Bitcoin has long been seen as the king of the cryptocurrency market. It is the largest cryptocurrency when it comes to value and market capitalization. The way that Bitcoin moves dictates how other cryptocurrencies will follow. Does the current Bitcoin market indicate that now is the time to sell Bitcoin in Houston?
Determining when to buy and sell Bitcoin in Houston is a decision that each investor needs to make based on their personal financial situation, tolerance for volatility, and predictions on where the future of the cryptocurrency will go. The year 2021 was a crazy and volatile year for Bitcoin. It hit a high price of just over $68,000. That same summer, it fell below $30,000. This volatility means that a lot of people made a ton of money, but it also is the reason that experts recommend minimizing crypto investments to about five percent of your portfolio.
The question that everyone in Houston who has a stake in Bitcoin wants to know is, how high will the currency actually go? Many experts agree that it is a question of when Bitcoin will hit 100,000. They expect Bitcoin to be volatile in the short term and then grow in the long term.
Does Bitcoin’s volatility mean that now is the time to sell it? Not necessarily. Those buying for long-term growth are not affected by short-term swings. Many opt to look at their cryptocurrency investment as something they set and forget.
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