Bitcoins Are Volatile: After launching in 2009, bitcoin has gained huge popularity within a year, and the price of bitcoin is unpredictable. So, it is a highly volatile digital asset that is available online. Investors are still trying to get hold of this digital asset and they are ready to take a risk of loss.
Why investors are taking such risks associated with bitcoin? If you are interested in bitcoin trading, visit immediatebitcoin.org to acquire an utter guide to crypto trading. Before we discuss the reasons for this volatility, you need to know why bitcoin is considered a volatile digital coin. Here you can find some factors that can put your bitcoin investment at risk or you can find the factors that can make you willing to invest in it:
Most investors think that bitcoin will keep its value and cannot get affected by inflation. It is like metals, and you can consider it digital gold or other expensive metals. If you think that stocks and bonds can give you a secured return then you can face a great loss because the government can control the stock exchanges but they cannot keep your funds safe while you invest in stocks and bonds. They are equally risky and volatile, and you can get a high return by investing your funds in bitcoin rather than stocks and bonds.
In October 2021, Bitcoin Strategy ETF was introduced by ProShares, and the bitcoin price skyrocketed after this announcement. The price of bitcoin jumped to $69,000. But, it was fake news and when it was cleared as fake news, the price of bitcoin dropped to $50,000. So, media houses including social media campaigns can affect the price of bitcoin and rumors can make it more volatile.
Apart from that, China Government declared it illegal and a large number of bitcoin mining firms were shut down in 2021. After that, the price of bitcoin again dropped to $29,000.
It is true that bitcoin is highly volatile, but you can take this risk to get a high return. You must consider it as a commodity like gold and metals, and you must keep your eyes on the recent trends and news about the crypto ecosystem. Do not invest in bitcoin only because your friends do the same, you must know about blockchain technology to make an informed decision.
To keep your funds safe, you must choose a reliable platform where a wallet facility is available. It is a secured and trusted platform used by many investors. Do not invest more than 5% of your total portfolio on crypto assets and you must prepare your exit plan while you enter into this crypto world. To avoid the risk of loss, you can invest a small amount in crypto and you can increase your investment later on.
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