Three Finance Experts Explain: Is It The Right Time To Buy Bitcoin?

The cryptocurrency market has had its share of bad news throughout 2022, and many negative developments have dragged the market down. However, at the point we have reached today, we see that this trend has not ended. Just yesterday, the US Commodity and Futures Trading Commission filed a lawsuit against the world’s leading cryptocurrency exchange and its CEO. Ultimately, the market reacted to this development and the price of Bitcoin fell below $ 27 thousand. There are also experts who remain hopeful towards the market in the midst of this decline.

Chris Burniske, partner at Place Holder and former head of crypto at Ark Invest, believes US pressure on crypto will backfire. Chris Burniske, who accurately predicted the bottom of last year’s crypto bear market, said in a recent interview with The Exchange that now is the time to buy Bitcoin and Ethereum. According to Burniske, the regulatory pressure on the industry will eventually strengthen the faith of crypto investors and attract more people to Bitcoin. Burniske also emphasized that Bitcoin was created for “moments like this” when trust in the traditional banking system began to wane.

However, it’s not just Burniske; Two other financial experts – Mike McGlone and Robert Kiyosaki – shared their thoughts on the cryptocurrency market amid the current financial crisis where banks are crashing.

In another interview, Mike McGlone, a senior commodity strategist at Bloomberg Intelligence, stated that the banking crisis was a catalyst for the crypto bull run. McGlone claimed that Bitcoin was born after the last financial crisis in 2008-09. McGlone added that Bitcoin has done quite well, bouncing above the $25,000 resistance. He underlined that Bitcoin has become more like gold and US Treasury Bonds, but in a higher beta.

Robert Kiyosaki, author of Rich Dad, Poor Dad, explained why he bought a ton of Bitcoin when he was only $6,000 on VladTV. He also talked about why Warren Buffett is an “idiot” when it comes to Bitcoin and cryptocurrencies. Kiyosaki also said that Bitcoin and Ethereum offer a great buying opportunity.

Kiyosaki said that he never saves dollars and instead buys gold, silver, Bitcoin and Ethereum. He also stated that he didn’t like it very much, but it had some value.

Overall, these financial experts suggest that now is a good time to invest in cryptocurrencies.

You can follow the current price action here.

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