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.