Bitcoin was the cryptocurrency for everyone last year and early this year; everyone wanted to have a bitcoin. In fact, lots of economic desperadoes wanted to invest in Bitcoin, get on the gravy train and become super wealthy.
With Elon Musk throwing its weight behind the cryptocurrency and even accepting it as a means of payment in his company, Tesla, the value of Bitcoin soared to about $60,000. And suddenly, there was an endless rush and pursuit for Bitcoin accumulation and investment with the hope that its value would increase further. But, we all know how volatile the crypto market could be. It is totally unpredictable.
Suddenly, Musk who was once an advocate of it suddenly abandoned it and put in his whole attention to the Dogecoin. With an influential personality like Musk making a u-turn, Bitcoin’s value crashed! And people lost their money and investments! Oh, oh.
The biggest reason why people fail with crypto is because they don’t know how crypto currencies work.
It operates on a four year cycle. This is the end of the four years cycle. In the first two to three years, you have the opportunity of acquiring Bitcoin at very low prices; The following year you are likely to see an increase in its price and value probably to $100,000. So here is a simple strategy to apply: Sell the bubble and buy the crash. Buy Bitcoin when it is extremely low and sell it when it is very high in value. That is how it works. With the continuous dipping, this could just be the best time to acquire Bitcoin.
It can’t continue to have stable high prices or value; like every other crypto currencies, it rises and falls.