Is Today a Good Day To Buy Bitcoin? A Quick Guide for New Investors

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Bitcoin has once again captured the attention of investors worldwide as its price surged past $73,000 in late October 2024—marking its highest level since March and reigniting a critical question for newcomers and seasoned traders alike: Is today a good day to buy Bitcoin?

While no one can predict the future with certainty, understanding market trends, economic catalysts, and historical patterns can help you make a more informed decision. This guide breaks down the key factors influencing Bitcoin’s price, explores expert predictions, and offers practical strategies for entering the market wisely.

Bitcoin Surges Past $73,000 Amid Market Optimism

After months of trading in a tight range between $55,000 and $70,000, Bitcoin broke out in late October, climbing above $73,000. This surge coincided with a wave of short liquidations exceeding **$113 million** in 24 hours, according to CoinGlass—a sign that bearish bets were collapsing as momentum shifted bullish.

Several macroeconomic and market-specific factors are fueling this rally:

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Zach Pandl, Head of Research at Grayscale Investments, summarized the bullish case:

“Many things are going right for Bitcoin, including a soft landing for the economy, expectations of Fed rate cuts, and a likely shift in U.S. regulatory climate regardless of the election outcome. As long as these trends continue, Bitcoin can keep making new highs into year-end.”

Will the U.S. Election Impact Bitcoin’s Price?

The 2024 U.S. presidential race between Donald Trump and Kamala Harris has become a focal point for crypto investors.

Historically, political clarity—even if not immediately favorable—tends to reduce market uncertainty. With both parties showing some level of engagement with digital assets, many analysts believe that regulatory normalization is inevitable, which could be a long-term tailwind for Bitcoin adoption.

Bitcoin’s 7% weekly gain and 14% monthly increase suggest that investors are already pricing in a positive post-election environment.

Is Now a Good Time to Buy Bitcoin?

The decision to buy Bitcoin should be based on more than just short-term price movements. Consider these three key dimensions:

1. Bitcoin’s Halving Cycle

The most predictable force behind Bitcoin’s price is its four-year halving cycle. The most recent halving occurred in April 2024, reducing block rewards from 6.25 to 3.125 BTC—effectively cutting new supply in half.

Historically, Bitcoin has entered bull markets 6–18 months after each halving, as reduced supply meets growing demand. Given that we’re only six months post-halving, many analysts believe the current rally could be just the beginning.

2. Institutional Adoption Is Accelerating

Major institutions continue to accumulate Bitcoin:

This institutional confidence signals long-term conviction in Bitcoin’s value proposition.

3. Expert Price Predictions Point to Six Figures

While forecasts vary, most experts agree: Bitcoin is headed toward six figures.

Even skeptics like Warren Buffett—who calls Bitcoin “rat poison squared”—can’t deny its growing influence in global finance.

Should You Try to Time the Market?

Attempting to “buy low and sell high” is tempting but notoriously difficult with volatile assets like Bitcoin. Emotional decisions during price swings often lead to buying high and selling low.

Instead, most financial advisors recommend dollar-cost averaging (DCA)—a strategy where you invest a fixed amount at regular intervals (e.g., $100 weekly), regardless of price.

Benefits of DCA:

Over the past decade, DCA into Bitcoin has consistently outperformed lump-sum timing attempts for most retail investors.

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Core Keywords for SEO & Search Intent

To align with what investors are searching for, this guide naturally integrates the following core keywords:

These terms reflect high-intent queries from users exploring entry points into the market.

Frequently Asked Questions (FAQ)

Q: Is it too late to buy Bitcoin at $73,000?

A: Not necessarily. While Bitcoin is near all-time highs, many experts believe it’s still early in the post-halving bull cycle. Long-term holders often look past short-term prices, focusing instead on adoption trends and scarcity.

Q: How does the Bitcoin halving affect price?

A: Halving reduces the rate of new Bitcoin creation, increasing scarcity. Historically, this has led to significant price increases in the 12–24 months following the event due to supply-demand imbalances.

Q: Should I wait for a dip before buying?

A: Timing dips is challenging. Instead of waiting indefinitely, consider using dollar-cost averaging to enter gradually. This reduces risk and avoids missing out on sustained rallies.

Q: Can political events like elections affect Bitcoin?

A: Yes. Elections can influence regulatory sentiment. However, increasing bipartisan engagement with crypto suggests that clearer rules—and potentially favorable policies—are on the horizon.

Q: What’s the safest way to start investing in Bitcoin?

A: Begin with a small allocation using a reputable exchange. Use dollar-cost averaging, enable two-factor authentication, and store your BTC in a secure wallet over time.

Q: Are experts really predicting $1 million Bitcoin?

A: Some are. While not consensus, projections from firms like ARK Invest and analyst surveys suggest that six-figure prices by 2025–2030 are plausible under continued institutional adoption and macroeconomic tailwinds.

Top Tools for Tracking Bitcoin Market Trends

To make informed decisions, use reliable analytics platforms:

  1. Bitcoin Magazine Pro – Offers free and premium charts with expert commentary.
  2. TradingView – Ideal for technical analysis with customizable indicators.
  3. CoinMarketCap & Coingecko – Great for real-time pricing and market data.
  4. Santiment – Advanced behavioral analytics for tracking whale activity and network health.

👉 Access powerful market tools and real-time data to refine your investment strategy.

Final Thoughts: Timing Matters Less Than Consistency

While the question “Is today a good day to buy Bitcoin?” is natural, the better question might be: “Am I ready to start building a long-term position?”

Bitcoin’s volatility means no single day is perfectly optimal—but consistent investment through dollar-cost averaging, combined with an understanding of halving cycles and macro trends, offers a proven path forward.

With institutional adoption rising, regulatory clarity improving, and scarcity increasing post-halving, the fundamentals have never been stronger.

Whether you're investing $10 or $10,000, the key is to start with knowledge, stay disciplined, and focus on the long game.