Why Invest in Crypto Now

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If you were going to invest in crypto, now might be the best time, especially considering the upcoming holidays. Of course, you’re thinking about what you’ll wear for Halloween, what gifts you’ll get friends on Christmas or where you’ll travel to for the New Year. Everyone else is thinking about those things as well, and they all require money.

How Crypto Booms During the Holidays

During holidays, people are in the festive spirit, giving more and, thereby, spending more. That money pours into the economy through various industries, such as retail and tourism, leading to an overall boost in the prices of many coins. Although this is not always the case, it happens.

To the contrary, As CoinCub.com wrote December 3, 2024, “Bitcoin has shown mixed performance in Decembers, with rallies in 2017 and 2020 and declines in 2014 and 2021.” However, Bitcoin went from about $95,946 on December 4, 2024 to over $106,180 by December 17, 2024.

Around October 19, 2024, Bitcoin was at about $68,437. So, between then and December 17, 2024, Bitcoin raised in price by over $37,743. That represents a percentage growth of over 35 percent. So, the potential for profit is there, contrary to what some analysts have believed in the past.

However, it is true that past performance is no guarantee of future performance. Either way, Bitcoin is down in price compared to its peak. Solana and Ethereum are as well. That’s good news.

Why Buying the Crypto Dip Works

Crypto prices fell sharply recently, scaring the seasoned and unseasoned investors alike, but that dip opened up opportunity. It is common knowledge to buy low and sell high in the stock market. The same applies in crypto.

In April of this year, Bitcoin and the cryptocurrency industry experienced a volatile decline in their prices. Those who bought at that time have gained 30 percent on their investments.

The market… is speaking.

Dips create opportunity, conflicting with the energy a downturn can bring. When someone is holding crypto and it dips, they’re losing money. Some will be more negative about the prospect of buying more. Their sentiment doesn’t represent the value of the coin. The market does, and it is speaking.

If you’re thinking about investing in crypto, read the article “The Best Crypto Coins to Buy.” It covers the hottest cryptocurrencies, along with some of the best affordable buys.

The Takeaway

Now is the best time to buy crypto. Currently, Bitcoin, Solana, Ethereum and other cryptocurrencies are down from their peaks. Solana and Bitcoin appear to be particularly good buys. Remember, buy low and sell high. You can make major profits buying the dip.

FOLLOW the author and educator Jermaine Reed, MFA on X @Jermaine Reed, MFA for his controversial but real hot takes.