Why Long-Term Bitcoin Holdings Can Be Profitable During Bitcoin Drops!
How recently have we seen the price of Bitcoin go to all-time highs and also cross all the previous records and all-times. After that Bitcoin price experienced a sharp decline of 3.16%. Even in the span of a day, Bitcoin price has dropped from a high of $72,504 to $68,379. As we have seen quite a downward trend in the price of Bitcoin over the last two days and with that the price of Bitcoin has come down a lot. For example, yesterday suddenly the price of Bitcoin dropped a lot and its price dropped to around $64500. However, Bitcoin price is currently trading above $67600.
Chris Marszalek is a crypto expert as well as the CEO of Crypto.com. Recently he gave a message to Bitcoin investors. And with that he presents his views on the current state of the cryptocurrency market. Addressing all those who have bitcoin investors, he says that investors should take a long-term view of bitcoin holdings. Such advice is timely and can be called a decision. Because Bitcoin, as well as other leading cryptocurrencies such as Ethereum , XRP, and Cardano suffered significant losses.
The ongoing bearish trend has pushed down the price of Bitcoin as well as other altcoins. So now Bitcoin holders should sit in the patience regime. Because Bitcoin has lost 3.16% from its 24-hour high of $68,379 at $72,504 in the last few days. The drop is part of a more significant decline in the crypto market. which affected many digital assets. However, events such as spot bitcoin ETF approval now and future bitcoin halving events will bring a lot of positives for bitcoin and they will help the price of bitcoin to increase significantly.
We have seen the price of Bitcoin reach an all-time high in the past few days and witness this history. Although even this price after some time the price of Bitcoin will be much higher. Many are predicting that the price of Bitcoin may exceed $100,000 this year or next year. The current temporary drop, or Bitcoin drop, can be considered a constructive correction. Although the price of Bitcoin has crossed past all-time highs in the past few days, it can be attributed mainly to the arrival of Spot Bitcoin ETFs. Although the BTC ETF poses a supply-side threat, it has a significant impact on the cost of Bitcoin. This is what the ceo of crypto.com thinks.
But to be honest there are many investors in the market who do scalping i.e. short term trading. However, when the price of Bitcoin becomes unstable, such trades often bring losses. Hence such assets should not be traded in short term but should be held for decades. Investors should proceed with this view. has quite an impact on the long-term role of cryptocurrencies. But an important point here is that since we know that bitcoin is likely to be halved on the 20th of next month, then the reward of bitcoin miners will be halved and bitcoin production is not reduced and hence an upward trend in bitcoin price can be seen. And if Bitcoin can be held till that time, then it must be said that a good profit can be obtained from here.
For example, before the Bitcoin halving, the price of Bitcoin reached the highest price in history and it is expected that the price of Bitcoin may go above one hundred thousand dollars in the future. Many crypto experts think so. If the next bitcoin halve or longer can be held then there remains a good profit potential. And it will be much more profitable in long term plan than daily profit.
This is the good time for investing in bitcoin. BTC halving is very near.
Right. This is a good time to invest in BTC. Thanks
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You have given a very nice explanation about Bitcoin holdings. We have a lot to learn from here. thank you I hope to enjoy many more beautiful things like this in the future.
Thanks for your nice feedback
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It is always advice to take advantage of halving of crypto,very informative article
Gee brother you are right, first we need to understand about cryptocurrency market. If we buy and hold Bitcoin at a low price, we will be very profitable in the future. I think it doesn't apply to all coins. Because a point depends on the community.
You have share a very informationfull content, i read your post & earn many information.
Long-term Bitcoin holdings can be profitable during Bitcoin drops. I had no idea about this topic before. You have presented it beautifully. thank you