13.8 C
London
Thursday, July 18, 2024

What do with your Bitcoin as it Enters a Bull Market?

Must read

- Advertisement -

Many crypto experts believe that we have finally turned the corner–that things are once again looking up for crypto markets. After a long and deep slump, Bitcoin, and cryptocurrencies more broadly, have begun to see some gains.

Here we break down the price situation and why many think we are entering a bull market, and then some tips on what to do if you agree, or not, with that forecast.

The Current Price Situation

Every investment experiences ups and downs. Top blue chip stocks are not exempt from having poor days. This is why we at Polish News have a long-term approach as part of our investment strategy for bitcoin. You don’t want to buy or sell in a hurry because you risk succumbing to the herd and missing out on potential gains.

Bitcoin is known for its price volatility. It has gone through some impressive roller coaster rides that have left us all with our jaws dropped–either at the speed of its climb, or the speed of its decline.

After a long period of price decline, there are some signs that the price could be on the upswing again. The price of a single Bitcoin reached record highs late last year. In November of 2021, the price of a single Bitcoin was more than $64,000–that is about double its price four months prior in July of 2021.

However, this also marked the beginning of an extended period of price decline. This high of $64,000 in November had fallen to $18,948 in June of the following year. This type of price drop is no joke and even had some people talking about the end of cryptocurrency.

- Advertisement -

However, for the last few months, we have begun to see some steady price increases. Bitcoin is now trading around the mid $20ks. This represents a roughly 15% increase, which has been achieved steadily over a few months. This bodes well for the star crypto, but is it enough to say that we are out of the bear market?

Decide What You Think

In order to decide what to do with your Bitcoins, you will have to decide how you analyze and interpret the data presented. There is no one person or machine that can predict the future of any asset. We can talk about possibilities and probabilities, but nothing is ever certain.

Here are some tips on what to do with your Bitcoins that you can employ depending on how you interpret the current market outlook.

If You Think This is Just the Beginning

If you are a crypto optimist at this moment, it could be the perfect time to double down on your investment. After all, if we are currently at the floor, and you think it will go up, that means there is a huge sale on Bitcoins, and you would be able to trade them for more fisat currencies in the relatively short term.

If You Are Not Sure What Will Happen

Sometimes we look at the tea leaves and come out agnostic. If you are not sure about the outlook for the price of Bitcoin, you can find somewhere to put them without necessarily gaining or losing Bitcoin. If you enjoy gambling, online casinos often accept Bitcoins, and this is a great way to either buy them or get rid of them.

For example, check out the slots recommended by Vegas Slots Online. You can make a deposit or play free slots. These are available both on your mobile device and your desktop across the United Kingdom. These experts have reviewed more than 1,200 slots, so if you are looking for a new online casino, this is the spot for you.

If You Think This is The Ceiling

However, if you think this is the ceiling for the price of Bitcoin, it might be the time to spend them while they still have this value. There are big companies, like Microsoft, that are now accepting Bitcoins and other cryptocurrencies. If you predict your BTC will be worth less in a few months, it is probably time to spend them directly. That is, if you do not want to trade them out for fiat currencies.

https://pixabay.com/photos/blur-chart-computer-data-finance-1853262/

More articles

- Advertisement -

Latest article