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Why You Should Buy Bitcoin During The Bear Market

2022-06-07 15:15:53
Why You Should Invest In Bitcoin Now
Over the years the cryptocurrency market has been known for its volatility, but imagine you bought $10 worth of bitcoin a decade ago, you should probably be worth millions in dollars by now. On May 22, the crypto community celebrated “Bitcoin Pizza Day”, which represented the first time a virtual currency was used to purchase goods. On May 22, 1010, Laszlo Hanyecz paid 10,000 bitcoins to purchase two pizzas, which would have been worth more than $300,000,000 as of the time of writing this article. So this was what birthed the first transaction made in cryptocurrency and since then the crypto community celebrates Bitcoin pizza day.

The world's number one cryptocurrency, bitcoin, has maintained its position since its inception and every other coin also known as altcoins just follows its lead. The Bitcoin price live is $31,573.55, and it has been up by 6.08% in the last 24-hours trading volume(Source: Gate.io exchange). Bitcoin and most of the altcoins started this week on a bullish trend at the time of writing. Gate.io is one of the top cryptocurrency exchanges where you can buy, sell, trade, stake, and stake cryptocurrencies. This exchange is very secure, fast, and reliable.

Buy Bitcoin Now Before The Next Bull Run

The financial market is known to have its ups and downs, which are the bull cycle and the bear cycle respectively. As a good trader or investor, you should know the best token to invest in when the price is down during the bear market, so you make good gains during the bear market. Also, doing proper market research is a non-negotiable factor when considering investing in a token. With market research, you can see tokens that are down during the bear market and always makes their holders rich during a bullish cycle.

Furthermore, when investing in cryptocurrencies, it is advisable that you invest what you can afford to lose, this is because of the volatility of cryptocurrencies. You can learn more about crypto investment on the Gate.io blog. Investing all your income in cryptocurrency is never an option also. Invest only a small percentage of your disposable income, never invest all your life savings in cryptocurrency. So if Bitcoin can rise from less than $1 to an all-time high of above $68,000 per BTC in less than 14 years, then it is worth considering investing in it.

However, bitcoin has lots of factors to make it to be one of the choicest tokens to invest in during a bearish cycle. The following are the reasons why you should invest in bitcoin during a bearish cycle:

1) It has a store of value: While bitcoin has performed very well over the years, some still believe that it is not a good store of value. The President of El Salvador believes that bitcoin can eradicate poverty in his country and that is why he has decided to adopt bitcoin for his country as a legal tender.

2) It has a limited supply: There is only 21 million bitcoin available globally, compared to fiat currency that the government can decide to print at any time, which makes the fiat currency lose its value.
3) Utility: Bitcoin is now accepted as a means of payment by different companies.

Because of all these reasons and more, so many traders and investors believe bitcoin is worth investing part of your disposable income. What will be the worth of bitcoin in the next five years?

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