The Future of Bitcoin - Everything You Should Know About Everything including Music, celebrities, and your mentors

Monday, February 8, 2021

The Future of Bitcoin

The Future of Bitcoin


Today, let us discuss Bitcoin as much as we can as it has been one of the cryptocurrencies that have proven itself after such as long time as not only the largest, but the most reliable as it is been used in some countries currently as the exchange method.

When Bitcoin first started many years ago, there were some people that were skeptical as to where the market was headed. I could remember the first time I was introduced to Bitcoin and I ignored the conversation completely as I thought it was one of those investments that will start and crash after sometime.

I wished I had invested my little money in it then, today, I would have been probably the Elon Musk of my country, but that is by the way. Great investors have taken advantage of the Bitcoin market and it has been very profitable for each and every one of them as the market keeps rising and rising.

There was a time when people expected that this crypto will drop, during the lockdown but instead it kept on rising and people were wondering why the market took that turn.

There are several factors that affected the Bitcoin market at that point in time and I will be listing them, please follow it closely so that you will understand when to go into the market and when to run far far away from the market, so that you don't loose your money daily.

1. Numerous Investments

There were so many people investing into the market and this is one of the major influencers of the Bitcoin or any crypto market. The more the people investing the more the crypto keeps rising till it got to this point it is at the moment.

2. Alternate Source of Income

Some people were kicked out of their jobs and others could not operate in their businesses anymore as a result of the lockdown. where are they aupposed to get their money from? A lot of people started looking for alternate source of income and Bitcoin caught their interest and they came into the market and traded.

3. BIG INVESTORS!!!

You can see the likes of Elon Musk who placed a whooping sum of 1.5 million dollars into the Bitcoin market making the market rise. Big investors have influence over the market, but the risk is that they can pull off the market at anytime and this will affect smaller investors who are probably just testing the waters.

The funny thing about Cryptocurrencies is that people are trading and only a few really understands the market properly. Others just see it rising and put their money in it, when it is dropping, they remove their money and that is not a healthy way to trade. The best thing when trading is UNDERSTAND THE MARKET INDEPTH BEFORE TRADING!

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