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Bitcoin Price Breaks 1459 USD, Is It too Late to Buy Bitcoin Now?

bitcoin priceThe price of Bitcoin hit an eight-year high Monday, surpassing 1,459 USD or 10,060 CNY.

As bitcoin price is rising to levels unseen before, some experts predict that one will be able to buy a house in Beijing with one Bitcoin in 10 years. My colleagues (mostly girls) checked their bank accounts wondering how many Bitcoins they could afford. A girl said:“if I buy 0.01 Bitcoin now, it will be worth a BMW ten years later.”  Another girl screamed:

No bitcoin, no future!Girls, let’s borrow money and invest in Bitcoin.”

See how crazy girls could be?

As a sensible person,(or killjoy as they say) I took a calculator and started to do some serious math problem. Housing price in Beijing goes from 30,000 yuan per square meter to 120,000 yuan/square meter. Suppose you buy a house of 50 square meters at the lowest price, about 30,000 yuan per square meter, that’s 1.5 million yuan. Bitcoin price tops 1.5 million yuan(220,500 USD) in 10 years? I don’t think any usable currency can ever reach that kind of amount. It’s good to have a dream, but what if it never comes true?housing priceJust like all investment opportunities, there are contradictions with Bitcoin. The PBOC has been working to regulate Bitcoin exchanges. Li Lihui, former president of the Bank of China believes that Bitcoin is not even a currency. The Hong Kong-based economist Lang Xianping says Bitcoin is just a Ponzi scheme. Its price is strongly influenced by public attention. Put simply, more Bitcoin users, higher Bitcoin price.

Some dot.com entrepreneurs, however, believe that Bitcoin is the money of future. Chang Jia, a sci-fi writer and founder of 8btc, claims that Bitcoin has redefined the concept of money and it will ultimately disrupt the current monetary system. Zhang Jian, Huobi’s former VP of Technology, notes that Bitcoin is the most successful digital currency to date. Venture capitalist Tim Draper sees big future in Bitcoin and once auctioned 30000 Bitcoins.

Maybe you feel we should follow those successful talents and seek opportunities in the world of Bitcoin. But the point is that even if these people failed in Bitcoin, they could always find a way to flex their muscles in other areas. Are you capable to do the same? Can you afford to lose?

Instead of asking should you invest in Bitcoin, why not ask yourself what do you know about Bitcoin? It’s really ironical that many claim they know everything about Bitcoin and if you ask them what is Bitcoin, they would tell you Bitcoin is “a completely anonymous and secure digital currency”. The truth is that Bitcoin is not anonymous, it’s pseudonymous. If you learn Bitcoin, please learn it for good.

When you spend great time and effort studying Bitcoin, there might be three possible outcomes.

One is that you feel Bitcoin can help you get rich and you decide to invest in it. And then there is so much more for you to learn. To name a few, how to buy Bitcoin? how to store it? what’s the difference between a hot wallet and a cold wallet? Most importantly, never forget your wallet password. Never!

Two is that you might begin to think what matters is not the price but the real significance of Bitcoin. You will buy Bitcoin in order to be part of a revolution and help change the world for better. You could even mine Bitcoins yourself to support and help secure the network.

For years, Bitcoin enthusiasts believe that Bitcoin will soon become a mainstream currency. But the hard fact is that Bitcoin is not as widely accepted as you have imagined. Last week, a friend of mine (we haven’t seen each other after graduated in 2016) asked me what I’ve been up to, and I told her something about Bitcoin. She shouted:

“OMG, Cindy, Don’t you know that is illegal!”

That’s embarrassing, but I believe a great deal of people think Bitcoin is illegal.

Another possible result is that you don’t see Bitcoin is a good investment anymore.

First, wild fluctuation. One could buy Bitcoin at the price of 8000 yuan last Monday and find its price drop to 6000 yuan today. Seriously, among all the surprises Bitcoin can provide you, one of which is a heart attack. You may spend sleepless nights fearing a Bitcoin crash.

Second, uncertainty. I guess you would agree that the future of Bitcoin in China is largely determined by the Chinese government instead of adopters. The decentralized nature of Bitcoin and difficulty to regulate make it problematic in the eyes of government entities. Right now, no one is sure what will be the next move of the government as Bitcoin price reaches over 10,000 yuan.

Third, negative media coverage. Bitcoin has many negative connotations, as it is often associated with illicit markets, tax evasion, money laundering and theft. If so, why not stay away from this complicated community?

Anyway, everyone can try to use Bitcoin, but first you should learn enough about it and then you decide whether you should invest in Bitcoin or not. Remember, big fishes eat smaller ones.

May God bless you!

COMMENTS(42)

  • crocozino
    8 months ago crocozino

    I thought that its too late when the price was 1000$, and look now you never know with Bitcoin

  • BitcoinHodler
    8 months ago BitcoinHodler

    i have only got two things to say, more like advice. take it or leave it (whoever reads this):1. people have always been saying the same thing. price goes from x to x + y then they start asking is it too late to invest in bitcoin. then price goes from z to z – y then they start thinking bitcoin is dead. these people will always hodl their fiat until the day they die.2. don’t invest more than you can afford to lose. it is stupid to take a loan just to invest in bitcoin! specially for regular people with no years of trading experience. you have a salary that after expenses you are left with 20 bucks and don’t want to do anything with that 20 bucks then invest that in bitcoin

  • snipie
    8 months ago snipie

    Quote from: crocozino on May 03, 2017, 10:35:31 AM
    I thought that its too late when the price was 1000$, and look now you never know with Bitcoin

    Best answer  I saw people several times asking if it’s too late to buy and start crying when the price crushed after they bought some coins then it comes the rise and everyone is enjoying the epic profit The only exception is people selling when the price crushed, they will cry forever 

  • JakaE
    8 months ago JakaE

    I’d say go for it.Yeah, the price might drop below what you paid for it for a week or even a month, but as long as you don’t panic sell, the price will recover and you’ll be fine.So, go for it, maybe keep a little fiat on the side to buy the dips (that might never come).

  • mike4001
    8 months ago mike4001

    Over the last years we had several ATHs.This means that if you didn’t sell any Coins every person on this earth made profit with their BTC and will probably continue to do so 😉

  • FlamingFingers
    8 months ago FlamingFingers

    Well. I advise you to advise them not to buy Bitcoin, at the moment, for three reasons:1- They don’t know anything about Bitcoin — making an investment without any information is always a bad idea —, they would panic any moment the price dumps a little.2- I think $1400 is a bit late to invest in – once SEC rejects Bitcoin ETF again (I don’t think of any reason they would agree/approve it), the price will dump as usual.3- If they think the price of Bitcoin is pumping everyday, like what it has been doing recently, it’s really not a good idea for them to be involved in this digital world, yet. They need to understand that Bitcoin fluctuates all the time – it’s not Gold.

  • Denker
    8 months ago Denker

    Quote from: FlamingFingers on May 03, 2017, 12:15:40 PM
    Well. I advise you to advise them not to buy Bitcoin, at the moment, for three reasons:1- They don’t know anything about Bitcoin — making an investment without any information is always a bad idea —, they would panic any moment the price dumps a little.2- I think $1400 is a bit late to invest in – once SEC rejects Bitcoin ETF again (I don’t think of any reason they would agree/approve it), the price will dump as usual.3- If they think the price of Bitcoin is pumping everyday, like what it has been doing recently, it’s really not a good idea for them to be involved in this digital world, yet. They need to understand that Bitcoin fluctuates all the time – it’s not Gold.

    Nobody expects anything from this ETF review! 99% here know that it will get reject again. So no big down movements in the market can be expected. And if it did, it will be a very short dip, bought by the smart ones as they know nothing serious will happen.

  • mikenz
    8 months ago mikenz

    If you listen to the experts in this forum, it was definitely too late at 5$, 10$, 100$, 200$ and 500$ already. So muuuuch to late for you  See everybody around you and the people in the streets, everybody and his mum is using bitcoin, so its mainstream and there is no growth potential anymore!Quote
    Nobody expects anything from this ETF review!
    genau.

  • Vaskiy
    8 months ago Vaskiy

    Right now it’s not that late to invest on bitcoin, though we have missed the days of lower price. By the days of etf a strong expectation of approval has been found. Now this time though an approval on etf is expected to happen this month users doesn’t concern much, because the price is on the pump even without any special events occurring.

  • RoommateAgreement
    8 months ago RoommateAgreement

    it is never too late to invest in bitcoin and history has proven that already multiple times. even when price goes down it always comes back up because (in case you have forgotten) there is still the same very limited amount of bitcoin available and that is not going to change and if anything it will even go down because of all the coins that are lost.

  • X-ray
    8 months ago X-ray

    Quote from: Doofus on May 03, 2017, 10:31:55 AM
    BTC price hits an eight-year high,http://news.8btc.com/bitcoin-price-breaks-1459-usd-is-it-too-late-to-buy-bitcoin-nowSome girls at office are wondering if they should invest in bitcoin right now. Some even want to borrow money to buy bitcoins, i don’t know what to say coz i think they don’t get the real significance of btc. but it is full of uncertainties in the world of bitcoin. girls could be dreamy, buy what if it is really a great chance. Anyway,i can only tell them big fishes eat smaller ones, so be careful.
    If you believe in truth if there will be another potential for the price of bitcoin over $2000 and this is not too late to buy or grab some bitcoin to be your investment. But be careful to make more analyzation if this is not another bubble for bitcoin itself. Or it can become another big loss caused the bubble will pop asap.

  • oblomov
    8 months ago oblomov

    Quote from: Doofus on May 03, 2017, 10:31:55 AM
    BTC price hits an eight-year high,http://news.8btc.com/bitcoin-price-breaks-1459-usd-is-it-too-late-to-buy-bitcoin-nowSome girls at office are wondering if they should invest in bitcoin right now. Some even want to borrow money to buy bitcoins, i don’t know what to say coz i think they don’t get the real significance of btc. but it is full of uncertainties in the world of bitcoin. girls could be dreamy, buy what if it is really a great chance. Anyway,i can only tell them big fishes eat smaller ones, so be careful.

    No, I thought I was overpaying at $300/BTC.We are just beginning to see the acceleration of adoption by the professional investment community.

  • Gloober
    8 months ago Gloober

    This really just depends on what your intentions are with Bitcoin. If you’re looking for a quick buy low sell high kind of thing, I think it’s too late for that. If you’re talking about long term, that’s something else. I don’t think it’s ever too late to invest into Bitcoin if you’re thinking about sitting on Bitcoin for a long time. I’d say buy whenever you can and sell whenever you think you’ve made enough profit.

  • Lucius
    8 months ago Lucius

    Quote from: Doofus on May 03, 2017, 10:31:55 AM
    BTC price hits an eight-year high,http://news.8btc.com/bitcoin-price-breaks-1459-usd-is-it-too-late-to-buy-bitcoin-nowSome girls at office are wondering if they should invest in bitcoin right now. Some even want to borrow money to buy bitcoins, i don’t know what to say coz i think they don’t get the real significance of btc. but it is full of uncertainties in the world of bitcoin. girls could be dreamy, buy what if it is really a great chance. Anyway,i can only tell them big fishes eat smaller ones, so be careful.

    Many times it has been repeated on this forum that everything under 1000$ is cheap BTC,but even with this price which is around 1500$ now I think it is good to invest some money in BTC.But this should be money which you are ready to lose at any time because BTC is very volatile asset.We can only speculate about future and hope price will only go up from now, but we always need to be careful and do not put everything in the same basket.And if you decide to invest make sure for safety of your coins,use desktop/hardware wallets and make backups of private keys/seeds/dat files.

  • Sniper44
    8 months ago Sniper44

    Quote from: Lucius on May 03, 2017, 03:11:23 PM

    Quote from: Doofus on May 03, 2017, 10:31:55 AM
    BTC price hits an eight-year high,http://news.8btc.com/bitcoin-price-breaks-1459-usd-is-it-too-late-to-buy-bitcoin-nowSome girls at office are wondering if they should invest in bitcoin right now. Some even want to borrow money to buy bitcoins, i don’t know what to say coz i think they don’t get the real significance of btc. but it is full of uncertainties in the world of bitcoin. girls could be dreamy, buy what if it is really a great chance. Anyway,i can only tell them big fishes eat smaller ones, so be careful.

    Many times it has been repeated on this forum that everything under 1000$ is cheap BTC,but even with this price which is around 1500$ now I think it is good to invest some money in BTC.But this should be money which you are ready to lose at any time because BTC is very volatile asset.We can only speculate about future and hope price will only go up from now, but we always need to be careful and do not put everything in the same basket.And if you decide to invest make sure for safety of your coins,use desktop/hardware wallets and make backups of private keys/seeds/dat files.

    different times, different answers.yeah a couple of months ago, when price was entering $1100-$1200 range then the dip to $1000 mean very cheap coins to buy as fast as possible, right now the same is true about $1200 (the previous high). but this is all about those who are trading or want a short term investment. otherwise we have been seeing a constant rise from bitcoin each year and it will continue because we are very far from the price that we can call it is enough rise.

  • ArdiPrabowo
    8 months ago ArdiPrabowo

    I think is never late to invest and buy bitcoinif someday bitcoin price down you can still use bitcoin to altcoin trading

  • Ayers
    8 months ago Ayers

    never too late if you account the big potential that bitcoin hold for the future, when you think about $2000, $3000 or more you see this current value as nothing but as initial take off for the upcoming bubble, if you don’t have the money buy a low amount of bitcoin and hold that amount, in the future you will regret not buying more

  • pealr12
    8 months ago pealr12

    It is not too late to invest in bitcoin even its price is so high at this time because bitcoin price was predicted to reached 2000$ by the end of this year.so you can still have big profit even if you start investing in bitcoin this month.

  • bitcoindusts
    8 months ago bitcoindusts

    The only measurement if it is too late or not is not the price but rather the saturation level of the market.  Since Bitcoin still have low saturation level with regards to world population adoption, I believe it is still too early to invest in Bitcoin.  So if you are planning to invest, do not hesitate, hesitation may cause you more USD in buying Bitcoin.

  • richardsNY
    8 months ago richardsNY

    It’s not really too late. However, it all depends on people having some coins already or not. In case they have — it’s good to keep holding them, and to not buy anything more. If you don’t have any coins — then it’s advisable to just use 25% of your investment capital to buy Bitcoin with. If the price happens to go down not long after that, you’ll have enough funds left to benefit from the lower price. Common sense stuff….

  • peter0425
    8 months ago peter0425

    As long as you have money to invest to bitcoin, then its not too late I guess. Just allocated like 10-20% if you can as investment into it and it will be a good investment for sure. And the price of bitcoin is really looking good so its really nice to have a least investment here and there. Because we may never know that it will touching this price right now. So imagine end of the year price of bitcoin. So its never too late for everyone to have an investment in bitcoin.

  • Przemax
    8 months ago Przemax

    The financial advisement always depends on your risk tolerance level. If your risk tolerance is high then you could go for it hoping to get out of the crazy train in the right moment. I have noticed that before and after some big news of some exchange or other bitcoin buisness is failing there comes the bubble to the rescue. So you might even double your funds if you have a luck. You can call me a bear or what ever. But the price action that was lately just screams for a bigger correction. I just feel it that way. There is no bigger analysis in this. My brain tells me there could be a “rescue bubble” brewing and my feeling telling me “I have a bad feelings about this”.

  • the_poet
    8 months ago the_poet

    Never too late, especially if you’re in for the long haul. Bitcoin isn’t going anywhere but up.

  • DustyRah
    8 months ago DustyRah

    Its too late since it may go down at any time. You may want to wait to catch it at around $1000 mark.

  • VictorXLR
    8 months ago VictorXLR

    I will forever regret not buying Bitcoin when they were worth cents

  • Doofus
    8 months ago Doofus

    BTC price hits an eight-year high, some girls at office are wondering if they should invest in bitcoin right now. Some even want to borrow money to buy bitcoins, i don’t know what to say coz i think they don’t get the real significance of btc. but it is full of uncertainties in the world of bitcoin. girls could be dreamy, buy what if it is really a great chance. Anyway,i can only tell them big fishes eat smaller ones, so be careful.http://news.8btc.com/bitcoin-price-breaks-1459-usd-is-it-too-late-to-buy-bitcoin-now

  • Paya
    8 months ago Paya

    It’s never too late to invest in bitcoin, but my humble advice would be – don’t hope for big short term profit, you should be prepared for long ride and also ready to ignore occasional dramatic crashes and periods of stagnation. Bitcoin has bright future, but you have to be calm and patient with it.Also, don’t borrow money because whoever gives you a loan, chances are that he would probably expect return sooner than you see some real profit from bitcoin.

  • gentlemand
    8 months ago gentlemand

    I wouldn’t be bothering with BTC until Bitfinex is dead or resolved. There’s too much murkiness in this rise. Anything above $1150-1200 might purely be because of this. And why would anyone consider buying BTC when it’s at an ATH? Don’t be a sheep. I don’t think this is anywhere near being a full on peak, but equally there’s no compelling reason for it to be this high either right now. If someone wants in, spread the buys over a period of weeks or months. Imagine if you’d gone all in at the 2013 ATH versus buying steadily over six months. You would’ve wound up with far more coins with the same outlay. No one can predict anything, but they can do a little hedging. Long term it’s still looking good. Short term there’s plenty of potential for tits to go up. And perhaps anyone considering taking out loans should be encouraged to do so, because by the sounds of it a horribly painful lesson like that is the only way such morons will ever learn.

  • DoomDumas
    8 months ago DoomDumas

    under 5k U$ I still a buyer !

  • Doofus
    8 months ago Doofus

    Quote from: the_poet on May 03, 2017, 06:37:56 PM
    Never too late, especially if you’re in for the long haul. Bitcoin isn’t going anywhere but up.
    so do you think we should have some investment basics first before we invest or should we buy some bitcoins first and learn later.

  • Doofus
    8 months ago Doofus

    Quote from: the_poet on May 03, 2017, 06:37:56 PM
    Never too late, especially if you’re in for the long haul. Bitcoin isn’t going anywhere but up.
    so if ETH is rejected again, will the price crash?

  • Paashaas
    8 months ago Paashaas

    It’s never to late to invest, the longer you wait the higher the price.Bitcoin’s price potential is enormous.

  • gerrards08
    8 months ago gerrards08

    not yet, the price of bitcoin is still low. We will reach the next stage is $2000. There was no word late to invest in bitcoin

  • snipie
    8 months ago snipie

    BTC price break 1459 1535 USD, is it too late to invest in Bitcoin?With bitcoin it is never too late 

  • Chris!
    8 months ago Chris!

    You aren’t too late if you just dollar cost average this whole time. That’s what I’ve done and on average I’ve paid a lot less than the $2060CAD that it currently costs to buy 1 full bitcoin. (or $1500USD I’m assuming, don’t really care about USD though). Also always remember to diversify your investments to mitigate any risks you may have within your portfolio. Bitcoin is obviously a decentralized technology, so invest in something not even remotely close to a decentralized technology. Have you looked at wheat stock lately? Me either. Maybe it’s a good time to look though.

  • hase0278
    8 months ago hase0278

    Quote from: Doofus on Today at 01:34:16 AM

    Quote from: the_poet on May 03, 2017, 06:37:56 PM
    Never too late, especially if you’re in for the long haul. Bitcoin isn’t going anywhere but up.
    so do you think we should have some investment basics first before we invest or should we buy some bitcoins first and learn later.
    It really depends to you since in bitcoin no one can now certainly if it is too late or is it a right time to invest in bitcoin so I suggest that if you want to go for it don’t go all in just buy using a percent of your total capital to buy bitcoin just in case price drops. If not then try to short trade it and rebuy back when price is low again. That way your office mates won’t regret buying bitcoin when price go up and your office mates won’t also regret that they have not go all in when price dumped but it is still better to buy cheaper bitcoins.

  • rajasumi3
    8 months ago rajasumi3

    its never late to invest in bitcoins.You might think that the price of bitcoins would go up,but let me tell even if the price of bitcoins is down due to other external factors,but the price of bitcoins would continue to rise to reach the moon in the next month.

  • icecube45
    8 months ago icecube45

    Quote from: Paashaas on Today at 02:22:16 AM
    It’s never to late to invest, the longer you wait the higher the price.Bitcoin’s price potential is enormous.
    Yups, that’s right. It will never be too late to start investing in bitcoin. As you say the longer you wait the price will get higher. Do buy + hold then buy again and do it long term (more than 5 years). I’m sure the profits will be big. Although bitcoin prices are now high but in the future bitcoin prices will be higher because the bitcoin gradually begins to grow.

  • bering
    8 months ago bering

    the price has climbing so fast and majority exchange already reach to $1500 above but short term invest would be good i thinkbecause i fear the price would not last long and back to dropped

  • xIIImaL
    7 months ago xIIImaL

    Quote from: bering on Today at 09:24:58 AM
    the price has climbing so fast and majority exchange already reach to $1500 above but short term invest would be good i thinkbecause i fear the price would not last long and back to dropped

    Yeah localbitcoins traders rate for buying bitcoins from the people is higher than the Google rate after May 1st. I think price gonna move to touch the unpredictable peak amount in near future.Apart from trading none of the invest will not provide the big profit to us. Therefore, we can start trading in yobit, polenix, coinbase or localbitcoins. If we have enough amount with us.

  • shinratensei_
    6 months ago shinratensei_

    Quote from: snipie on Today at 12:57:25 AM
    BTC price break 1459 1535 USD, is it too late to invest in Bitcoin?With bitcoin it is never too late
    But the investors must believe if the price of bitcoin will touch $2000 to get a decent profit from his investment through bitcoin. The japan adoption makes it come true for us. Quote from: Doofus on Today at 02:03:01 AM

    Quote from: the_poet on May 03, 2017, 06:37:56 PM
    Never too late, especially if you’re in for the long haul. Bitcoin isn’t going anywhere but up.
    so if ETH is rejected again, will the price crash?
    Please forget ETF, That’s just waste a lot of your time. ETF dies, We don’t need it. Japan adoption is better rather than ETF that bitcoin will take hundreds million dollars will flow to the bitcoin market capitalization. Quote from: gerrards08 on Today at 07:19:21 AM
    not yet, the price of bitcoin is still low. We will reach the next stage is $2000. There was no word late to invest in bitcoin
    as i said, if you believe bitcoin will worth $2000 or more in the future, and there is no doubt to invest in bitcoin.

  • Slark
    6 months ago Slark

    Quote from: oblomov on May 03, 2017, 02:55:31 PM
    We are just beginning to see the acceleration of adoption by the professional investment community.
    Whom is that behind that professional investment community exactly? I thought that institutional money is off limit and catch even touch bitcoin, so companies or funds can’t invest in bitcoin.If professional money managers would find a way to invest in bitcoin without ETF that would be huge news indeed.

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