At the beginning of 2020, Bitcoin was at US $ 8000. In December 2020, bitcoin prices began to surge again and broke through US $ 20,000.
The spike continued until the beginning of the year as bitcoin price passed US $ 50,000 for the first time
“When the price of bitcoin spiked in December 2020, everyone was afraid of losing the lucrative benefits Bitcoin was giving. So there is a huge demand from institutional and retail investors all over the world, this is causing a huge spike in prices. bitcoin, ”said Shivam Thakral, CEO, BuyUcoin.
But Bitcoin's fantastic rise will eventually go down.
The price of Bitcoin, which has reached $ 50,000 and above, should now go down and play around $ 40,000.
This decline makes Bitcoin holders who buy at high prices confused about whether to sell or maintain ownership or hold Bitcoin.
The answer, of course, depends on the risk management that is being carried out, but for those of you who believe and believe that Bitcoin is fundamental, choosing to save or hold can be an option.
The Importance of Holding Bitcoin or Other Crypto Assets
Reach Big Profits
This is not without reason, basically Bitcoin is a volatile asset and often experiences price fluctuations.
For example in 2017 the price of Bitcoin touched close to $ 20,000, then in 2018 it fell to the range of $ 8,000- $ 9,000.
The decline and fluctuation of the Bitcoin price continues to be felt and at the end of 2020 it shows fantastic hot points and increases. The king of crypto assets skyrocketed to $ 40,000- $ 50,000.
If you kept your Bitcoin from 2017 and sold it earlier this year, then you will definitely make a big profit because of the patience you have.
Yes, luckily it holds Bitcoin. The largest cryptocurrency in the world has provided a return of more than 300% in 2020.
Also, there is such a thing as price fluctuations that can make this Bitcoin shop profitable.
Price fluctuations are special price changes caused by market mechanisms whose changes are in the form of an increase or decrease in the value of the price itself which can be depicted graphically.
Bitcoin's price fluctuations are caused by a variety of things, from supply and demand laws, media sentiment, superpower regulations, to big investors.
This year we have seen the demand for Bitcoin increase, even though the number in the world is getting limited. In addition, large institutions and investors began to entrust their assets to Bitcoin. This is what made the Bitcoin price skyrocket this year.
From the one-year Bitcoin chart taken from Coinmarketcap, it can be seen that Bitcoin stored in three months from October 2, 2020 to January 1, 2021, has an upward graph, meaning that there is a tendency for Bitcoin to increase. price.
So if we buy Bitcoin in 2017 and sell it in early 2021 there has been a pretty decent increase from time to time even though it has experienced deep corrections several times. It can be seen that the price of Bitcoin has skyrocketed very sharply, this shows if the longer we store Bitcoin, the bigger the profit. what you get can be even greater because of price fluctuations, half Bitcoin and of course inflation from fiat currencies such as the US dollar.
