Ever since digital currencies became popular, cryptocurrency has been an attractive investment option. People are more interested in investing in Bitcoins than any other commodity. But what about the newbies who are enthusiastic about the crypto market but do not have the right knowledge and experience to invest in this currency? Well, according to Jehan Chu, the founder of Kenetic Capital, this is the right time to invest in Bitcoins. The price is relatively low these days with the range hovering between $5,500 and $6,000.
The best entry point
Many investors will say that buying at $5500 will be a risk or it would not yield a high-profit margin. But according to the statistics revealed by Kenetic Capital, the investment portfolio of hundreds of investors in this market has recorded a 77% year-to-date returns against the high bearish market.
The Chu is also of the opinion that if you are new to the cryptocurrency sector, it will be best to work with popular crypto brokers like Qprofit System, which relies on Big Data and live analytics to help traders execute wiser trading decisions. This eliminates the guessing game because when you first enter the crypto market, you will feel as if you are a drop of water in a vast ocean.
The Chu has lucidly explained why a $5,500 entry point should not be considered an alarming decision. When he started investing in Bitcoins, the initial price was $900. This was way back in 2013 and the price continued to drop till it reached $200.
He bought Bitcoins for $200 too knowing that the market could go down. However, the acceptance of cryptocurrency on a global level made it possible for the entire market to go up gradually. On the other hand, the Bitcoin market went up to as much as $18,000 to $19,000 at one point. So, if someone is investing at the $5,500 mark, it shouldn’t be considered a bad decision because most of the experts believe that the market will go up again.
The Bitcoin turnaround
The last couple of years saw a stagnant market for Bitcoins where the price didn’t really reflect the popularity that it was gaining all over the world. Experts believe that there will be a significant turnaround for the indicative prices of all the major assets and also for blockchain spaces and this includes Bitcoin and Ethereum, too.
The Chu says that there will be a major rise in the introduction of blue-chip brands in the coming years and that will be the turning point when the Bitcoin will be revived all over again.
What’s more interesting is that companies are ready to start their own blue-chip brand even after observing the stagnant market of blockchain spaces and Bitcoins. Even the economic advisor at Allianz, Mohamed El-Erian believes that the entry point at $5,500 is a very fruitful idea. He also added that even though it will take years for Bitcoin to reach that record $20,000 mark, it will never go as low as $500 or $200 like it did a few years ago.