Starting this week above $60,000, Bitcoin can easily equal its highest value ever. At over $63,000, Bitcoin hit its highest value back in April of this year. But, the way it looks, it could get back there with this new Bull Run that might prove quite a few Bitcoin advocates right.
But what is all this telling us? There are several things we can learn from watching Bitcoin’s patterns over the years.
Bitcoin Annoys The Bears
In a buying strategy where the investor waits until the value goes down to buy, the Bears are annoyed that the dips don’t last long enough. But, unfortunately, by the time they buy, Bitcoin has already bounced back higher than it was.
The Bulls are enjoying the rise because several financial experts have predicted that Bitcoin will hit $100,000 by the end of this year. Anyone holding Bitcoin right now will see it coming, but they will wake up to a beautiful surprise come 2022.
ETFs Aren’t Necessarily An Investor’s Best Friend
With all the talk about ETFs, the action on Bitcoin lit up. But that’s misleading. While the value of actual Bitcoin continues to increase, ETFs designed to protect investors come with some negative features that make it hard to enjoy the same profits as investors holding Bitcoin.
“For investors, new Bitcoin ETFs might be more costly than purchasing cryptocurrency directly.” @Schuldensuehner
Bears Will Have Their Day Again
Buying low and selling high is the name of the game when it comes to stocks. And even though Bitcoin has a different nature, the same strategy rings true. Nothing rises in a straight line, and Bitcoin is no exception.
So, the Bears will have another day. But, they won’t get it for long, and they need to be ready. Literally, sitting on the edge of their seats at 2:13 A.M., lighting will strike for them, and they need to be in motion because, by 3 A.M., the fun will be over again.
Get in on Bitcoin…