Bitcoin Is Rising: What To Do If You Can’t Afford A Whole Bitcoin?
Tags: Trading, Cryptocurrency Investment, Cryptocurrency, Bitcoin, Investing

Photo by Aleksi Räisä on Unsplash

The panic and excitement going around recently reminds me of Nov 2017 — Jan 2018 when Bitcoin was rising astronomically up to $20K and FOMOers were purchasing at the $18K peak, killing their investment dreams.

Recently Bitcoin hit the over 14K ceiling which it last hit in Jan 2018. Back then, after the 19K rally Bitcoin dropped over the consecutive months to below $5K. And the skeptics had a lot to say about that — that it’s the end of Bitcoin and crpytocurrency madness.

But here we are, again.

Bitcoin has risen to previous levels — and will keep on rising.

Investors who purchased after the $5K and below dip are now getting rewarded for their patience and discipline.

And again, people are so worried to miss out on another Bitcoin chance that perhaps some are going crazy nervous about what to do.

Here’s the thing — Bitcoin will keep on rising. It’ll rise steadily to over $20K — maybe more, but ,again, drop as excited (impatient) investors cash out their profits and again, late investors panic and quickly sell.

Bitcoin Graph 2012 to Nov 2020

As the digital currency continues increasing in value, it’ll get more stable. Meaning it’ll get harder to drastically rise and drop as time goes on. And it’ll also get more expensive.

Currently more than 88% of total Bitcoins have been mined. And Bitcoin miners are getting more reluctant to sell their bitcoins thereby increasing the scarcity of the crypto.

The question of whether Bitcoin is a currency or whether there’s any future in cryptos is for another time.

But for now, if you want to own Bitcoins and you can’t because it’s so expensive, what should you do?

How To Afford Bitcoin When It’s Expensive

At the time of writing this, Bitcoin is at $15K and steadily rising. In the next few days/weeks it’ll keep on rising and then fall.

Excited impatient investors will be keen to cash their profits. And fall a bit harder as, again, people panic sell— while value investors wait for the prime price to purchase then it shoots back up.

Right now we do have some historical evidence of how Bitcoin has been performing for us to determine what happens next.

Of course, this isn’t a guarantee. Neither is it a strong basis for investment judging. But it’s a good reference point if you want to find a prime point to purchase the currency.

If you want to own a Bitcoin and can’t, then it’s good to know you don’t necessarily need to purchase a full Bitcoin to own one.

You can purchase half, quarter or even less of a bitcoin and watch it grow.

The cryptocurrency industry is a community driven initiative, which means anyone can have a piece of the pie for the amount they have.

You can even purchase and own a piece of Bitcoin for even $10 or less.

The best place to purchase Bitcoins is Coinbase.

It’s even possible to purchase Bitcoins in your local currency through offshoot platforms.

But take caution with your money.

With the rise of Crypto world, there’s been a rise of scammers looking for a quick buck (Bitcoin) from unsuspecting, naive newbie investors.

Why You Should Invest In Bitcoin Even If It’s Expensive

There are so many new crypto currencies rising everyday.

With the lure of easy mining, easy ownership of ‘the next Big Bitcoin’, it’s easy to want to take your $50, even $1000 to the next new crypto.

I hate to say this, but over 90% of cryptocurrencies have little to no growth potential. Of course, some of them will experience a small growth burst — and if you’re looking for quick money, they’re a good option.

Just know when to enter and exit.

But if you’re looking to be a HODLer (Hold Onto Dear Life) AKA veteran crypto investor, it’s better to own a small share of the Bitcoin pie than be King to some shady cryptocurrency that’ll never see the light of day.

Some of the top alternative coins do have potential. And it’s great to diversify your crypto portfolio too around 2–7 or so coins.

But Bitcoin still is Crypto King.

Why?

While some of the coins (Ripple and Ethereum etc) still have ties with traditional finance houses, Bitcoin is completely decentralized.

It is market driven. Created for the people, run by the people. It’s the hallmark of rebelling against the status quo. For those people who are just fed up of being monitored and controlled by governments or being under the whims of someone else, Bitcoin gives you control over your money.

It’s scarcity value, high volume, liquidity, high number of merchants and stability over other coins also make it favored by people thereby still reigning it at position one.

Is This A Great Time To Buy Bitcoins?

Am of the popular investment club of ‘Buy Low Sell High’

Currently Bitcoin is strongly bullish.

If you want to purchase Bitcoin right now I’d suggest buy short term. As it’ll peak and reverse. Then sell.

Then wait for the prime price point to properly buy for long term HODLing.