Bitcoin Is Due for Another Run-up To Go Over $12,000 Per BTC Again
It is quite exciting to see that there isn't much bad news coming in for the Cryptocurrency market especially for Bitcoin where just recently there is another profit-taking event for investors after Bitcoin went over 12K and nearly hitting the target of its another leg of 12.5K.
So I am not surprised if we dip again after hitting 12.5K per BTC again but we just have to remember that there is a scarcity going on for the supply of BTC where some institutional investors or even big entities are buying BTC to hedge their money against the FIAT money because of the latter's yearly devaluation with regards to inflation.
That is why parking your money in Bitcoin seems to be the best way to avoid your money in dissolving especially if your country would suffer in financial ruin like what we saw in Venezuela. Plus due to the fact that Bitcoin has an ever-increasing value for even the mid-term prospective it is really a win for even small investors to hedge their money to BTC.
There are also many ways to invest your money and the second easiest way is to look for cryptocurrency that has a good use case like Basic Attention Token (BAT), the ones that are in the top 20 in the #coinmarketcap. But we just have to be careful where to invest our money as some of the projects really is made just for them to profit and not bring value to anything.
But the message here remains, that Bitcoin will continue to valuate into its predicted levels in a relatively short amount of time compared to other traditional financial instruments out there because of the main reason of ever-increasing scarcity of Bitcoin due to its halving, people and big entities buying and storing it, and its potential mainstream use for our convenience and or speed of transactions.
Disclaimer:
All the statements here are from the author's own opinion and beliefs and not to be taken as a financial advice, so do your own due diligence and careful research on cryptocurrencies before venturing into its volatile and high risk and high reward nature.
Posted Using LeoFinance
