The crypto winter has hammered even the largest cryptocurrencies, including Bitcoin stock (BTC-USD).
Looking back in time provides a clear picture of where this digital asset is headed.
Let’s take a deeper look at why you’ll be very disappointed if you don’t purchase the world’s most valuable cryptocurrency while it’s cheap.
Bitcoin Has Always Recovered.
Bitcoin’s ascension has indeed been fraught with significant volatility. Several times in its existence, the leading cryptocurrency has dropped by more than 50%. Such moves do not occur in equities markets.
However, Bitcoin (BTC-USD) has always recovered from its lows to achieve new highs. Bitcoin (BTC-USD), for example, plummeted 83% from its high (at the time) in December 2017 to its trough in December 2018, only to surge again over the following six months. More recently, Bitcoin (BTC-USD) plummeted between April and July 2021, shortly before skyrocketing to an all-time high of about $69,000 in November.
Regardless of what occurs in any one month, quarter, or year, Bitcoin’s history is littered with cycles of higher highs and lower lows, as well as crashes and rallies. Consequently, investors would be advised to take advantage of the current crypto winter and buy Bitcoin (BTC-USD) at these levels.
A Forthcoming Halving Event
The Bitcoin network employs a consensus technique known as proof-of-work. This technique of verifying transactions necessitates using huge quantities of energy and processing capacity by so-called miners to add new blocks to the blockchain. Miners get rewarded in the form of fresh Bitcoin for their efforts.
Every four years, the mining incentive amount is reduced in half, slowing the pace of the increase in Bitcoin (BTC-USD) supply. Typically, the price of Bitcoin rises 12 to 18 months before a halving event. With the next halving expected to occur in the spring of 2024, around 18 months from now, Bitcoin’s price might begin to rise. As a result, purchasing now might be a wise investment.
Bitcoin Global Acceptance
Fintech businesses like Block, PayPal, and Robinhood Markets make it simple to purchase Bitcoin. And the goal is that these enterprises will pique the curiosity of additional individual investors.
Furthermore, the recent agreement between the massive asset management BlackRock and crypto brokerage and exchange operator Coinbase may attract additional funds from huge institutional investors as they begin to regard Bitcoin as a credible store of value asset. Meanwhile, it’s all about offering the tools needed to acquire Bitcoin stock (BTC-USD), which is a growing list.
Is Bitcoin Stock a Buy?
This is a no-brainer, in my opinion. Throughout its history, Bitcoin stock (BTC-USD) has always rewarded patient investors with a five-year time horizon. There is little question that the road ahead will be fraught with volatility and unpredictability, particularly given that this asset is still in its early stages of worldwide acceptance. However, given the steep reduction in its price this year, it is an excellent moment to acquire Bitcoin stock (BTC-USD) on the cheap.
Featured Image- Megapixl @ Cegli
Author Okoro Chinedu 
