Now may be the best time to buy the original virtual currency, says Fundstrat’s Tom Lee

The price of Bitcoin is gearing up for a steady rebound, after a plunge to less than 8000 dollars. The price rise of Bitcoin incremented the market cap of 4 out of 10 most important cryptocurrencies as recorded by Bitcoin cash, BinanceCoin, EOS, and Nucleus Vision within just a day. The price of BinanceCoin spiked by 23% to a value of 9.89 dollars within 24 hours. This coin had been targeted by hackers, leading to Binance offering an amount of 10 million dollars as a reward for the arrest of the cybercriminals.

According to the observation made by a Bitcoin analyst, now is the best time to invest in Bitcoin, despite the skepticism over the recent price plunges. The Bitcoin-Misery-Index recorded a value as low as 18.80 which is the lowest value since the year 2011. Fundstrat’s Lee has said that lower the value recorded by the Index, the better is the time and opportunity to purchase Bitcoins.