Can we take a minute to appreciate the fact that bitcoin hits $57k today

avatar

images-3.jpeg
Source

What a ride $bitcoin has been so far, i could remember vividly last year march when World health organizations announced covid-19 has a global pandemic, inflation sets in, then there wasnt significant economic growth, the GDP became shrinkled, dollar value significantly dropped. the cloud became darker and it seems there is no way, we started looking for ways to overturn all the downtimes, changing the cloudy storm into a brighter one, attentions were shifted to cryptocurrencies and kther digital assets.


Funny enough, $btc was sold for less than $4k then, i believed people holding the coins must be saying to themselves 'this is the best to sell' and for people like us who believed that there is tendency to be an increased demands for it in years time, which will trigers its price, we hold on to the coins not selling. This looks pretty ridiculous at the time, when employers are not paying their employess regularly, shops and offices are closing down, no jobs anywhere except if you are health worker.


For those that bear the heat and never fold or give-in to the increased pressure then, we're perhaps the happy one now seeing the bitcoin sold for $57k thats about 15 times what we had about a year ago.

Now imagine, how much $btc will be sold a year from now, as the trust in it now goes up day by day, leaving the door opened for further investors, as in the case of Gold which is the highest ranked by capital assets.

20210312_092020.jpg
Source
Based on transaction volume and amount of $btc withdrawn for exchange, the charts suggest bitcoin is on the bull run in few months or a possibly a year.


Bitcoin is not the only crypto, in fact there are hundreds of other cryptos, so its important to understand the crypto you want to consider and its function. First check the market capitalization, if the market capitalization is relatively small, there is tendency there will be higher risks investing in such. Even though no crypto is perfect. I will still suggest you don't invest more than you can bear, so that anything that happens you won't be on the losing side.



0
0
0.000
2 comments