Should You Still Hold Bitcoin?
Assalamu Alaikum
How are you? By Allah's grace, I'm doing very well. Today, the topic I want to discuss is holding bitcoin.
Finally you can see that Bitcoin has touched its all-time high at 72 thousand. Because there are a lot of bulls at work in the market, I would tell those who are waiting or holding here to hold. Because currently the market is going very positive. A big reason for this is that the hype that is currently driving the market is the next halving of Bitcoin. Bitcoin's bull run has started due to some reason. The first reason was the Bitcoin ETF approval and due to this we saw a major rally up to 45,000.
Although the current rally is also largely due to Bitcoin ETFs, there is another event that is also a big reason for Bitcoin's halving in 2024. It will start from next April. So at that time the reward per block of Bitcoin will be from 6.25 Bitcoin to 3.12 Bitcoin. This amount will be given as reward per block. This is the main reason why Bitcoin is pumping so much in the current market. There is another saying in the market but buy the rumor sell the news you have to buy before this event comes here and you have to get out when the event comes around. As it happened here during the ETF news, the ETF went from about $50,000 on the news day to $38,000. The same thing is happening here and I think BTC could hit close to $100,000 in the next few weeks or the current speed in the market if it continues continuously would be a good selling area.
Today's discussion concludes here. I hope you've found it interesting. Please share your thoughts on today's topic. Prayers for everyone. May everyone be well. Amen.
I think it is foolish for small investors to invest in bitcoin, for small investors they should choose ALT Coin and invest, thanks
Well holding bitcoin should still guarantee more returns despite the current price since the halving is still to get underway.
Yeah.
This time it is hard to say whether we should hold or sell but again it depends upon the person and what goal we have at the moment so if the goal is met we can sell but if not then it is worth holding.
Yeah.
I think so.