Bitcoin: Is now the right time for you to try it out?

Over the last few years, Bitcoin has become the face of cryptocurrencies even for people who don't know very much about crypto. So, when Saylor says that Bitcoin is the American Dream, it raises the question of whether that dream will stay a dream or become a reality at some point.

Using Bitcoin now would be a bad idea

In an interview with Bloomberg, Saylor talked more about how Bitcoin and real estate properties are similar. As a matter of fact, he also talked about how it is better for investment than gold. Then he said:

If your property isn't safe outside of your country, and it's not safe inside your country, where can you go to get it? There is a place called cyberspace where you can find the answer. Bitcoin is the dream of the United States of America.

This dream isn't just limited to this one statement. Investors once dreamed of the king coin hitting $100k, which led to a surge in the use of cryptos at the end of 2021. If you look at the PlanB model, you'll see that it first put the price of Bitcoin at $135k by the end of December. Then, it cut that down to $100,000.

However, Plan B's prediction did not come true. As a matter of fact, some people think this pushed the chances of the same thing happening by about two years.

At the same time, the one thing that always stands in the way is volatility. After three months, it's even more important that cryptocurrency has been moving under the same resistance and support levels for a long time now.

bitcoin price action

There may also be a shift to Bitcoin as a way to protect against inflation, but this could happen quickly. It only works if the rise in correlation between Bitcoin and the stock market slows down

The "Global Dream" is a phrase that means "to dream big."

The best time to get in and make money with your money is now. Investors are looking for the best time to get in and make money. In fact, some signals suggest that now might be the best time to do just that.

Reserve Risk hasn't been in this good of a spot in a year. It's at a level where investors have a lot of confidence and the returns look good. Bitcoin first came into this area in January, and it has been there ever since.

Bitcoin Reserve Risk
Source: Glassnode

This is the right time because, after going into the red again, the P/L ratio shows coins are back in profit.

With this indicator, it looks like it won't be long before Bitcoin doesn't fall back down into losses again.

Bitcoin Profit/Loss ratio
Bitcoin Profit/Loss ratio

This would make more investors want to use Bitcoin. There's a chance that this "American dream" could soon become a "Global dream," as well.

** Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of USA GAG nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

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