Should you buy Bitcoin NOW or is it too late? The TRUTH about whether you should buy Bitcoin in 2024. Bitcoin has recently hit a new all time high confirming that a new bull market is well underway. The big question now is whether it is still early or is it too late to buy Bitcoin in 204.

Bitcoin's recent new all time high has led to a huge amount of social media hype and mainstream media coverage. This coverage has led to a new wave of potential investors wondering if they should be buying Bitcoin in 2024 or is it too late.

WARNING: Please stay away from the comments section as this video is related to Bitcoin and cryptocurrency it will be full of impersonators, scam bots, people shilling the next big altcoins and meme coins and Bitcoin maxis telling you to buy it as it's the future of finance.

Is Bitcoin a good investment? This is a question that can only be answered by the individual person asking it. There are many factors to consider when buying Bitcoin, meaning the answer is different for everyone.

In this video, the first thing we establish is what Bitcoin actually is and mort importantly, what it isn't.

Bitcoin is a decentralised cryptocurrency that uses blockchain technology to record all transactions on a public ledger. It's secured by miners, miners compete to mine blocks and they are rewarded in Bitcoins. The maximum supply of bitcoins is 21 million.

Bitcoin is not a replacement for traditional government backed fiat currency. The technology is currently too slow and expensive to replace fiat.

It is an alternative store of value, a bit like digital gold but with a known fixed supply and greater flexibility (borderless transactions).

What is the main reason people buy Bitcoin? The majority of investors buy Bitcoin to make money, they buy Bitcoin in the hope that the price of Bitcoin will go up. There will be a minority of buyers that believe in the underlying technology and decentralisation, but the main reason for most buyers is the chance of making money.

Is Bitcoin going to crash? Due to the volatile nature of BTC, it is inevitable that Bitcoin will crash again at some point. However, at the time of recording this video, Bitcoin is looking more likely to go up further in 2024 and possibly 2025 before correcting again at a later date.

The combination of ETF approvals driving institutional investment and the Bitcoin Halving that historically has been bullish for price action, is likely to be enough to continue to push the price of Bitcoin higher in the coming months.

Is it safe to buy Bitcoin? Volatility aside, there is no 100% safe way to buy Bitcoin. It's not like a savings account where you get FSCS government backed protection. If you lose your Bitcoin or the exchange holding it goes bust you could lose your investment.

Am I buying Bitcoin in 2024? I want to, but not at the current price I am waiting for an entry price that fits my individual risk tolerance. This is a perfect example of why you should not buy when anyone else tells you to as we all have different goals. You should also never believe anyone else's Bitcoin price predictions as no one knows what will happen.

Should you buy Bitcoin in 2024? Only you can answer that based on your risk tolerance and investment goals.

How much should you invest Bitcoin? How long are you holding it for? How comfortable are you with holding through big downturns (potentially 80%+)?

These are important questions that you need to ask yourself before buying Bitcoin in 2024.