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Down 9% in the Past 5 Days, Is Now the Right Time to Buy Bitcoin?

TheMotleyFool

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Down 9% in the Past 5 Days, Is Now the Right Time to Buy Bitcoin?: https://g.foolcdn.com/editorial/images/744912/trader-pondering-at-screens.jpg

After Bitcoin (CRYPTO: BTC) crashed 65% in 2022, investors are surrounding it with a renewed sense of optimism. The price of the top cryptocurrency has soared 56% in 2023, almost double the gains of the Nasdaq Composite Index.

But as of Aug. 17, Bitcoin's price has dropped about 9% -- and even more at some points. Perhaps there's some bearish sentiment starting to take hold.

Should investors take advantage of the dip and buy Bitcoin right now? Or is it best to wait until there's more clarity about the near term? Let's take a closer look at the world's most valuable cryptocurrency.

Source Fool.com

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