Lately, Bitcoin and its peers have indicated signs of gaining momentum. In the past weekend, Bitcoin and other coins saw a significant rally. However, for investors, it may not mean much yet. But while approaching Bitcoin it is better to consider whether the cryptocurrency has long-term potential given that the industry is highly volatile.
When a stock or a coin is volatile does not mean that majority of investors are buying and selling that often. Only an insignificant percent of outstanding Bitcoin is traded, thus creating significant volatility in the asset.
Investors who are bullish about the stock can thus take advantage of the short-term price movements to make a long-term investment. For investors who are still bullish about Bitcoin, this is the best time they can commit to the coin while it’s still undervalued.
Several catalysts could rally Bitcoin again. That includes the new and innovative technologies in the sector that continue to attract new investors. Furthermore, investors are looking for alternative assets like Bitcoin to evade inflation. Given that inflation is continuing to increase, Bitcoin once again could rally.
In 2020, Bitcoin rallied from $7, 000 to $60,000 in just a few weeks. There are enough reasons to believe that Bitcoin could once again rally. So if you are looking to buy Bitcoin while it still offers great value, here are the options to consider.
CI Galaxy Bitcoin ETF
It is one of the best exchange-traded funds that enable investors to buy and hold Bitcoin. It offers charge low management fees. It also offers investors growth potential.
Bitfarms (TSX: BITF)
Another way of gaining exposure is to buy cryptocurrency directly from miners. Bitfarms offers impressive growth potential for an investor. However, it’s is a bit riskier to buy directly from miners given that the crypto is highly volatile.
While Bitcoin and its peers are extremely volatile, that means they can rally or fall a lot much faster. For investors looking to gain exposure to Bitcoin, Bitfarms and CI Galaxy ETF are among the best options. Investors can consider buying Bitcoin at this moment while the asset is undervalued.