Is this the best time to buy Bitcoin?

Is this the best time to buy Bitcoin?

By jordanjnr | Crypto Digest | 25 Nov 2019


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Bitcoin's price is falling. And it's falling fast.

Many bitcoin enthusiasts think that bitcoin is dying.

Well personally, I think this is hands down the best time to buy bitcoin.

Why?

Because of the major event called 'the halvening' which is happening next year.

You see, bitcoins are produced by a process called mining.

This is when your computer's CPU,GPU or both solve crazy difficult cryptographic problems.

And in return are rewarded with bitcoin.

And,every 4 years this reward is 'halved'

Hence the name 'the halvening'

So, what happens to miners when their rewards are halved?

Well, their profits fall,because they receive less than before.

And this makes some of them quit mining right?

Well,not exactly.

You see,so many miners don't really depend on the bitcoins given to them to live.

They are mining the cryptocurrency because they believe it has major future upside potentials.

So they keep on mining,because they're in it for the long term.

That's cool. So how does that affect us, the non miners?

Well,the price of bitcoin increases, and the number of bitcoins in circulation becomes lesser.

Bitcoin therefore becomes scarcer,even though it's value went higher.

This will lead to many people wanting bitcoin,but only a few having it and are willing to part with it.

This jacks the price up,because there would be scarcity of bitcoin.

And that benefits hodlers like you and me.

So why is it currently the best time to buy bitcoin?

Recall October,when bitcoin's price went up to $10k from $7k in less than an hour.

Well,the market trends to "correct" such moves.

That's why bitcoin's price is so low right now.

This is the perfect time to buy the cryptocurrency,because we may never see it's price so low again.

This is a prime time to accumulate as much as you would require to sit pretty when the halvening' occurs.(And maybe buy that yellow lambo😁)

The price of bitcoin would only go up in the following months.

Mark my words.

This is why it's the best time to buy bitcoin.

Please,if you find this post interesting, a donation would be encouraging. Kindly hit the button below the post to encourage my work. Thanks.

I also take bitcoin: 3JdKzLDTYa4zF3QaBa8VxDWwsYVtVBdVte

And Ethereum: 0xD11C13A2923CD9C2117F1dCcE664413f242d2A2E

Kindly remember that this is in no way,manner or form investment advice. DYOR!

Thanks for reading. Have a nice day!

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jordanjnr
jordanjnr

Hello! I am a Blockchain enthusiast,bitcoin investor,CEO of BigTycoon group and I love crypto! Hit me up @TycoontechBlog on twitter!


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