Bitcoin’s Price Increased Back Over $21,000 – September Could Be a Tough Month for Investors
Bitcoin’s price recently increased back above $21,000, uniting from its drop in June. Still, some experts believe that September could be a tough month for investors.
The economic challenges across the world, especially in the U.S. continue to put pressure on the stock market, in which Bitcoin is progressively tracked in the past months.
Is Bitcoin Going to See Even More Changes?
Bitcoin continues to see conventions because each move is instantly met with big orders for it, mostly from institutional investors. Shortly, big institutions are buying Bitcoin, while other investors are holding it.
Most investors are concerned that the economic situation won’t improve any time soon, so they intend to sell once the price increases.
Meanwhile, enthusiast investors and organizations believe that Bitcoin continues to accumulate. The fact that Bitcoin’s price hasn’t dropped over the last weeks appeals to them.
Bitcoin’s highest success remains in January when it manages to hit $48,000. It has lost roughly 70% ever since, going above $68,000.
Bitcoin’s price has experienced many drops since November, but its new highs and further rent price is still impressive! Ethereum, its cousin, also the second most popular cryptocurrency, jagged a new all-time high, going above $4,800.
Although Bitcoin and Ethereum suffered ups and downs along the way, experts still believe that Bitcoin’s price will exceed $100,000 anytime soon. However, it’s still a highly volatile market.
In fact, what should crypto investors do against this volatility? Honestly, nothing, except what experts told them to. Considering crypto’s volatility, an increased price doesn’t mean a long-term problem. Bitcoin’s price is likely to fall as it continues to climb.
Also Read: Do You Want To Enter The Crypto World? Things You Need To Know About Bitcoin!
The Future of Cryptocurrency
It is sure to include even more volatility – and while this isn’t the answer you expect, experts say that investors must continue to deal with it. What investors should know? If you are investing in cryptocurrency, you should expect price changes and instability.
That’s why it is recommended to invest no more than 5% of your portfolio.
Some days you can go down 90%, but if you trust Bitcoin’s long-term potential, don’t check it from minute to minute. That’s the best advice you’ll receive.
Don’t let a price drop influence your decision of buying or alter your investment strategy. And more importantly, don’t invest in crypto just because the prices increase.
Always ensure that your finances are covered, including your retirement accounts and emergency savings, before investing any in cryptocurrencies. In the long-term, Bitcoin’s price will go higher, but there will be a lot of volatility involved.
How Much to Invest in Crypto, According to Experts?
Investors must continue to hold their cryptos, and not worry about price fluctuations. Regardless of how much Bitcoin’s price drops, the good thing to do is not pay attention to it.
As the world’s first cryptocurrency, Bitcoin has come a long way when it comes to its value. Yet, you don’t have to buy an entire bitcoin – for your information, bitcoins can be split into all units, equivalent to 0.00000001 bitcoin.
You can think of Bitcoin as if it was money, as Bitcoin’s transactions are transparent. You can send money around the world easily, as this is a financial system backed by plenty of devices, instead of a bank or a government.
Common Bitcoin’s Misconceptions
Although a lot of people say that cryptocurrencies aren’t trustworthy, the Bitcoin price chart isn’t just a passing chapter. Bitcoin technology announces some options for world issues, looking to improve transactions.
Even there are plenty of misconceptions regarding Bitcoin’s value, it’s here to stay and change many subdivisions. Bitcoin cannot be copied; therefore, it allows you much more secure communication, which makes it impossible to fake Bitcoin.
Unlike real money, Bitcoin is going to solve a lot of world problems, including the overspending, which is a big loophole in traditional spending that allows people to spend twice as much as they usually own.
Some may say that Bitcoin is bad for the environment. How’s that possible? A significant percentage of Bitcoin uses are actually contributing to the environment. The energy consumed by cryptocurrency mining will vary in time, as the user adoption and prices will continue to vary as well.
Bitcoin Declined in September 2022 for Five Years in a Row
If spring 2022 wasn’t enough stressful for crypto traders, this fall is one of the toughest for Bitcoin. Experts announced that prices will go lower than $20,000, which already happened this month.
Experts know how unpleasant this fall is, and that Bitcoin went lower than ever. It’s a dramatic situation, so as an investor, you might want to consider safer options, like Ethereum. Buyers already know this currency’s potential, so as a result, the coin has raised around $16 million.
Is Bitcoin Saving Its Place on the List as “The Best”?
Bitcoin is going to recover after the historical drop in value hardly, but it seems like the declines slowed down, as investors managed to invest the money and keep the value. But this has caused new waves, and Bitcoin has suffered drops again.
September, apparently, is the worst month, with big fluctuations and price changes. Bitcoin has always been stable, which will happen again soon. Bitcoin can become the world’s best currency, but also because investors might love drama and these changes in the market.
Also Read: Let’s Know How To Get Started With Bitcoin Trading!
If investors keep playing smartly, September won’t continue to be a bad month for Bitcoin. For those who chose Bitcoin and Ethereum, it could be the best choice of their lives, despite the price fluctuations.
These currencies occupy the first and second place on the list of top currencies, so it’s already known they have fantastic potential for the future.
So, hurry up and invest in your cryptocurrency, as the price might jump shortly. Buy your cryptocurrencies now and be ready for some massive gains in the future months.