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Will bitcoin crash again in 2021
2021-10-04, 10:11
Several important bitcoin price nodes: 2020-2021.8
14 April 2021:Bitcoin hit its all-time high of 64,899. Since then, it has depreciated by approximately 34%. Luckily it’s still 846% higher than it was on 14 April 2020. Bitcoin saw massive adoption in 2020, with big institutions and countries joining the talk.
El Salvador is the first to make Bitcoin a legal tender. So far, it has purchased more than 700 bitcoins. Right now, the support level is above 40,000 as the bears take control. A Few weeks ago, Bitcoin was at the $47,000 support level. So far, Bitcoin has a market dominance of 40.91.
Will Bitcoin crash again in 2021
Due to the massive adoption, it’s highly unlikely that Bitcoin will crash like in 2017. But a series of bad news could push it lower to $30,000 like what happened in May. If this happens, some traders will take the sidelines as they watch it move further down, close to $25,000. So far, Bitcoin has fallen from its moving average in the last 50 days.This is piling huge pressure on the coin. However, not all negative news will have a significant impact on Bitcoin. In Sept, China banned Bitcoin, but the price of Bitcoin has risen rapidly after a part of the decline. As can be seen, some negative news from regulatory aspects has less impact on the price of Bitcoin.
Analysts are associating the latest dip with the Evergrande meltdown. This has caused panic selling across all the markets, including the S&P 500 that dipped 2%. But other investors, who use long-term holding strategies, say it’s a normal & predictable healthy correction, and Bitcoin will pull back as it always does. Always trade with caution as the market is highly volatile.
What should I do if I am interested in encryption but have not invested yet?
It’s not too late to invest in Bitcoin. Some analysts predict that it can hit more than $100k soon. Besides, you can use it to send money to the people you love. All you need to do is choose a reliable platform.
How to Invest in Bitcoin
You can invest in Bitcoin in various ways. Whether you are a beginner or an experienced trade, these methods can be highly profitable.
Buy and Hold
The simplest way to invest in Bitcoin is to buy low and sell high. You can trade daily or hold for the long term.
Quantitative trading
This is trading based on history and quantitative analysis. Since it relies on scientific data, quantitative trading can be highly profitable. All you need to do is use a successful trading software or platform.
Margin Trading
You can make great trade positions with margin trading even when you have less cash. Margin trading can help you gain high returns with a small investment.
Crypto Loan
You can earn passive income by loaning your bitcoins to other people. Most platforms allow people to stake their bitcoins and make a percentage of the transaction fees calculated as annualized returns.
Gate.io: Best Place Start to Invest in Bitcoin
Gate.io is the best platform to choose as a Bitcoin investor, which is one of the earliest crypto exchange platforms to be launched in the market back in 2013. Gate.io has been listed amongst the Top 2 exchanges at Coingecko in may and scores a full trust score of (10). Crypto enthusiasts like having many options to trade. Especially the newest coins with potential and haven't been discovered by other platforms. Luckily with Gate.io, you can enjoy trading more than 800 cryptocurrencies on the platform. Gate Token holders also participate in voting for new listings.
As one of the biggest exchanges worldwide, it comes with a user-friendly interface that makes trading easy for both beginners and experienced traders. You can buy and store Bitcoin on Gate.io. It utilizes a layered 2FA security that will protect your coins.
Sign up on Gate.io and buy bitcoin using credit card, bank transfer or P2P trade.
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