Bitcoin has been a hot topic of discussion for the past year and rightly so. A single bitcoin was priced around $1000 in the beginning of 2017, but by the end of the year, the price had skyrocketed reaching up to $17,000. However, no surge happened after that as price started to drop, and bitcoin investment suffered because of it. People who owned bitcoins saw the trend, and started to sell off their bitcoins. This constant selling of bitcoins led the price to drop even more.
When the price reached around $10,000, a lot of people started to sell them off into the market. Price of bitcoin dropped even more, but seeing that price had dropped, a lot of people started investing in it once again. People that missed out on the boom the first time, came in with their money and actively started investing in the cryptocurrency. The price started to rise once again, and brought bitcoin investment back on the table.
The price fell and rose pretty randomly in the last couple of months, but since the investments have started to reoccur, the price rise has been pretty stable actually. It is slowly but surely surging – if you have been holding out on investment, then you should dive in right away because you never know what the future will hold for this particular cryptocurrency.
It was quite unpredictable at first, but now that the investments are rolling in on regular basis, it has become quite stable once again. A lot of major people who cashed out before have re-invested and are hoping that they would be able to make even more money off of the ongoing trend. The constant resellers dropped out during the original surge, so the people that have invested now are waiting for the price to reach its former glory. This means that they wouldn’t be reselling their stock anytime soon, which will automatically result in better pricing in the upcoming days.
If you have been involved in bitcoin investment, then this you must already know it, but diligence is required in order to keep your investment safe. This doesn’t really mean that you sell off your stock as soon as the price drops just a bit, it just means that you should know where your priorities lie. How much do want to make, how much you are willing to lose, how much are looking to invest even more. If you feel that the things might not be going your way, opt out immediately.
Things can get pretty ugly when it comes to bitcoins. Yes, it is stable right now and price is increase, but the same thing was happening last year when the pricing crossed $17000. No one expected a huge crash after that, but it did happen. So, before investing, do keep in mind that you have to be diligent – you have to know what’s happening in the world of bitcoin at all time. You cannot afford to be lazy as you have to take advantage of every given situation. We only shed light on the bad aspects of the deal, but it doesn’t have to end that way, as you can get positive outcome as well.
When the Price is Right
When you feel that the price has gone up far enough, it’s time to get your profit. With bitcoin, there’s no time to wait around. The best way to go about it is by not selling all of your stock, but still sell enough that it feels like you are going in the right direction. Bitcoin investment is no joke and you can lose millions of dollars in a single night.
So, when you have a chance to reap the benefits, do so. Waiting game can go either way when it comes to cryptocurrency. It’s more of a gamble. If you are in a position of advantage, utilize it. The best part is that it is no longer a pain to deal in bitcoins as Goldman has officially announced that it will be trading bitcoins. With such a huge giant getting involved, you can bet that a lot of people will be lining up for bitcoin investment. This means that price will increase even more. The stability and the bright future almost assure that this is indeed the right time to invest in the bitcoins.
If you haven’t already, but are thinking about it, then this is the best time to invest. You are almost certain to get something out of it, and then some. Price is rising and with Goldman’s involvement, it is going to rise up even more. As unstable as bitcoin can be, at this point of time, it is actually pretty stable, so bitcoin investment is definitely back on the table.