Should You Buy Bitcoin While It's Below $18,000?
The Bitcoin (CRYPTO: BTC) cryptocurrency is a lot cheaper than it used to be. Bitcoin prices have stayed below $18,000 for more than a month at this point. Is this a good time to pick up Bitcoins on the cheap?
Once upon a time, about 13 months ago, Bitcoin's price reached $68,790. The cryptocurrency had more than quadrupled in value in 12 short months. The sky was the limit. The crypto market as a whole was worth more than $3 trillion. Six-figure prices seemed to be coming up shortly. Life was good for cryptocurrency holders.
But the market took a different turn at that point, and Nov. 10, 2021, turned out to be the summit of that particular Bitcoin bull market. The omicron variant of COVID-19 was about to turn the economy upside down again. Raging inflation was next on the menu, alongside the Russian attack on Ukraine and a global disruption of long-distance shipping services.
Source Fool.com
