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Bitcoin bounces back from six-month low: should you buy?

What caused the dip and what happens next?

SAMAA | - Posted: Jul 22, 2021 | Last Updated: 1 day ago
SAMAA |
Posted: Jul 22, 2021 | Last Updated: 1 day ago

Bitcoin, the world’s first and most expensive cryptocurrency, fell below the psychological barrier of $30,000 on Tuesday—its second dip below that level in a month. 

As the bearish trend in the crypto world enters its third month, investors are wondering whether to buy during this dip before it bounces back or wait for prices to drop further so they get an even lower price.

Bitcoin bulls such as Elon Musk continue to support it. Musk’s recent statements at the B Word Conference helped the digital asset bounce back above $32,000. Where is it heading next? SAMAA Money’s Farooq Baloch explains in this video.

Disclaimer: The sole purpose of this report is to educate our readers and viewers about aspects of personal finance. The information provided on SAMAA Digitals platforms is not meant to be taken as financial advice. Please always independently verify or check information being provided before making any investment decision or undertaking any financial transaction.

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