BITCOIN FOUND A SUPPORT? IS IT WORTH BUYING BITCOIN NOW?

2 years ago
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Bitcoin market: is it worth investing in cryptocurrencies now?
Digital currency is experiencing one of the biggest devaluation moments, being sold below US$ 20 thousand. Inflation is a drag on investors

Crypto Alert: Bitcoin (BTC) and Ethereum (ETH) Return to the Spotlight by Jumping 21% and 48% in 1 Week; is it time to buy?
Bitcoin and Ethereum encouraged investors by rehearsing a resumption move this week – cryptomarket analyst assesses the moment and cites 5 reasons to position

Is it time to get back to buying Bitcoin and Ethereum? The macroeconomic scenario is reluctant to say that
The truth is that, although cryptocurrencies may return to growth, at the moment they are at the mercy of the macroeconomic scenario, which has not yet improved. “We are renewing the peak of inflation and there is no prospect of improving the results of companies”, says Vinícius Bazan.

And the consequence of this is that investors are still reluctant to invest in risky assets. To give you an idea, global fund managers are more allocated in government bonds than in equities. Usually, the dynamic is just the opposite, more stocks than bonds.

However, Bazan states that this scenario can be read in two ways:

Nobody has an appetite for risk right now; or
This reaction has already been so exaggerated that this may be a good entry point, as it is unlikely to get much worse.
From the point of view of market analysts, cryptocurrencies may even advance in the short term, as is happening now, but it is still not possible to pin down that the bearish scenario is really over.

As such, Bitcoin and Ethereum would need a more significant improvement and medium-term price support to indicate that a lasting “turn of the hand” is underway in the crypto market.

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DISCLAIMER: I am not a financial advisor. The videos on my channel are for educational purposes only. I'm just showing you how I invest and day trade, but remember that investing of any kind involves risk. Your investments are solely your responsibility and not mine.

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