Bitcoin has officially reached an all-time high of $59K. Its market capitalization is now over a trillion dollars. The fact is that those of us who know nothing about cryptocurrencies are getting excited when we learn that thousands have been harvested in recent days.
If you want to move into an investment, it is cheaper and easier than trading stocks and options.
FSix years ago, when I first analyzed the cryptocurrency Bitcoin and recommended it to some, many people said it was a scam, and I thought it was crazy. It then had a market capitalization of just over $ 6 billion. This year, Bitcoin became the first crypto to earn a trillion dollars.
Over the past few years, the lucky few have had the opportunity to book high gains of up to 16,377% – a rare history of those who were able to turn $ 1,000 into $ 164,770.
As mentioned above, at about $ 59,000 each, Bitcoin is still a clever strategy to double your money to 10x or 20x. Over time, as more and more people try their luck, the event may turn out to be a catastrophe.
Gold has always been. The era of what was once considered a safe haven seems to be coming to an end.
Hedging is a good idea, but no one wants to do it with gold that has fallen into a bear market pattern. When the pandemic hit the United States in March 2020, gold prices fell again after a slight rise. Then the yellow metal is not doing its job now.
Last year, the United States spent $ 5.3 trillion on coronavirus relief, more than $ 27% of our annual GDP, but that did not significantly affect the price of gold.
The situation in the U.S. stock market has changed significantly this week. However, few investors may have noticed these signs. After a month of market fluctuations, the S&P and Dow jumped simultaneously, hitting all-time highs. For the first time in history, the Dow jumped to 33,000
Most people are thankful for Biden’s $ 1.9 trillion U.S. rescue plan, which will soon create a massive surge in the economy and pocket many Americans in the crowd.
Now, if you are a gold digger, many other things are hard to accept. It’s even more challenging for you to buy that Bitcoin has taken over the job of gold.
This is because gold has a history of thousands of years, while bitcoin has existed for a decade.
People have used horses for thousands of years. Within a decade, cars had eliminated horses, as the saying goes!
Then crypto has become your question mark!
If you have not yet taken your first step in this burgeoning market, there is no better time to do it. One reason for this is that as of January 2021, there are more than 4,000 cryptocurrencies in existence. Many are worthless. In the name of this, brokers and advisers are flooding the internet. Without a phone number or an office to ask questions about, or a certificate to show off, this cryptocurrency system, which continues to buy and sell only on digital platforms worldwide, has become a headache for economists and a secret money-making platform for intelligent greed.
For example, Bitcoin was the story of the highest investment in 2013 and 2014.
They have been at the forefront of developing currency exchanges and investment funds, driving Bitcoin into the headlines. At the time, Bitcoin was trading at $ 90. Over the next five months, Bitcoin rose 1,192 percent to $ 1,163. People across the country made millions of dollars. Some were even millions of banks. As a matter of fact!
Bitcoin’s popularity has grown due to its resistance to inflation, which is expected to become a more widely used payment method. But skeptics argue that its wild price rise could keep many companies away.
The market was buoyed when the electric car maker’s investment raised Bitcoin to a record high of $ 58,332.36. Still, the currency fell slightly after billionaire CEO Elon Musk expressed some skepticism on Twitter.
Many tons of cryptocurrencies are benefiting from this massive cash flow. Although many share the same DNA as Bitcoin, their total is very small.
As the world looks back on our time’s most revolutionary technological advances, two of the most important of these cryptocurrencies should be seen as examples.
- ETHEREUM (ETH)
As of March 2020, the ETH is trading at $ 130.
Today, a single shot costs more than $ 1,825. That’s about ten times more in a year. If you invested in ETH five years ago, a 1,000 investment would be worth more than $ 800,000. This is a very rare and unusual 80,000% gain.
- LITECOIN (LTC)
LTC was the first crypto to launch with Bitcoin in 2011. Today, a litecoin costs $ 201.11. Five years ago? It was trading below $ 5 that day. If you had bought $ 1,000 worth of Litecoin in 2016, you would have $ 34,200 in your pocket today.
There is no such thing as intellect when you think of yourself, and you have to test whether it exists today.
As Bitcoin soared from close to $ 5,000 last March and soared to $ 60,000 on March 13th, you may feel that something is missing now.
But it would be best if you were 100% focused on allowing your stock portfolio winners to rise higher and continue to know how to protect those gains when the market finally turns around.
The price of the world’s largest digital currency rose 8 percent to $ 59,274.13 a day earlier. That brings the total value to $ 1.15 trillion. (Coindesk Data Show).
Prices began to rise following further indications that institutional investors and large corporations were coming to cryptocurrency.
For example, Bitcoin-based investment firm NYVDG announced on Monday that it had raised $ 200 million from a group of investors, including Wall Street Titans Morgan Stanley, New York Life, billionaire financier George Soros, and Soros Fund Management.
Insurers on the company’s platform now have exposure to bitcoin worth over a billion dollars, which can be “an example of accelerating institutional bitcoin adoption”. The company’s announcement comes a month after Tesla revealed it had bought $ 1.5 billion worth of bitcoin, following in the footsteps of smaller companies such as Microstrategy and Jack Dorsey’s Square.
It remains at full strength this year as well.
The latest US stimulus package worth $ 1.9 trillion has now brought more money to market. The arrival of this new paper money reduces the value of the already popular dollar. This happens naturally. If the dollar had depreciated 13% of purchasing power against foreign currencies last year – it would have continued and would have had accurate results. This means that your purchasing power is declining rapidly. This means that following the same policy is a big mistake. Winners are said to be added quickly.
These are just some of the goal-setting shareware that you can use. No strategy is perfect. Any investment always carries the risk of loss. Some fail along the way.
But the coming months and years are likely to be more exciting and rewarding than anything we’ve seen before. There can be no doubt that peer-to-peer transactions and digital currencies are echoing a revolution that removes intermediaries and transfers power into the people’s hands. Any Crypto investment is a risky affair, play responsibly, lucky ones mint the fortune!
(My safer recommendation, there is a Bitcoin tracking stock whose symbol is GBTC, which trades around $52; which moves in parallel to Bitcoin).
Let me conclude, nothing is guaranteed, but the potentials are enormous.