There was a sell-off (as always) yesterday for Bitcoin and as expected the altcoins had followed suit with their own selling spree because many traders are profit-takers after such a milestone of break above the $12,000 dollars BTC price point. But as we can see on the trend lines the price is just trying to push up and up indicating a bullish market activity.
So with these current prices cryptos are all relatively cheap. We can experience another run-up soon maybe touching past the $12,500 a few times again so if you would like to get some profit in the future then now is the time not only for buying Bitcoin but also for buying altcoins.
There is a pattern on where to buy and sell your favorite cryptos, just look at the big and long green lines of candles, those really would sort of "correct" to 20%-30% for the short-term perspective. But on the medium term we already had 5X on the price of bitcoin so there is no doom and gloom that I am seeing.
We must remember still that the scarcity of Bitcoin is playing a major role about its appreciating value because retail investors (you and me and newcomers) are trying to acquire it to store and trade or even buy other altcoins particularly institutional investors who are buying BTC so that they can hedge it from inflation of FIAT money.
All these BTC buying and storing makes it more hard to acquire which is why for the long-term perspective you can be assured that if you have BTC now you are in a better position financially compared to those that do not own Cryptocurrency especially Bitcoin.
Disclaimer:
All the statements here are only from the author's own opinion and belief and should not be necessarily taken as facts. Please do your own careful analysis and research before you venture in a highly volatile financial instrument such as Bitcoin and other Altcoins.
