ARE BITCOIN PREDICTIONS COMING TO LIGHT?!
THE DROP.
So first of all as we all likely know, Bitcoin has fallen exponentially since the beginning of June 2021. The price was sitting steady at around £40,000-£42,000 and seemed to only gain momentum, however between Monday 10th of May and Friday21st of may the crypto dropped to an eye watering £26,000.
Here is a fantastic article I read explaining the drop and reasons for it https://cb.run/c8Os give it a read for a more in depth understanding.
This YouTube video helped me understand the reason for the drop youtube video explaining the drop
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SO, THE REASON YOU CLICKED, WILL IT GO BACK UP ??
First of all in late july Bitcoin had a some what expected rise in value, now it seems to be dipping again…. But to what end ?
So there are a lot of questions being babbled about this topic, will it recover?, when? should you fold and pull your funds out?
The truth is Bitcoin alone has crashed before, granted not to these percentages. Bitcoin was the first real crypto currency and in my opinion the equivalent to say Amazon being the first of its kind as well as FaceBook, Google and many more. It seems to me at least that as a general rule, "first to market often rules".
Bitcoin almost burst through that $40k barrier but didn't quite make it, I honestly believe it is only a matter of time before it bursts through and keeps on climbing.
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“At this rate of fall, Bitcoin is likely to see support at $40,000 [£28316.20] if the selling continues, and surviving this fundamental onslaught can set a new run that will create a new all-time high of $70,000 [£49,553.35] in the mid-to-long term.” said by Alexander Vasiliev in The independent.
Many high level investors and what we may call influential people has said they believe that bitcoin will rise to all time highs, here are just a couple examples.
Billionaire venture capitalist and Bitcoin investor Tim Draper is sticking to his prediction that Bitcoin will reach £180,000 by the end of 2022 or early 2023 despite the cryptocurrency’s scary fluctuation in value.
Max Keiser, is an investor, and host of the Keiser Report predicts £72,360,00 Bitcoin in the short term, but £289,440,00 in the long-term.
My personal opinion and how I plan to proceed.
I believe that bitcoin will rise again, possible at an unprecedented speed. As a result of that I will be adding to my personal portfolio, not liquidating.
I store all of my crypto on a hard storage key, this way I own the coins fully, also it is 100% safe from hackers. to learn more about hard wallets visit here ledger crypto keys
I am taking it as a chance to buy what I have seen to be possibly a very large dip and as we say "BUY THE DIP" bigger the dip bigger the kick no? But you should proceed how you see fit ! GOOD LUCK.
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