Is this the best time to get into cryptocurrency?

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Is this the best time to get into cryptocurrency?

Rumours about exchanges being shut down in South East Asia and regulatory restrictions have affected cryptocurrency markets and seen prices fall. Does this make it the best time to invest in them?

Headlines about cryptocurrency have filled the news for months and helped fuel price increases in Bitcoin and others virtual coins.

While plenty acted quickly and got in on cryptocurrency, many other potential investors have cautiously considering held back. They feared the opportunity had gone when Bitcoin reached $20,000 and others like Ethereum and Ripple started making big gains.

Warnings about bubbles, regardless of who was making them, have largely gone unheeded. New price records have been set then broken on a regular basis. However, a market correction was always going to happen.

Rumours of a cryptocurrency ban

It’s been nothing like the drastic fall some commentators have predicted (remember Bitcoin was valued at around $900 in December 2016). However, on January 17 Bitcoin tumbled to $10,000 after reports of a potential ban on cryptocurrency trading in South Korea. Fears of a regulatory crackdown sparked a domino effect on the cryptocurrency market. Ethereum dropped 23 per cent and Ripple 33 per cent on the same day.

Some view this as the beginning of the end of cryptocurrency trading. However, it’s more likely to be the breather this market takes while the new financial instruments growing up around cryptocurrencies settle in and the authorities firm up their decisions on how virtual coins will be regulated.

Prices are set to fluctuate further on fears of a collapse and others try to get out of cryptocurrency altogether. This is why it could be exactly the right time to make a shrewd investment in cryptocurrency.

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