In the past weeks, bitcoin has made a massive bull run on which most investors ended up missing on making a tremedous amount of profits due to the fear cause most of us had expected bitcoin to significantly drop a little longer. Much as this move was unexpected for the crypto currency world some investors had managed to jump in early enough to realise very heavy PNLs in profits. This has left most people wondering whether this is the right time to jump in the position to ride the move to the top.
That's what we gonna discuss in this article.
For new souls in the crypto world, what is Bitcoin?
Bitcoin is a digital currency, it uses peer to peer payment methods therefore making it free from being manipulated by the banks, speaking of banks, you might be wondering how it can be exchanged then, most crypto holders use a broker or a digital currency exchange such as Binance.
So bitcoin is decentralised meaning it is not regulated by a financial authority as we mentioned above. BItcoin crashed in 2022 this is believed to have been a result of inflation and high interest rates. According to most exchanges such as binance, the price of bitcoin coin had fallen to $16000 in November of 2022.
However, the market has been steadily recovering and as of 18th febuary 2024, 1 BITCOIN is priced at $51000.
Is it the right time to buy?
With most speculators, predicting bitcoin to sky rocket to higher prices of up to $120,000 per BITCOIN by the tear 2026, I personally think It would be worth the risk to invest what you can affort to lose into the crypto and let the odds play. as Ive been seeing of late most big groups jumping into the bull run, with speculations of the chinese government, Dubai and Black rock company jumping into the bull run earlier this year.
Personally, i will invest some little pocket change into the coin, so as not to miss out if all goes as expected.
Disclaimer: Read Before Investing in Bitcoin
This blog article is for informational purposes only and should not be considered financial advice. Investing in Bitcoin, or any cryptocurrency, carries significant risks and is not suitable for all investors.
Here are some key points to remember:
- The price of Bitcoin is highly volatile: It can fluctuate rapidly and unpredictably, leading to potential financial losses.
- Bitcoin is a relatively new asset class: Its long-term performance and regulatory landscape are uncertain.
- Investing in Bitcoin requires a strong understanding of its technology and underlying principles: Do not invest if you don't fully understand the risks involved.
Before making any investment decisions:
- Conduct your own research and due diligence.
- Consult with a qualified financial advisor who understands your individual risk tolerance and investment goals.
- Only invest what you can afford to lose.
This article does not:
- Recommend buying or selling Bitcoin or any other cryptocurrency.
- Make any claims about the future performance of Bitcoin.
- Provide investment advice or guidance.
By reading this article, you acknowledge and understand that:
- You are solely responsible for any investment decisions you make.
- Investing in Bitcoin involves inherent risks, and any potential losses are solely your responsibility.
This disclaimer is provided to protect you and ensure that you understand the risks involved before investing in Bitcoin or any other cryptocurrency. Please invest responsibly and seek professional advice if necessary.
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