Is it too late to buy Bitcoin after a decrease to under 20K?

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Bitcoin BTC/USD is one of the largest cryptocurrencies in terms of market capitalization.

Due to its market dominance and mainstream appeal, it has found its way into many products and services in the form of an accepted payment option.

Cryptocurrency cards exist today that allow users to pay with crypto in millions of terminals, and they can even withdraw Bitcoin in the form of USD or other cryptocurrencies at Bitcoin ATMs.

It is clear that Bitcoin has a strong level of dominance and appeal in the crypto space, yet it decreased under the $20,000 price point.

This has led many to wonder, is the cryptocurrency worth getting at its current price point?

PicPay to add support for Bitcoin and more banks start offering bitcoin and crypto exposure

The largest digital payments application in Brazil, PicPay, will enable over 65 million users access to purchase Bitcoin (BTC) on their platform.

PicPay aims to enable the use of Bitcoin as a payment and not just as a form of investment. 

Through an interview conducted by Real Vision, Bitwise Asset Management CEO Hunter Horsley said that there are seven private banks and broker-dealers that have put cryptocurrency offerings on their platforms for their advisors and clients to gain access to the space.

Furthermore, these banks and broker-dealers represent $2 trillion in assets, as well as tens of thousands of advisors and millions of accounts.

As a result of this, it is clear that interest and adoption of Bitcoin (BTC) on a global scale are still extremely strong.

Should you buy Bitcoin (BTC)?

On July 13, 2022, Bitcoin (BTC) had a value of $19,837.62.

btc usd 18

To truly see what this value point represents for the coin’s future, we will go over its all-time high value, as well as its performance in June.

When we look at the all-time high point of value, Bitcoin (BTC) had its ATH on November 10, 2021, when the coin reached a value of $69,044.77.

Going over the performance of the token throughout the previous month, Bitcoin (BTC) had its highest point of value on June 1 at $31,950.98.

However, its lowest point was on June 18 at $17,744.9. This marked a decrease in value of  $14,206.08, or by 44%.

However, when we go over its price change from June 18 to July 13, we can see an increase of $2,092.72. Or by 12%.

What this means is that even despite the recent decrease to under $20,000, the cryptocurrency is still higher in value than its lowest point throughout the previous month. 

With this in mind, it is not too late to buy Bitcoin (BTC), as it can climb back up in value to $22,000 by the end of July 2022.

The post Is it too late to buy Bitcoin after a decrease to under 20K? appeared first on Invezz.

from Market Analysis – Invezz

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