Those holding bitcoin are showing profits according to research studies
Bitcoin prices have been a point of concern for many people. A few months ago we were seeing the price of bitcoin reaching all-time highs and since then the price has been dropping, with only slight recoveries being seen in the market. For many bitcoin investors that got into the market this year, this could have potentially resulted in a major loss of funds as well. However, according to recent research studies that have been presented within the news, this may not be the case.
According to this research, most people that are holding bitcoin are actually showing a profit on their accounts, despite the recent drop in price. This shows that bulk of the major bitcoin investments that are being made are likely to be held for long periods of time, or are being bought during the dip of the Bitcoin price. Either way, research shows that many are practising restraint in their bitcoin investment, resisting the urge to panic sell and this has lead to major profits for most investors. What are your thoughts on this research study?
Sure . Consider people who bought bitcoin when the price of bitcoin was around $7000 last year during the covid-19 pandemic. If such persons were able to hold up till now , they would be billionaires by now , even selling at $20,000 price value is still a huge profit.
The fact is that bitcoin as a coin is a profitable one which people trust a lot with all their heart because of it's large market Capitalization and limited supply. There is never a time that is late to enter into bitcoin investment. Those that bought bitcoin at the price of $33k still made their profit when the price enter $50k ,those that bought at $50k made gains at $60k .
The only challenge is the gas fee associated with bitcoin transaction but all thanks to cryptocurrency exchange sites where one cannot pay gas fees.
Hmm, many those who are shoeing profits on their account are basically for the users or investors who invested earlier when the price of BTC was below $20,000. Especially during October-November period. During that time the price of BTC was below the mark which I stated. And maybe that's when the investors took advantage of it.
It is mostly a good thing to follow if you are performing trades between bitcoin and other altcoins in binance like trade the pair ADA and bitcoin as bitcoin price increasal or decreasal can affect your trades but also if you are a bitcoin collector, otherwise if you are trading the pair ADA and monero or you are a monero collector you will not focus on price of bitcoin generally except if you are cryptocurrency news follower.
For new investors who buy Bitcoin at a price of $60k and sell after the price drops to $50k then there is a capital loss, but for old or experienced investors it's not that they panic or practice refraining from selling their Bitcoin, but they believe that Bitcoin investment in the long term will be very profitable.
The value of Bitcoin dropped drastically a few months ago. This was due to a major crypto fluctuation that occurred in the crypto market a few months ago. However, it is quite interesting to see that Bitcoin and many other crypto coins made a remarkable recovery after that crash, and I believe that the price of cryptocurrencies will reach another peak level in the future. I am not a big fan of holding Bitcoin. This is I prefer trading it on daily basis or even hourly basis. Trading bitcoin is far more profitable than holding it.