Analyst Says Now is the Best Time to Buy Bitcoin ???

Brian Kelly, a hedge fund manager for criptomoedas and a contributor to a CNBC program, believes that now is the best time to invest in bitcoin, even after the biggest fix that has hit the entire crypto-coin market.
50% drop since its top

After reaching close to $ 20,000 in December 2017, the price of bitcoin has dropped about 50% to $ 9,000 and is now trading close to $ 11,000. With the exception of Ethereum, most of the major crypto-coins, such as Ripple and Bitcoin Cash, declined significantly by more than 50%.

While the bitcoin price has dropped substantially, Kelly said the market is undergoing a shift in the trend in volumes as they are shifting from the Asian market to US and European retail investors. Through bitcoin futures contracts and regulated exchanges, a growing number of institutional investors have begun investing in the crypto-currency market.

"Now, when everyone is saying ... it's over, that's it, bitcoin is dead, for the 175th time. Now is the time when you start looking at it on the buying side. The money is still coming in. The flows did not stop. This is not the end of bitcoin, "said Kelly.

Even though the cryptography market has evolved into a $ 550 billion industry, bitcoin remains the only crypto-currency with the support of institutional investors, financial institutions, and strictly regulated exchanges such as the Chicago Board Options Exchange (CBOE) and CME Group.

So while alternative crypto derivatives have become significantly more popular in the last six months, institutional investors who enter the market, invest in bitcoin first, before planning the diversification of their assets into other currencies.
Caution

Kelly emphasized that the crypto-currency market is a bull market and the vast majority of investors within it are highly optimistic and enthusiastic. But, he noted that investors should be able to deal with 20% to 30% of corrections, as major corrections are regular events in this market.

"These things can move 20 percent to 30 percent in a day," said Kelly, noting that a critical mistake industry investors often make is to sell very early. "Once there is a discharge, you hold this thing [even if it's 20-30%]."

As Litecoin creator Charlie Lee stated earlier, a bullish cycle is almost always followed by a bear market. Bitcoin and the major crypto-coins have had an incredible year in 2017 in terms of user growth, increased market valuation and conventional exposure. Throughout December and January, the market has experienced some of the biggest fixes in recent years.

However, as a bullish cycle is followed by a bullish market, a bullish cycle is also followed by a bullish market. As the crypto derivative market continues to recover from its recent corrections, bitcoin, being the market reserve asset, is likely to increase in value in the short term.

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