Experts suggest 'SIP in Bitcoins' to get dollar-cost-averaging
Bitcoin extended its eye-popping rally, approaching $19,000 for the first time in almost three years. Interestingly when there is a movement in Bitcoin price, a similar movement is also witnessed in other top cryptocurrencies, for instance Ethereum also has been witnessing an upward trend since Q1 2021. The upswing in Bitcoin has soared the volume of trades. The crypto is attracting new investors as well.
"The past 15 days have seen a meteoric rise in the value of Bitcoin, with the price momentarily crossing $18,000 on November 17. At ZebPay, we have seen a 46% increase in BTC-INR volumes from November 5-17, and a 48% increase in the number of unique customers trading BTC. The price spike is also attracting new, first-time investors in Bitcoin. ZebPay's app downloads have shot up 98% in the past two weeks," says Vikram Rangala, Chief Marketing Officer at ZebPay.
What's interesting is our withdrawals have stabilised, adds Vikram Rangala. This shows that more and more people are beginning to see Bitcoin as a store of value and reliable long term investment, rather than trading for short-term gains.
Experts suggest 'SIP in Bitcoins' to get dollar-cost-averaging Bitcoin extended its eye-popping rally, approaching $19,000 for the first time in almost three years. Interestingly when there is a movement in Bitcoin price, a similar movement is also witnessed in other top cryptocurrencies, for instance Ethereum also has been witnessing an upward trend since Q1 2021. The upswing in Bitcoin has soared the volume of trades. The crypto is attracting new investors as well.
"The past 15 days have seen a meteoric rise in the value of Bitcoin, with the price momentarily crossing $18,000 on November 17. At ZebPay, we have seen a 46% increase in BTC-INR volumes from November 5-17, and a 48% increase in the number of unique customers trading BTC. The price spike is also attracting new, first-time investors in Bitcoin. ZebPay's app downloads have shot up 98% in the past two weeks," says Vikram Rangala, Chief Marketing Officer at ZebPay.
What's interesting is our withdrawals have stabilised, adds Vikram Rangala. This shows that more and more people are beginning to see Bitcoin as a store of value and reliable long term investment, rather than trading for short-term gains.