Avoid being burned down in the Bitcoin (BTC) fire

Bitcoin is a volatile cryptocurrency - but aren't they all? Click here to learn how to avoid being burned down by the Bitcoin fire.Bitcoin is on the rise again - but is there anything new? Bitcoin has risen by as much as 80% this year, and it is only April now

Bitcoin is a volatile cryptocurrency - but aren't they all? Click here to learn how to avoid being burned down by the Bitcoin fire.

Bitcoin is on the rise again - but is there anything new? Bitcoin has risen by as much as 80% this year, and it is only April now. It far exceeds the 7% increase in the S&P 500 index, and no matter where you look, experts believe that we are entering a bull market. But the rise of Bitcoin is logical, and the fall of Bitcoin is also logical - before people start to burn, a coin will continue to burn for a long time. If you are not careful, the burn will sting like an unsuspecting wasp all summer long. Below, we will explore why Bitcoin has become popular and how to avoid burns.

Bitcoin Burning Successfully in 2023

Bitcoin is the elder of the cryptocurrency world - people who invested $100 when Bitcoin was priced at $3.19 in 2012 will now have over $1 million in their bank accounts. There may never be a coin that can generate the same astronomical trajectory as Bitcoin and Ethereum (another cryptocurrency OG).

Over the years, individuals investing $100 have noticed a sharp increase and decrease in investment value based on multiple factors. Recently, the value of the token has exceeded $30000 for the first time since June 2022, which experts attribute to the link between interest rates and the uncertainty of a centralized economy.

But as the Federal Reserve slows down interest rates that have caused a crisis in consumer life, returns on technology stocks and risky assets have increased. Due to the gradual decrease in interest rates, Bitcoin investment increased by 78% per week in 2023.

From a historical perspective, other factors can affect the volatility of Bitcoin's value. Usually, like all coins, media can have a significant impact on the rise and fall in the value of cryptocurrencies. The overall sentiment of the market compared to Bitcoin can also affect its value. Positive news and events related to Bitcoin can generate bullish sentiment, while negative news or events can generate bearish sentiment.

At present, people generally believe that Bitcoin is on the rise, but this is a good recipe for the booming investment of Bitcoin - do you believe in positive media dissemination and evidence of value increase?

Have you missed the boat of Bitcoin investment?

Okay, this may be the secret to the right investment timing, as an event in the near future will push the value of Bitcoin to a new level - halving it.

Within approximately 12 months, Bitcoin will halve the number of coins that can be mined for free, which means there won't be so many coins in circulation. The software running on Bitcoin is programmed to regularly halve. The next halving should occur in April or May 2024, reducing the mining reward for each transaction from 6.25 Bitcoin to 3.125 Bitcoin. As fewer tokens enter circulation, their value increases.

Interestingly, recent news about Bitcoin's success, coupled with distrust of centralized banks after the collapse of multiple banks in the United States and Europe, has led small investors to want a piece of the pie. The number of wallets holding 0.01 Bitcoin (approximately $300) has increased by 3%. Experts predict that the current value will remain around $25000 to $35000, but after halving, based on previous estimates of halving, it may increase to over $150000. Those with $300 in Bitcoin in their wallets may see their investment increase fivefold.

Now, the question is, is this the best time or have you missed the opportunity? Admittedly, the value of tokens is slightly higher compared to the beginning of this fiscal quarter, but this does not mean that this is not the best time, especially if the forecast of value increasing to over $150000 comes true.

Alternative Coins Worth Exploring

Some people are intimidated by the value of Bitcoin, especially small investors, who find it more attractive to have seemingly more things and are more interested in long-term gaming. The cryptocurrency market is filled with coins waiting to shine, and experts suggest that you explore and research some promising investments. The following are the five companies with the highest ratings in 2023 and their current values as of April 19, 2023.

  • RBC -0.490363 USD
  • Dog Coin -0.09 USD
  • Caldano - $0.42
  • Dadi 2.0-1.39 USD
  • Avalanche -19.30 USD

However, during research, you may find that most websites recommend investing in Bitcoin. If you plan to invest $300 in anything, it would be unwise to consider an investment that you know will increase significantly, even if it is not $150000, beyond a token that may take several years to double your investment? This is where the cryptocurrency risk factor lies. Estimating the future of coins is tricky.

Bitcoin must be very popular now. The value remains stable, but as the market prepares to halve, the big fire slowly burns in the background - this becomes apparent when you consider how many small investors are taking a share. It is crucial to study tokens and what external factors may affect the result of halving. For example, negative news may greatly hinder growth.

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