How to Win Big in 2021’s Crypto Bull Run
Things are certainly heating up in the cryptocurrency space in 2021 as we see the price of Bitcoin and other cryptocurrencies continually surging upwards already with the prediction that Bitcoin will reach $100,000 or more by the end of this year.
This presents an opportunity once every four years in order to generate significant amounts of revenue, with the big question being how to win big in 2021 crypto bull run.
This guide takes a look at that question and breaks down how big 2021's bull run will be, why bull runs are so special, the causes of bull runs, and a few ways of winning big this year.
How Big Might 2021’s bull run Get?
If we look at the historic growth of the price of the cryptocurrency market throughout the previous two bull runs we can see that there has been a significant increase in the value of Bitcoin and almost all altcoins in both cases.
Analysts predict that in this bull run the same will be true and that although before the same huge growth in the value of cryptocurrencies this year and in 2020, that by the end of this year that growth will be eclipsed.
Many analysts are predicting that by the end of 2021 that a price of $100,000 per Bitcoin could be reached, with many other analysts saying that this is in fact a conservative estimate.
Why are Bull Runs Special?
Bull runs occur once every four years in the cryptocurrency market and during this year-long period of time we see a huge amount of growth in the price of cryptocurrencies.
Because of this, it is a great opportunity for traders and investors to be able to put the capital in the cryptocurrency market and see it increase by many multiples of the space of 12 months.
For much of the rest of the time that the cryptocurrency market is operating outside of bull run years, the price is either going down or is remaining fairly steady and therefore when there is a crypto born it is a unique and significant advantage.
What Causes a Bull Run?
Bull runs are caused by the Bitcoin halving event that occurs once every four years, with this being a part of the mechanism built into Bitcoin that ensures that it is a deflationary currency.
What this means is that every four years the amount of Bitcoin that is released each day to Bitcoin minors is halved, with this having a direct impact on the scarcity of Bitcoin and therefore the price.
The most recent Bitcoin halving that took place was in May 2020, and since then we've seen a significant increase in the price of Bitcoin and or the cryptocurrencies.
How to Win Big in 2021’s Crypto bull run
Use Covesting to Partner with Pros
Well it's true that investing in almost any cryptocurrency that you will generate profit, true professional investors and traders know which assets to select in order to maximize profit.
Therefore using a tool such as Covesting in order to directly partner with the top performing traders and investors in the market is one of the best ways to enhance the opportunities that are already present in 2021.
The best place to be able to Covesting the cryptocurrency market is PrimeXBT's Covesting module, with PrimeXBT itself being an innovative trading platform that manages up to $6 billion of global trading each and every day.
Another good way of ensuring that the outcomes of 2020’s bull run are optimal is to diversify investments this year and to make sure that many different assets are held.
By doing this it means that the risk of anyone asset dropping in price is reduced as well as the likelihood of investing in an asset that has significant growth.
Diversification is one of the staple strategies used by professional investors and traders and is an important consideration for this year’s bull run.
Use Strong Trading Platforms
The use of strong trading platforms is an important way to make sure that the best outcomes possible can be achieved in 2021.
This means using platforms that have strong trading engines and that have high-security, with PrimeXBT being a good example of this, having a trading engine that can execute up to 12,000 trades per second reliably, as will is never been hacked.
The reasons PrimeXBT never been hacked is the implementation of a range of bank-grade security measures on the platform such as mandatory Bitcoin address whitelisting and hardware security modules with rating of FIPS PUB 140-2 Level 3 or higher.
Selecting platforms such as PrimeXBT to trade with during a bull run is a better way to ensure the best results possible this year.
2021 is shaping up to be an exciting year in the cryptocurrency market for traders and investors and it's important to give consideration to finding ways to optimize the outcomes that occur this year.
Three ways of doing this by using Covesting, by diversifying investments, and by using strong trading platforms such as PrimeXBT.