. However, this bear market, like any other, eventually comes to an end. That end could be coming soon, as Bitcoin price reached a strong support level around $33,000. In this article, we list the top 3 reasons to buy Bitcoin today.
#1 Bear Market is coming to an End
In the past, the Bitcoin price has always reached the low price of the bear market in the month of January. If we look at figure 1 below, we can see those times in January 2015, and January 2019. The last halvings were in 2016 and 2020. Since the chart history tends to repeat itself, we assume that the Bitcoin price will form the bottom of the bear market by the beginning of next January 2023 latest. So we still have about 7 months until things can pick up again. That’s why planning accordingly is crucial in order to catch the right trading setup.
#2 Emerging Halving
Bitcoin has a halving approximately every 4 years. During this event, the block reward is reduced by half, which is why half as many bitcoins per block come onto the market every 4 years. This event will take place in 2 years. Historically, bull markets have started shortly after the halving has taken place. As soon as the halving arrives, which is expected to take place on May 3rd, 2024, the bull market could start. The bear market ends sometime before the halving, which is why you should keep your eyes open.
#3 Big investors won’t let Bitcoin Price sink lower
One of the biggest investors in Bitcoin is the company “Microstrategy”. Microstrategy owns a total of 125,051 bitcoins, purchased at an average price of $30,200 per bitcoin.
MicroStrategy has purchased an additional 660 bitcoins for ~$25.0 million in cash at an average price of ~$37,865 per #bitcoin. As of 1/31/22 we #hodl ~125,051 bitcoins acquired for ~$3.78 billion at an average price of ~$30,200 per bitcoin. $MSTRhttps://t.co/bF6VImC0Qy
Michael Saylor, the founder and CEO of Microstrategy, is unlikely to let the Bitcoin price drop below $30,000 lest the company experience negative trading. Instead, Michael Saylor could decide to borrow more money so he can invest in Bitcoin so that other private investors follow suit and the price goes up. Since the last low is around $28,725, we do not expect Bitcoin to fall below this level. We would still imagine a test of the brand, but no lower courses.
Related articles
Which topics should we dive deeper into?
Select what genuinely interests you. Your picks feed directly into our editorial planning.
Crypto news that's actually worth your time.
Weekly. 60 seconds. Carefully curated by our editors: no hype, no promo flood, no spam.
March 12, 2024 1:24 AM
Bitcoin’s Phenomenal Surge: MicroStrategy’s Bet and the Gold Comparison
Explore the rise of Bitcoin as it challenges traditional assets like gold and silver, driven by MicroStrategy's significant investment.
March 10, 2024 6:01 PM
Will Bitcoin Fall in the next couple of days?
Explore Bitcoin's volatile journey, from dramatic highs to recent falls, and what future trends may hold for investors. Simplified insights for everyone.
December 28, 2023 11:02 PM
Altcoins to BUY Before the Crypto Bullrun in 2024
The year 2023 was marked by a bearish trend in the crypto market, with prices remaining low for most of the year. Which altcoins to buy now?
February 19, 2023 7:05 AM
Top 5 Cryptocurrencies Of The Week – Week 7
This article is all about the top 5 cryptocurrencies that displayed good performance in the last seven days. Let's take a look at it.
January 8, 2023 6:18 AM
Top 5 Cryptocurrencies Of The Week – 1
The first week of 2023 just finished and this article will discuss the top five cryptocurrencies of the week.
November 24, 2022 8:13 AM
Top 5 Undervalued Cryptocurrencies of 2022
What cryptocurrencies are presently under priced? This article is all about the top 5 undervalued cryptocurrencies of 2022
September 5, 2022 7:52 AM
Top 5 Cryptocurrencies of the Week -Week 35
This post is all about the top 5 cryptocurrencies that displayed good performance in the last seven days.
August 17, 2020 4:34 PM
BTC Price Analysis: Bitcoin Price Passed 12K
The Bitcoin price has finally touched a $12,000 mark. The price was stuck in $11,900 and was almost showing lazy movement in the past 48 hours. At the time of writing this, the BTC price is sitting at $12,160.73 (+2.50%). Let’s […]
August 11, 2020 7:15 AM
Can Bitcoin Price Realistically Ever Reach $1 Million?
Throughout the existence of Bitcoin, we have seen many outrageous Bitcoin price predictions. Of course, at the beginning even $100 looked like an insane prediction. One of the most famous predictions was John McAfee’s $1 million bet that he posted […]
December 20, 2019 1:25 PM
Is Bitcoin Safe?
The world’s most popular cryptocurrency Bitcoin always comes up with surprises because Bitcoin is volatile. There are many reasons for this. The most important reason is that BTC is gaining traction and this is because the world is becoming ever […]
December 9, 2019 5:20 PM
What Is Worse Than ‘Bitcoin Crash’?
With its price dropping over 67% in the span of a month, Bitcoin has had quite the bumpy start to 2018. The digital currency, which caught the world’s attention when its price inflated to over $20,000 in January, just recorded […]
June 24, 2019 7:39 AM
Bitcoin rises sharply – what are the reasons?
It’s clear to everyone now that Bitcoin is here to stay. The father of all cryptocurrencies is observing some strong gain. With explosive power, last week Bitcoin managed to jump over the psychologically important $ 10,000 hurdle and now seems […]
July 21, 2023 6:24 PM
Michael Saylor Bitcoin Prediction: BTC Price will reach $1 Million?
Michael Saylor Bitcoin prediction: Bitcoin is the best investment in human history and could soon take over the world. What are his reasons?
October 19, 2020 9:19 PM
Bitcoin Price Analysis – IS BITCOIN STILL WORTH IT IN 2020?
The leading cryptocurrency has proven its perseverance through years of tough market fluctuations, and the year 2020 was no exception. Bitcoin Price Analysis – A strong start of the year 2020 Bitcoin opened the year with a price of approximately […]
January 23, 2020 6:17 PM
How to become a Bitcoin trader
You’d like to become a Bitcoin trader and want to trade Bitcoin and other cryptocurrencies? In this article, you’ll learn everything you need to know about becoming a trader! Difference between Bitcoin trader and investor Contrary to an investor that […]
September 5, 2019 3:18 PM
Bitcoin’s Market Share at its Highest since March 2017
There was a time when Bitcoin was the only cryptocurrency around, and this was away back. But altcoins have since then hit the market, and many have thrived. This has brought the dominance of bitcoin in the crypto space under […]
May 21, 2022 12:56 PM
How long will the Bitcoin bear market last?
How long will the Bitcoin bear market last? In this article, we analyze the factors that led to a bear market, and how prices could develop.
September 25, 2019 3:11 PM
Bitcoin and other cryptocurrencies crashed – Reason?
While 2019 has usually been a fabulous year for the Bitcoin price, those who have been following the cryptocurrency market for the past week have noticed a diverse story unfold. The value of the world’s oldest and most successful cryptocurrency […]
May 14, 2019 5:26 PM
Analysis: Why do so many people hate Bitcoin?
Cryptocurrency is an issue that obviously cannot be neutral. Since the inception of Bitcoin, there are passionate “Bitcoin fans” and passionate “Bitcoin haters”. The interesting thing is, however, that this objection often comes from outsiders who have never traded cryptocurrencies […]
February 26, 2024 7:36 AM
Bitcoin Price Prediction: When will the Bitcoin price surge to $70,000?
Recently, Bitcoin's price has surged dramatically over the past few weeks. Let's take a look at this Bitcoin price prediction article.
February 18, 2024 11:00 PM
Is the Bitcoin price soon going to reach an all-time high? Here’s the easiest way to buy Bitcoin!
Bitcoin prices have been skyrocketing lately. Let us walk you through how to buy Bitcoin from the trusted and regulated Bitget exchange
January 10, 2024 7:41 AM
Bitcoin ETF News LIVE Update: Will the BTC price continue to drop?
Bitcoin ETF News LIVE Update: Will the BTC price continue to drop? Now, due to fake news, Bitcoin price is displaying bearish momentum.
October 24, 2023 4:13 AM
Bitcoin News: Bitcoin Jumps 12% to Hit $34k in a Day!
Bitcoin's price makes a big leap, reaching $34,000 in just 24 hours. Discover the key events in the crypto world that fueled this impressive rise.
September 4, 2023 7:45 AM
Bitcoin Price Prediction: Bitcoin’s Price Could Explode to $50,000 in Just 6 Months!
What makes us foresee a significant uptrend in the upcoming months? Let's take a look at this Bitcoin price prediction article.
April 28, 2023 10:01 AM
Big Bitcoin News: Can Bitcoin Price Reach $50,000? Check These Five Reasons
The important question is whether Bitcoin price to reach $50,000 soon or not. Let's take a look at the five reasons in more detail.
More from CryptoTicker