Experts proclaim now is the best time to invest in Bitcoins
Jan 27, 2018 Posted / 1402 Views
You may be worrying about the price of Bitcoins falling down and if you are one of those who thought about buying in last months of 2017 as the currency was rallying high, it is the right time for you. Many bitcoin experts are popularising the dips saying that now is the right time to buy. This campaign has already taken off and you will find people publicizing the fact. Even Brian Kelly founder of BK Capital Management has recommended that market watchers should invest in bitcoin now that prices are down. He stated his experience about cryptocurrencies in an interview to CNBC on Jan 23.
"Now, when everyone is saying ... it's over, that's it, bitcoin is dead, for the 175th time. Now's the time you start looking at it, on the buy side," Kelly, portfolio manager of the BKCM Digital Asset Fund, told CNBC on Tuesday.
The drama had been big in last weeks as digital currencies faced a shudder from South Korea and China over their regulatory bans. The analysts suggest that right now the digital currency is in a "hand-off" period, journeying from retail Asian investors to U.S., European and Japanese institutional investors. as Kelly points out
"And that money is still coming in," Through this statement, he means that despite everything the "The flows have not stopped."
Many analysts are saying that no investor should worry about the fact that bitcoin will dissolve in the air or this is the end of the bitcoin mania. Th experts emphasise that those are popularizing this fact are simply the central minded critics.
"This is not the end of bitcoin," Kelly said, cautioning investors that purchasing the greatly volatile asset when prices are soaring can be deadly.
"When we talk about bitcoin being up at $20,000, everyone is running around being all excited," he said. "Those are the times to be a little cautious."
The enthusiasts say that Bitcoin prices staggering between $10,000 and $11,000 since the last week is a sign that currency this is lurking in a healthy ecosystem. The prices have not recovered since there were was a 45 percent dip in the value. The December high saw currency floating at more than $20,000 and dip to $10,000 had critics calling it a sign for the bubble burst. Kelly in his interview with CNBC said the dropping prices were "incredibly healthy for the ecosystem. You shake out the weak hands. You get strong hands in there."
In fact, he gave three golden rules for crypto investors for future references and for present investments. He said that first all you should only risk 1% to 5% of assets which means the prices will fluctuate which means the potential is also large and exponential, and so is the loss. "This is a new technology," said Kelly. "Things break. This is the internet in 1995." If the investment doesn't work out, losses can quickly be assimilated, Kelly pointed out.
Second, he says that the investors should not sell really soon. Kelly advised continuing on to the currency, even if it gains 20 percent or 30 percent. "Once there's momentum, you hold onto this thing," he said. And lastly, he says that the investors should not panic even when the coin drops as low as 50 percent. as him and other experts have suggested a time and again that the digital currency has the volatile nature and "These things can move 20 percent to 30 percent in a day," he said.
Applancer is an open platform for discussion on all things like Blockchain , Cryptocurrency and Ico news updates. As such, the opinions expressed in this article are the author's own and do not necessarily reflect the view of Applancer .
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