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When, where, and how to Buy Bitcoin?

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Miguel A. Rodriguez
Miguel A. Rodriguez
16 February 2023
Buying Bitcoin is an investment that comes with significant risk. While BTCUSD trading experienced immense highs, it is also fallen to devastating lows. Here are the options to buy Bitcoin!

What is Bitcoin?

Bitcoin (BTC) was created in 2009 by an individual using the pseudonym Satoshi Nakamoto and it has seen significant growth in value. To get a better image of the crypto phenomenon, let’s take for example the constant increase in the price of cryptocurrencies. Bitcoin’s price surged by about 30,000% from October 2013 to early June 2021, for example.  

While this is impressive, some analysts believe Bitcoin's value will continue to rise as cryptocurrencies and blockchain technology become more available to the masses and more organizations start using the technology. Others dismiss Bitcoin as being a bubble about to burst and deem it worthless. 

For example, after reaching $20,000 in 2017, its value dropped and did not rise above half of that until 2020. Even if it has been trending upward since then, it is still an extremely risky investment, and environmental concerns raised by trusted personalities, such as Elon Musk, can make the price of Bitcoin tumble. That is why experts do not recommend you invest more than you can afford to lose in Bitcoin.  

The maximum supply of Bitcoin was established since its creation at 21 million coins. In November 2021, 18.87 million BTC were in circulation, accounting for 90 % of the total supply. As more investors get interested to own and trade Bitcoin, the price rises because of the finite supply. On November 10, 2021, Bitcoin reached its all-time high. 

Because Bitcoin is a decentralized means to store and transfer wealth, its value is unaffected by monetary policies in any one country, making it increasingly appealing to investors as a means of diversifying their portfolios. In the beginning, Bitcoin trading was a controversial subject, reserved for libertarian idealists, but today, it is gaining the interest of some of the world's major financial institutions. 

As crypto exchanges have become more accessible and the BTCUSD price has risen, more people have begun to invest in cryptocurrencyBitcoin trading is allowing a great transfer of wealth and even new investors can hope to profit from its fast growth and earn higher returns than they would on the stock market. 

With so much attention from the media and financial traders, new cryptocurrency investors are always looking for advantageous ways (platforms) to buy Bitcoin online. Luckily, there are numerous services and guides on how to buy Bitcoin to help you get started in the cryptocurrency market. 

 

Where to Buy Bitcoin   

There are two ways cryptocurrency investors can choose when searching how to buy Bitcoin online: 

  • Cryptocurrency exchange
  • Online Brokers 

Crypto exchanges might be a good option for holding your funds, especially if you plan to withdraw them to a private wallet.

Online brokers are another great option where to buy Bitcoin, which is increasing in popularity lately due to ease of trading, fast transaction, and greater control over the digital assets in your portfolio.  

When you use a broker platform, you gain access to a comprehensive feature set that will assist you in more precisely calculating your strategies and risks. As a result, you will be able to add more indicators to the chart and use the built-in technical analysis tools. However, unlike an exchange, the broker platform will not provide you with the same large offer of cryptos to trade.  

Additionally, global brokers like CAPEX also provide a few options to indirectly invest in Bitcoin and other cryptocurrencies: cryptocurrency Exchange-Traded-Funds (ETFs) and companies connected to cryptocurrencies (crypto stocks). 

Such multi-asset platforms hand investors many useful financial instruments that can generate a passive income (interest with forex trading or dividend with stock trading). 

Buying Bitcoin over an exchange 

If you want to participate in a crypto project development and own the digital asset, you can buy Bitcoin online through a cryptocurrency exchange, such as Binance, Kraken, Bittrex or Coinbase, and store it in a digital wallet.  

Having an account on a cryptocurrency exchange allows you to send and receive Bitcoin. Transferring Bitcoin is like the way traditional bank transfers work, except for the bank account address, which is replaced with a bitcoin address. Because digital currency is transmitted directly between individuals without needing third-party entities, such as banks, transaction fees are cheaper than those charged by traditional institutions. 

If you want to hold your crypto for a longer time, it is advised to transfer them from the crypto exchange to a secure cryptocurrency wallet. Wallets are much safer, and each private crypto wallet has a private key. It is critical to keep your private key safe because you won't be able to access your crypto without it, and if it's easily available, your funds could be stolen. 

Buying bitcoin through an exchange is for those who want to use it for day trading or purchasing crypto to transfer to a wallet. When you’re buying Bitcoin through a cryptocurrency exchange, you own the digital asset, and you can transfer it to a crypto wallet or do whatever you wish with it. If the price of Bitcoin rises, then the value of your portfolio goes up as well. But if the price of Bitcoin falls, then the value of your portfolio falls, while the amount of Bitcoin remains the same. 

Here are the main drawbacks when buying bitcoin through a cryptocurrency exchange: 

  • Cryptocurrency exchanges may not be regulated in your country and offer little to no protection for investors.  
  • The matching engines and servers on bitcoin exchanges are often unreliable, leading to the inability to access your account and control your funds. 
  • Cryptocurrency exchanges have many restrictions and limitations for their services, including transaction fees, withdrawal fees, and imposing minimum amounts for funding and withdrawing funds.  

The good news is that investors can remove the risks presented by the crypto exchange by trading Bitcoin with contracts for difference (CFDs). Bitcoin CFDs allow you to speculate on the price of the cryptocurrency without having to own the digital asset.

Read on if you want to learn to trade Bitcoin with capex.com in the most convenient way. 

Buying Bitcoin with an online Broker 

Trading Bitcoin with an online broker like CAPEX means that instead of owning bitcoin outright, you’ll be speculating on its price with CFDs.  

The main difference between buying Bitcoin from an exchange and buying Bitcoin from an online broker is that you don’t own the Bitcoin when you use a broker. Owning crypto requires investors to have a crypto wallet, either within the exchange or a private wallet. But when you purchase Bitcoin CFDs using an online broker, the CFDs are stored in your account and are far more liquid, which makes trading CFDs more convenient. Unlike cryptocurrency exchanges, online CFDs brokers are regulated by financial authorities.   

The Alternative Way to Invest in Bitcoin  

Trading CFDs is a process of buying or selling CFDs and can generate a profit if the value of the asset moves in the direction of the investor’s prediction, or a loss if the market goes against him. 

You can buy Bitcoin CFDs (go long) if you believe the value of the digital asset will increase.  

At the same time, you can “go short” if you believe that the price of the underlying asset, in this case, Bitcoin, will decrease, by selling CFDs. 

Trading CFDs provides leverage, and you can open your position by depositing only a margin.  

For example, if a trader wants to buy 0.1 Bitcoin CFD at $40.000 would only require $2.000 of trading capital. 

It’s important to remember that leverage can increase both your profits and your losses, and they will be based on the full exposure of the trade, not just the margin requirement needed to open it. Potential losses, as well as profits, could exceed your margin. 

Concisely, if you choose to trade crypto CFDs, you can profit from the difference between the buying and the selling position.  

With CAPEX, you can trade CFDs on futures or spot prices. Trading CFDs on futures gives you exposure to the futures market, but without requiring you to take on any obligations or worry about any of the other nuances that are associated with futures trading. 

Buy Bitcoin CFDs - Go Long

Instead of taking ownership of bitcoin, you can place a ‘long position’ translates to buying Bitcoin CFDs. Your position, or Bitcoin CFDs, will increase in value according to the increase in the price of the digital asset bitcoin price increases. If the price of bitcoin falls, then your position will lose value and can lead to loss. 

Let’s assume that Bitcoin is trading at a sell/buy price of 40.200/40.300 USD. You want to buy 0.1 CFDs (units) because you think the price of Bitcoin will go up. Bitcoin has a 1:2 leverage or a margin rate of 50%, which means that you must deposit only 50% of the position’s value as position margin. 

In this example, your CFD position margin will be $2015 (50% x (0.1 units x $40.300 buy price)). Losses greater than the margin can occur if the price of Bitcoin moves against your position. 

Outcome A: a profitable trade 

If your prediction was correct, and the price of Bitcoin surges over the next hours or days, then you have made a profitable trade. If the sell/buy price is 42.200/42.300 USD when you decide to close your position by selling at 42.300 (the new sell price), then your profit will be $200. 

The price has moved $2000 (42.300 – 40.300) in your favor. Multiply this by the size of your position (0.1 units) to calculate your gross profit which is $200. 

If the position was closed during the day, there will not be any swap charges and the net profit is $200. 

If the position was closed after a few days, there will be swap charges according to the overnight rollover specification, in this case, 0.0563%. 

Let us assume the position was closed the next day, the overnight swap calculation formula will be: 

  • Overnight swap = 0.1 (units) x $41.300 (price at rollover) x 0.0563% x 1 (days) = $2.325 

Therefore, your total profit on Bitcoin CFD is your gross profit minus the rollover cost. 

  • $200 - $2.325 = $197.675 net profit 

Outcome B: a losing trade

If your prediction for the price of Bitcoin was wrong, the bitcoin CFD trade will result in a loss. Let’s assume that the price of Bitcoin drops over the next hour to a sell/buy price of $41.000/41.100. Because you want to limit the loss in the eventuality that the price continues to drop, you can sell at $41.000 (the new sell price) to close the position. 

The price has moved $700 (41.000-40.300) against you. Multiply this by the size of your position (0.1 units) to calculate your loss, which is $70. 

Sell Bitcoin CFDs - Go Short

In this CFD example, Bitcoin is trading at a sell/buy price of $40.200/40.300. Assume you want to sell 0.5 CFDs (units) because you think the price will go down. Bitcoin has a 1:2 leverage or a margin rate of 50%, which means that you only must deposit 50% of the position’s value as position margin.  

In this example, your CFD position margin will be $10.050 (50% x (0.5 units x $40.200 sell price)). Remember that if the price moves against you, it is possible to lose more than your initial position margin of $10.050. 

Outcome A: a profitable trade 

Your prediction was correct, and the price falls over the next 2 days to a sell/buy price of 37.100/37.200. You decide to close your trade by buying back at 37.200 (the new buy price). 

The price has moved $3.000 (40.200-37.200) in your favor. Multiply this by the size of your position (0.5 units) to calculate your profit, which is $1500 gross. 

Let us assume the position was closed after 2 days, the overnight swap calculation formula will be: 

  • Overnight swap = 0.5 (units) x $38.500 (average price at rollover) x 0.0563% x 2 (days) = $10.84 

Therefore, your total profit on Bitcoin CFD is your gross profit minus the rollover cost. 

  • $1500 - $10.84 = $1489.16 net profit 

Outcome B: a losing trade 

Unfortunately, your prediction was wrong, and the price of Bitcoin rises over the next hour to a sell/buy price of 41.000/41.100. You feel the price is likely to continue up, so to limit your potential loss you decide to buy at 41.100 (the new buy price) to close the position. 

The price has moved $900 (41.100-40.200) against you. Multiply this by the size of your position (0.5 units) to calculate your loss, which is $450 

If you are not ready to trade CFDs at spot or futures prices yet, we have also got educational resources like CAPEX Academy with free courses on how to trade. Plus, we offer a demo account – giving you $50,000 in virtual funds to build your confidence in a risk-free environment. 

Investing in Bitcoin without actually buying Bitcoin  

While buying and day trading cryptocurrency is a major trend right now, it is important to remember that cryptocurrencies are a volatile and risky investment choice. If investing in crypto on an exchange or via a broker does not feel like the right choice for you, here are a few options to indirectly invest in Bitcoin and other cryptocurrencies: 

Exchange-Traded Funds - Bitcoin ETF 

Exchange-traded funds (ETFs) are popular investment tools that allow investors to buy exposure to hundreds of individual investments in bulk. That is why ETFs are a means of diversification for your portfolio and as less risky than investing in individual investments.  

bitcoin ETF allows investors to trade cryptocurrency on a traditional market and eliminates the need to trade the asset on a crypto exchange. Another advantage of trading Bitcoin ETFs is that investors do not have to worry about the security aspects of trading crypto.  

US investors can enter the crypto market by using ProShares Bitcoin Strategy ETF (BITO). The Fund provides capital appreciation through managed exposure to bitcoin futures contracts. 

>> Learn what is an ETF and how does it work 

Companies Connected to Bitcoin and Cryptocurrency - Bitcoin Stocks

Another option is to invest in cryptocurrency indirectly by investing and buying shares of companies that offer real-life products and services but still use or own cryptocurrencies as part of their business model (also known as Bitcoin stocks). With an all-in-one trading account with CAPEX, you can also trade shares CFD of public companies like:  

  • Nvidia (NVDA). This technology company builds and sells GPUs, which are the main equipment needed to mine cryptocurrency. (How to buy Nvidia shares) 
  • PayPal (PYPL). This is a worldwide payment service that allows their customers to buy and sell crypto using their PayPal and Venmo account. (How to buy PayPal shares) 
  • Square (SQ). Since October 2020, Square has purchased over $220 million worth of Bitcoin. As of February 2021, this payment services provider stated that 5% of its cash is stored in Bitcoin. Their app, Square Cash, allows clients to buy, sell, and trade crypto. (How to buy Square shares) 
  • Coinbase (COIN). Coinbase is a cryptocurrency exchange that allows consumers, financial institutions, and businesses to transact between fiat and cryptocurrencies and securely store and use cryptocurrencies. (How to buy Coinbase shares) 
  • Tesla (TSLA). Tesla is an electric vehicle manufacturer, has always been a staunch supporter of digital currencies, and started accepting them as payments in February 2021, when the company purchased $1.5 billion worth of bitcoin. (How to buy Tesla shares)
  • Riot Blockchain (RIOT). Riot is a Bitcoin mining company, supporting the Bitcoin blockchain through rapidly expanding large-scale mining in the United States. (How to buy Riot Blockchain shares) 
  • CME Group (CME). CME is a financial derivatives exchange that offers trades in cryptocurrencies as well. In Q3 2021, the company reported a 14% year-over-year increase in its average daily volume (ADV) at 17.8 million contracts. (How to buy CME shares) 

>> Learn more about stock investing 

How to buy Bitcoin online 

Are you wondering how to buy Bitcoin with CFDs? CAPEX offers BTC trading via CFDs on futures or spot prices to speculate on the value of Bitcoin against the US dollar, as well as the brand-new PRO Shares Bitcoin Strategy ETF. Here are the steps: 

Step 1: Create an account and deposit funds 

When you trade on cryptocurrencies, instead of purchasing Bitcoin and other popular digital currencies, you can be ready to open a position much faster. You do not need a digital wallet or an account with an exchange. In fact, all you need to trade via CFDs is an account with a leveraged trading provider. 

With CAPEX, you can open an account in minutes, and there is no obligation to add funds until you want to place a trade.  

Bitcoin account capex
How to create an account with CAPEX

 When you create a trading account with CAPEX, you will be able to: 

  • ‘Buy’ (go long) or ‘sell’ (go short) Bitcoin and other popular cryptocurrencies to speculate on their price rising or falling
  • Take a position on our range of ETFs to get exposure to a basket of shares from an entire country, index, or sector that could be rising or falling in price.
  • Trade a host of global indices to go long or short on the performance of an entire economy with a single trade.
  • Use QuantX, the smart portfolio builder that helps you cover the popular industries and only invest in the top-performing stocks. 

Step 2: Choose your Crypto trading platform 

Our trading platforms can provide you with a smarter and faster way to trade Bitcoin CFDs – with personalized alerts, interactive charts, trading signals, and built-in risk management tools. You can trade via the CAPEX trading platform using: 

CAPEX Web Trader 

Trade on one of the most complete, fully customizable trading platforms on the market. 
 
Available on desktop (Windows, Mac) and mobile (Android, iOS), it provides intuitive, web-based access to a vast range of tradable instruments, charting tools, analytical tools, and many more features. 

To view Bitcoin's real-time price and chart on the trading platform can click on the "Search" icon located in the left panel or by clicking on "Cryptocurrency" and then select the instrument, in this case, Bitcoin Spot, Bitcoin (Futures), Bitcoin Cash or Bitcoin ETF. 

bitcoin trading app
WebTrader CAPEX

MetaTrader 5 

MetaTrader 5, one of the best crypto trading apps, is providing superior tools for comprehensive price analysis, use of algorithmic trading applications (trading robotsExpert Advisor), and copy trading. 

MetaTrader 5 is available on both desktop and mobile.  

Step 3: Pick up a Bitcoin trading strategy 

Learning how to buy Bitcoin is easy but adopting the right bitcoin trading strategy is essential to time the market. 

The main Bitcoin trading strategies are: 

Buy-and-Hold

Buy and hold, also called position trading, is an investment strategy whereby an investor buys Bitcoins to hold them long term, with the goal of realizing price appreciation, despite volatility.  

Trend trading

Traders take a position according to the main trend (months to years). You can “go long” if Bitcoin is in a bullish trend or “go short” if the Bitcoin trend is bearish. If the major trend starts to slow or reverse, you will think about closing your position and opening a new one to match the emerging Bitcoin trend. 

Day trading

All trades are performed during the day. There are no open positions overnight, though no rollover charges. Traders are looking to profit from bitcoin’s short-term price movements (including scalping), and it can enable them to make the most of daily volatility in bitcoin’s price. 

Hedging

When you hedge Bitcoin, it means that you use CFDs to counteract the Bitcoin price movement you already own. For example, if you owned some bitcoins but were concerned about a short-term drop in their value, you could open a short position on bitcoin with CFDs. If the Bitcoin price falls, the gains on your short position would offset some or all the losses on the coins you own.  

Following the chart patterns and general trends can give you a hint to where Bitcoin is going.  

Step 4: Set your Bitcoin orders 

 A trade order is an agreement to buy or sell a specific asset like Bitcoin at a specific price or price range. 

To buy Bitcoin CFD with CAPEX, click on the "Buy" button and a window is displayed to configure the purchase order. You can choose among Market, Limit, and Stop orders. 

Additionally, you can pre-define Stop Loss and Take profit orders, which are crucial risk management tools – that help you minimize the potential loss and maximize the potential gains. 

Bitcoin buy order
Bitcoin trading orders

How to buy Bitcoin with Market Orders 

The simplest type of trade order is a market order. Market orders are usually placed by traders if they want to be certain trade is executed. A market order is instant. Therefore, it is simply an order placed by a trader to buy or sell Bitcoin immediately at whatever its current price is.  

I want to buy 0.75 Bitcoin (BTC) right now or as quickly as possible. 

How to buy Bitcoin with Limit Orders 

While a market order is simply an order placed by traders to buy or sell an asset immediately at whatever the current price, a limit order in its most basic sense, is an order to buy or sell an asset at a specific price. Buy limit orders are placed above key support levels with the purpose of limiting price risks anticipating the uptrend will resume after a correction (buy the dip).  

The price for BTC/USD is currently at USD 49,000 and you place a buy limit order at USD 45,000, then your order is meant to execute at the price of USD 45,000 as soon as there is a matching sell order at this price or better. 

How to buy Bitcoin with Stop Orders 

A stop order is an order that becomes a market order only once a specified price is reached. It can be used to enter a new position or to exit an existing one. Limit orders are placed above key resistance levels anticipating a breakout after a consolidation. 

The price for BTC/USD is currently at USD 49,000 and you place a buy stop order at USD 50,500, then your order is meant to become market at the price of USD 50,500 as soon as the price is reached. 

Step 5: Monitor and close your Bitcoin position 

To open a Bitcoin trade, you’d buy if you thought that the price was going to rise or sell if you thought the price was going to fall. Once your trade is open, you’ll need to monitor the market to make sure that it’s moving in the way you anticipated. 

The technical indicators available on our trading platform can help you to determine what Bitcoin’s price might do next. Indicators can also help you monitor current market conditions like volatility levels or market sentiment. 

Bitcoin indicators
Add Technical Indicators

 

CAPEX WebTrader can deliver an in-depth analysis of the charts and offers over 90 indicators (including moving averageMACDRSI, and Bollinger Bands). The WebTrader platform also supports an interactive trading activity with high-end research tools helping you interpret market data.  

Take Profit & Stop Loss

Traders can close a position immediately to take a profit or to cut a loss. You can use market order or set Stop Loss and Take Profit levels when you set the order to buy Bitcoin 

The platform offers the stop-loss option, which lets you clearly state how much you're willing to risk with your trade. Similarly, the take profit is the exact opposite. It tells your broker how much you expect to make as a profit and when you want to close your position. 

Any profits you make will be paid directly into your trading account. Losses are deducted from your account balance. 

When to buy Bitcoin 

Investors should be aware of the fundamental and technical analysis when deciding when to buy Bitcoin. The fundamental analysis considers the news and events about the coins, exchanges, and other crypto businesses. The technical analysis uses the price value history to map the evolution of the supply and demand for Bitcoin. 

Bitcoin Price Prediction using Fundamentals 

When using the fundamental analysis approach, investors should be aware of the government regulation, latest cryptocurrency updates, and technical issues, as well as cryptocurrency exchanges that affect the supply and demand for cryptocurrencies.  

For instance, when Bitcoin CME was introduced into the government regulations, and it drove the price of Bitcoin to almost $20,000 in December 2017. 

An accurate Bitcoin price forecast using fundamental analysis considers the three main aspects: 

  • Blockchain metrics (hash rate, active addresses, transactions fees, and values)  
  • Financial (market capitalization, liquidity, trading volume, circulating supply) 
  • Project overview (team’s background, whitepaper, competitors, roadmap, tokenomics) 

What is the future of Bitcoin? 

According to a Forbes article, a panel of 50 bitcoin and cryptocurrency experts has predicted the bitcoin price will continue to climb through 2022, hitting highs of around $100,000 sooner than later, before surging to $250,000 by 2025 and a staggering $5 million per bitcoin by 2030. 

On November 10, 2021, Bitcoin reached a new all-time high at $68,789.63. While the price is volatile and varies from day to day, many Bitcoin investors expect it to hit $100,000 by the end of 2021 or at the beginning of 2022.  

As many corporate investors are fearful of the inflation effects of the US dollar, they hope to hedge their investments by transferring their wealth into cryptocurrencies. JP Morgan, one of the largest banks in the US, expects the price of Bitcoin to surge over six figures by 2022. It also sees investment in digital assets as a better alternative to traditional stock investments.  

There are also critics like the billionaire investor John Paulson, who, in recent comments, called digital currencies a bubble that will “eventually prove to be worthless.” 

“Once the exuberance wears off, or liquidity dries up, they will go to zero. I wouldn’t recommend anyone invest in cryptocurrencies,” said Paulsen according to Yahoo Finance

“I would describe them as a limited supply of nothing. So, to the extent there is more demand than the limited supply, the price would go up. But to the extent the demand falls, then the price would go down. There’s no intrinsic value to any of the cryptocurrencies except that there’s a limited amount,” added the hedge fund manager who made $20 billion predicting the downfall of the US housing market in 2008. 

Because is difficult to analyze the intrinsic value of a cryptocurrency, it is recommended you perform a technical analysis before investing in Bitcoin CFDs. It might offer some insight into the past movements of Bitcoin, helping you predict where it will head in the future. 

Bitcoin price prediction using technical analysis 

Some believe the high concentration of retail traders makes cryptos truer to traditional chart patterns and indications of oversold, overbought conditions, etc. 

Technical analysis techniques can be applied to any market where the price can freely fluctuate, and data is available to see those fluctuations. The CAPEX Web Trader has a full suite of all the best-known technical indicators and chart drawing tools. 

Bitcoin Forecast 2022  

Bitcoin chart price
Bitcoin Price Chart Analysis

Bitcoin surged to new highs and the $61.000-$66.000 resistance level may become a key support area. If the price can hold this range a continuation to the upside is more likely. A narrow, extended consolidation signals a higher probability for the uptrend to resume and a lower probability of a fake breakout. The odds for a fake breakout decreased once the spike to a record high in October (weekly candlestick) showed no selling pressure and was only followed by a first-degree countertrend (minor) that keeps the trend intact. 

Note how well the 52-week SMA follows the primary trend as a dynamic trendline. For a 2022 Bitcoin price forecast, we can consider it the main target of an intermediate trend countertrend (weeks to months) and the lowest price that keeps the Bitcoin trend bullish.  

Such support levels are used to take profit by short sellers using CFDs and to re-enter the trend or add to a position by trend followers' traders and buy-and-hold investors.  

What Moves Bitcoin Price

The most important aspects that can influence the Bitcoin price are:

  • Total supply 
  • Utility 
  • News
  • Rules and regulations

Bitcoin’s price corresponds to the current supply and demand in the crypto space. Considering Bitcoin has a fixed maximum supply of 21 million BTC, it is a digital asset that will experience scarcity as more investors join the Bitcoin trading market. 

An important aspect of what moves the price of Bitcoin is the news.  

When Tesla announced that it will start accepting Bitcoin as payment in March 2021, it drove the price of Bitcoin to a new historical high. However, two months later, Bitcoin’s price plummeted as Tesla CEO, Elon Musk, later affirmed that he is concerned about the carbon footprint of Bitcoin mining and that he will not accept Bitcoin as a means of payment for Tesla 

The two news significantly influenced the price of Bitcoin and other cryptocurrencies.  

In conclusion, should you Buy Bitcoin? 

As with any investment, make sure you carefully assess your financial situation before investing in cryptocurrency, Bitcoin, and the stock market. Bitcoin can be extremely volatile—a single tweet can make its price plummet—as cryptocurrencies are still a highly speculative investment. Follow the already famous crypto investment phrase — "invest only what you can afford to lose". 

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Miguel A. Rodriguez
Miguel A. Rodriguez
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Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.