Bitcoin rise and fall
There are millions of cryptocurrencies, but bitcoin is the currency most people are familiar with. This currency, unlike the dollar, the euro or the yen, is Not controlled by the government Bitcoin was flying high April 2021And access to All-time high at around $64,000. Three months later, the cryptocurrency has lost more than half of its value. Less than $30,000.
there Volatility attracts profit-seeking traders, But it also gets on the nerves of young investors who are just getting started. sWhat is the best time to sell bitcoin? How can you sell bitcoin at a high price? This Fliptronics video is a great way to start learning how to trade bitcoin for profit.
Understand the factors that affect the price of Bitcoin
To profit from a bull market or to avoid the next bubble, you must first understand the factors that lead to it Affect the price of bitcoin:
market volatility: Because of market volatility and the possibility of this happening unexpected eventsNo one can accurately predict what Bitcoin will do in the future. However, examining historical data can provide some insight into possible movements, and therefore when the time is right to sell.
Bitcoin Limited Offer: The current supply of Bitcoin is limited to 21 million coinsWhat will happen All sold out by 2140. Since the supply of bitcoin is limited, its price may rise if demand increases in the next few years.
Unfavorable publicity: Any breaking news about Bitcoin’s long-term safety, value, or viability Reduces the overall market price of the currency.
Integrating Bitcoin into New Payment Systems: Banking structures are key to their overall profile. Any consensus among users on how to speed up the network could boost confidence in bitcoin, driving the price up.
Each bullish run is set to coincide with the Bitcoin halving.
Why does BTC constantly find a new high within a few months after the halving event if it doesn’t?
Set your goals: Don’t make emotional sales
You need to respond calmly if you decide to sell your cryptocurrency or if you are considering a drop like Chance to buy more. Making emotional decisions, especially when trading, rarely produces positive results. So before you rush into the market, think about why you trade cryptocurrencies in the first place.
Or are you just interested in making a quick profit with short term trading? The answers to these questions can help you make the best possible decision. Rate the events
Is there any news affecting the price of Bitcoin and other cryptocurrencies? Fundamental news, rather than price action or rumors, can affectmarket mood. Actual events may damage prices during Sharp decline in bitcoin in 2021.
Buying and holding bitcoins is known as HODL استراتيجية strategy.
The The buy-and-hold approach is referred to as “hodling”. Buy-and-hold investors want to keep their assets for a long time to benefit from them Long term value growth.
Cryptocurrencies represent a great growth opportunity for traders using Long and short deals Often due to its highly volatile nature.
This expression, however, should not be taken literally; You should buy and keep bitcoins
Maximize your profits
The earlier you start selling, the faster you will get a return on your investment. However, keep in mind that sAnd let’s say bitcoin hits $100,000, some potential sales targets range from $60,000 to $100,000. If you want to be more careful, you can use the example below and start selling first, let’s say around $50,000.
You must know which one The percentage of your portfolio to sell and the percentage to keep To maximize your profits.
TheWhen you have an emotion-driven resource, you need to understand that. Traders’ emotions affect the market.
This volatility is exactly what attracts professional traders, who conduct complex transactions using High-power algorithms betweenmonastery accidental Usually they don’t have access.
Make a long-term commitment
Prices fluctuate rapidly from day to day, and sometimes inexperienced traders get fooled and go Panic when prices are low. Like any investment, making money depends on the price at which you buy and sell assets. If you sell when its price is higher than what you bought it for, you will make money.
For example: If you invested in bitcoin in early 2020 and sold on December 31, 2020, you would have made a profit of 300%. If you invested in bitcoin in early 2018 and sold on December 31, 2018, you would have lost 73%.
Bitcoin is very volatile, so the trick is not to panic and crystallize your losses by selling when the value inevitably drops. It’s the same for all investments.
Experts suggest that speculative investments, such as bitcoin, private ETFs, and alternative assets, represent no more than 5% of the total portfolio. It is also necessary to remember that investing in Bitcoin should not come at the expense of other financial goalsHow to prepare for retirement or pay off high-interest debt.
She was born in a city surrounded by seven hills in the southwestern part of Nigeria. Legendary Ibadan. I have a bachelor’s degree in physiology from prestigious Ladoc Akintola University of Technology. However, drawing on my affinity for writing since childhood, I launched my own business as a freelance content writer in 2019 and earned a degree from Hubspot.
She has since written for many companies spanning a wide range of industries, including digital marketing, franchising, and real estate. Franchise123 is described by me as one of their best
the book. Content marketing is very powerful and I love bringing that magic to business. When I’m not writing, I’m composing songs. I enjoy practicing my creative skills.
my motto? “The quality of your life lies in how you help others live.”.