Should You Invest In Bitcoin Right Now?
As Bitcoin (CRYPTO: BTC) stays stuck around the $30,000 range, true believers and the patience of the "HODL" (crypto lingo for "hold") crowd is being stretched thin. Alas, the road to broad adoption is longer than the perma-bulls had promised, and macroeconomic factors may have slowed the process.
Still, I'll stand by my longtime practice of buying exciting assets when they're boring. If Bitcoin's not in the headlines during this long, hot summer, that's all the more reason to take a position in anticipation of upcoming catalysts.
Speaking of upcoming catalysts, the next Bitcoin halving event -- in which the rate at which miners will produce Bitcoin is reduced, thereby constraining new supply of the cryptocurrency -- is set to take place in less than a year. Past Bitcoin halving events have typically preceded price run-ups, but there doesn't seem to be much enthusiasm surrounding the anticipated 2024 event (at least, judging from social media activity and a review of recent financial press headlines).
Source Fool.com
