At the start of the year, BTC reached record levels, causing a sharp rise or even a surge in the sector. Bitcoin was proclaimed the best asset of the decade by Bank of America Merrill Lynch! And from a price point of view, indeed, it has outperformed all other assets. In 2010, a single Bitcoin was not even worth a dollar. Its highest price was $ 0.39. Do the math to find out if you bought some back then for $ 100 how much it would be worth today.
What to Expect on the Crypto Market in 2021?
At the start of January 2021, the value of a bitcoin hit a record high of over $ 41,000, more than double the value reached at the peak of the market rise three years earlier. The latest bitcoin boom preceded a significant market correction, which led to the shutdown of many blockchain and cryptocurrency projects. However, just like after the dot-com bubble in the early 2000s, the strongest companies continued to grow. The same was true after the correction in the crypto market for blockchain and cryptocurrency companies that are developing solutions that meet their users’ concrete needs.
According to crypto market analysts and experts, the crypto will experience strong growth in the future. Just as in the traditional financial markets, investors’ complexity increases, as does the complexity of their investment tools. In particular, we expect a sharp increase in crypto options during the year.
Why Invest in Crypto in 2021?
Crypto is the gold of the 21st century. Gold is a proven store of value. Many investors have massively bought it for decades. But since the advent of cryptocurrencies, the term “digital gold” has popped up. For instance, BTC is by definition rare, and it shares many common points with precious metals. Even the actors of traditional finance recognize its superiority. Rick Rieder, for example, the chief investment officer of BlackRock (the world’s largest fund manager with more than $ 7 trillion in asset management), was recently very optimistic about the future of Bitcoin, which could end, according to him, by replacing gold.
How to Invest in Crypto?
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In 2021, you can buy bitcoin as you would make an investment that must be monitored like milk on the fire to keep it profitable. To make profits, you need to set yourself a routine. Check the news of cryptocurrencies and regularly watch the prices to see how they are evolving. And then exchange good deals with other investors on specialized forums and platforms. Besides, most Forex brokers offer trading cryptocurrencies as well.
The price has been flying for a few weeks now. It can go down very quickly, as in 2018 when its value had been divided by five in one year. But the uncertainty entails that, even at more than $ 50,000 a bitcoin, it is not necessarily too late to invest. There is very high volatility, and you just have to keep a keen eye on the market.
You need to set up a medium or long-term approach. You shouldn’t watch the market prices all the time and panic when there is a sharp drop. You should not try to enter the lowest and exit the highest, but rather to buy assets with small weekly or monthly payments (for example, 50 or 100 euros per week or month, but also depending on your salary). The idea is to build up capital to smooth market changes. It’s the same type of financial product that banks offer when you put a little money in your savings book each month.