What is Next for Bitcoin, a Pump or Further Dip?
Last year was one of the most significant years in crypto history, but what does the future hold?
Some significant events are; Bitcoin hitting new all-time high multiple times growth in the adoption of crypto by substantial companies. Just like Bitcoin, Ethereum also reached its own all-time as well. Countries like the United States have shown increased interest in setting up new regulations for cryptocurrencies.
Overall, there is more interest in crypto now than there ever was. It is one of the most discussed topics in the financial world and popular culture, thanks to influencers like Elon Musk and many other social media users.
Bitcoin’s Future Outlook
Bitcoin is a benchmark for another crypto market because it is the biggest cryptocurrency by market cap and has maintained that status since its inception. Other markets are following the Bitcoin trend.
In 2021, bitcoin witnessed ups and downs; towards the end of the year, it witnessed a new all-time high when it reached $68,000. This record high value was preceded by a previous $60,000 in April and October. Bitcoin also witnessed a tremendous drop in the summer when it fell below $30,000 in July. To sum up 2021, I will say it is a year of immense volatility. As usual, ensure you invest only money you can let go of.
This brings us to the question What is next for Bitcoin, a pump or further dip? From a professional point of view, I will say both; expect to witness a pump and a deep; it’s only a matter of when.
As the time of either the rise or the dip may not be well known to any, it is rather best to prepare before hand by getting your coins in place. Get started by using a BitQT wallet today. The platform provides secure end to end transactions with speed and accuracy.
What You Should Know
If you are new to crypto investment or a professional looking to take your investment to the next level, always have it at the back of your mind that volatility is average and is a deciding factor to how much you can earn and how much you can earn can lose. So, you should keep your investment to less than 5% of your total earnings.
So, before you invest, dont allow the current pump price to influence your decision; at the same time, dont also let a sudden price increase change your long-term investment strategy. And most importantly, dont rush to invest in crypto just because you see the price rising. Ensure you have a financial plan and then always stick to it. Let your preset financial plan be the foundation for all your future investments.
The Future of Cryptocurrency Using Speculative Analysis
The use of speculative analysis is not accurate, but it is one of the few ways we can ascertain if crypto will pump or dip shortly. Using this method, we can only speculate on the value of cryptocurrency; nobody, not even the best experts, can precisely predict the value in the coming months and years. Using speculative analysis to predict the value of crypto is still new to Crypto but has been used in the stock exchange market. Speculation use price history to evaluate the price. History, in this case, is the basis of prediction.
Final Thoughts
Finally, the 2022 crypto market is going to be influenced by different factors like increased adoption, more government friendly policies, and newer crypto-related innovations. Apart from these factors, the crypto market is going to be very similar to the previous year, with lots of pumps and deeps.
Last year we witnessed series of ncrypto downturns now tagged as ‘crypto winter’, and we have witnessed all time highs, these factors should not influence your investment decisions. As a professional you should be able to manage the risks and make profits inbetween.