This puts crypto investors in a hectic situation to debate over whether it is the right time to buy bitcoin or should they see it as a sell-off season.
This eventually pumped up the digital currency’s price and bitcoin reached a record US$64,000 in mid-April, only to face a drastic fall that limped the value in June and July.
We are familiar with the price fluctuations in bitcoin, but have we through how long it lasts? Yes, whether it is a price surge or a fall, both of them prevail only for a short span in the cryptocurrency market.
If you are planning to buy bitcoin for US$10,000, instead of investing them all together, split it into five parts and invest them once a week.
In the wake of the sudden surge, a panel of 50 bitcoin and cryptocurrency experts has predicted that the bitcoin price will continue to climb through 2021.
If we take the 2008 stock market crash, for example, a few investors bought and averaged out their investments when the BSE Sensex crashed to 15000 levels.
Bitcoin mining consumes a lot of energy and China rolled out a blanket ban on cryptocurrency trading in the country because of that.
If you have invested a lot in bitcoin but have very little knowledge, then it is better to withdraw the initial investment and put it on something that you are well-versed at.