It looks like Kraken has yet another crypto giveaway for new users of the platform. If you haven't grown familiar with Kraken yet, it's the equivalent of Coinbase or Gemini crypto apps that require KYC and let you trade lots of tokens.

This month Kraken invites new users to trade $200 and potentially get up to $300 in crypto. Once again, here's the step by step to participate:

1. Join Kraken via this referral link: https://invite.kraken.com/JDNW/dl21vjzj

2. Trade $200 worth of crypto

3. Look for the confirmation email from Kraken regarding completing the requirements

4. Every bonus is a surprise - randomly assigned with values up to $300.

That's it. 

Is it a good time to get into Bitcoin?

Now as far as Bitcoin, the market at large, is now a really good time to enter into crypto?

The market is currently in a brutal downturn, marked by sharp price declines. Bitcoin, for instance, has fallen significantly to a low 60k range. We haven't seen these lows since 2024! For some, this smells like opportunity if they were feeling FOMO at 120k BTC. Half off, after all!

We won't sugarcoat it, though. Several macroeconomic issues are contributing to the market condition. 

Just to illustrate how brutal of a downturn it is, consider: 

• This grim market sentiment is even affecting the Ethereum Foundation. That's a remarkable development given Ethereum's historical role as a stronghold of stability in the crypto space. 
• The New War in the Middle East - Geopolitical tensions and rising costs of living have made consumers hesitant, pushing speculative investments like crypto far from their minds.
• The Silicon-Valley/White House Driven AI Hype - Furthermore, "hot money" has rotated away from digital assets toward other opportunities, such as AI stocks and hot IPOs.

Despite the bearish market, adoption continues to creep forward; about 25% of US population is a crypto user.  This suggests that crypto, in whatever form it ultimately solidifies, may become a mainstay of marketplaces and businesses. A key development in this trend is PayPal's PYUSD stablecoin, which is expanding to 70 markets.

(Editorial "Hot Take" Sidebar: By association to key figures in the AI hypercycle of media, such as Musk and Ellison, we deem PayPal's entry into crypto a solid green signal for consumers to dip their toes into the crypto realm. What we've learned historically is that even if a company is bankrupt (such as Tesla or IBM) it will be propped up by the government wheelhouse of tricks; cooking and washing is their specialty when it comes to shareholder documents. The same can be said of Strategy, which now is more in the red than any US stock probably EVER.)

Ultimately, whether now is a good time to enter the market depends on your feelings about the market: are we at the lowest low or can we go lower? Or perhaps, you may think to yourself, we are near the bottom after a few more dips?

Rather than attempting to time the volatile market through manual trading, our approach has been a "participate only" philosophy. Nothing fancy here. And we do that through DCA, or Dollar-Cost-Averaging.

DCA allows you to buy small amounts of Bitcoin over time, similar to a savings plan. Market price is used for the sale price, so you are participating in the crypto market, accumulating at different price ranges.  

You can learn about why we think DCA is the modern version of savings here: Bitcoin vs the US Dollar: How Government Turmoil Quietly Erodes Your Savings 

• Dollar-Cost Averaging, or DCA is a no-brainer. Set aside a fixed dollar amount and purchase Bitcoin at automated regular intervals, say $50 month or week, regardless of the price. This smooths out volatility and removes the emotional stress of trying to buy at the absolute bottom.
• Instead of a user's purchasing power gradually eroding, one systematically accumulates the scarce increments of the now dwindling supply of Bitcoin (if you heard 21 million is the supply of BTC, be aware that in reality, a large amount, something like 3% is already locked up forever, stolen or lost). That's less Bitcoin for the world, and more value per Bitcoin in pools.

If you liked this article and have your own thoughts on the Bitcoin price, let us know below. 

Use our affiliate code to get up to $300 sign up bonus with a qualifying purchase of crypto:

Use the referral link: https://invite.kraken.com/JDNW/dl21vjzj

During account registration in the “Invite Code” field to qualify your purchase of crypto.