Bitcoin under $ 8,000 is an excellent buying opportunity

During an interview recently published in Forbes, Joel Birch, founder of the Lunar cryptocurrency investment fund, said that Bitcoin (BTC) under $ 8,000 represents an excellent buying opportunity.

Buying at the lows and selling at the maximum does not always work

According to Birch, not always trying to buy at lows and selling at highs is a good trading strategy. On the contrary, in his opinion investors should regularly buy Bitcoins using a fixed dollar amount, so as to reduce the impact of volatility over time.

The man then added:

"I can't say for sure if Bitcoin will reach $ 3,000, $ 4,000 or $ 6,000. But I don't care, because I believe that any price below $ 8,000 is fine. (…) In the last few weeks, as soon as the price went below $ 8,000 we bought. "

"In the end Bitcoin will exceed $ 20,000"

Birch admitted that he could not accurately predict future Bitcoin movements, and that we could see a further contraction of around $ 6,000. Nevertheless, it is certain that starting from May of next year the cryptocurrency trend will return to an upward trend.

In 2020 we will see a reduction in the rewards for mining, which will significantly reduce the number of new currencies in circulation: this event, experts expect, could result in a significant increase in the price of Bitcoin.

Finally, the man stated:

"I think Bitcoin will eventually exceed $ 20,000, and any value under $ 8,000 is a good purchase price."