Bitcoin has soared through 2021 with a bang, blasting to $40,000, setting a new all-time high, creating many opportunities for people to get in before the piece goes higher to 41, 42, or even 43.
But even at the current prices, bitcoin is still more than 50% over the all-time highs from 2017. With all that, people are always asking the question, Is it too late to buy Bitcoin? Is now a good time? Has the ship sailed, or is it currently a good time to be looking at getting a position or adding to your Bitcoin stack?
I do not think it is too late to buy Bitcoin; I doubt anyone should make that mistake because people that thought it was too late to buy Bitcoin when it hit $6,000 last year are low key regretting it.
In as much as Bitcoin hit $42,000, it is still not the end of it, and as the price dropped by 25%, people are still scared to purchase Bitcoin. Most people are currently scared to buy because of the current price drop. Now it is cheaper, nobody wants to buy it, but the fundamentals have not changed for the price retracement; it is only giving you the opportunity to purchase something fundamentally substantial at a discount. Bitcoin is not going to zero if you liked it at $42,000, you should like it at $32,000, but that is not what most people are doing.
The chart above shows the bitcoin four-year trend; as you can see, we're only about a third to halfway through this current bull market cycle.
Up to this point, the four hear cycle has generally proven to be accurate, so this is what we are watching for at the moment. There are a lot of opportunities going higher for the market.
This current market downtrend also is nothing extraordinary; it is nothing out of the ordinary. In the last bull run, there are corrections of 30% off more, so this current correction bottoms out at 31% under the recent high of $42,000. These are all standard stuff; these are good dip-buying opportunities.
When considering the current price and the market cycle, it is not too late to buy Bitcoin.
Asides from the current price, big investors agree that it is not too late to purchase Bitcoin. Big investors have been piling into the market like crazy ever since the pullback from $42,000. Mainly, they have been buying a lot, especially since Bitcoin passed its all-time high; many companies have been announcing that they have and will be purchasing Bitcoin.
