“That’s very important, because it gives you an understanding of what people are actually trying to do in the market,” he says. “Once you understand that, what they’re thinking, how much it costs them to execute a transaction or if they have issues with cold wallets or hot wallets being compromised, all these kinds of things start becoming clear.”
10. What do I buy?
As for when to buy Bitcoin… “It really depends on your goals,” says Knight. “If you have a small amount of money which you are willing to lose, then that’s okay because over time the price will go up and catch up with the losses. But if you don’t believe in Bitcoin surviving long-term and think there is too much volatility risk , well then wait until The Fork…” He clarifies: “The fork is this event where Bitcoin splits into two coins right before it happens where everybody loses their Bitcoin.”