Here's Why I'm Buying Bitcoin Right Now
The past eight months have admittedly been a tough pill for Bitcoin (CRYPTO: BTC) investors to swallow. The world's most popular cryptocurrency is down 47% over that period and recently dropped below $70,000. Bitcoin ETF outflows are accelerating, and even Michael Saylor -- arguably the biggest Bitcoin bull on the planet -- has started to sell some of his Bitcoin.
Despite all that, I'm buying Bitcoin right now. I'm not expecting Bitcoin to recover immediately, but when it does -- as I think it inevitably will -- it's going to be a coiled spring ready to bounce higher.
In the crypto market, it's still "Bitcoin season." That means it's time to load up on Bitcoin and wait for the broader crypto market to recover. Later, once Bitcoin has ignited a broader crypto recovery, it becomes "altcoin season." That's the time to rotate into riskier altcoins.
Source Fool.com
