Bitcoin is retracing and it's currently at 95k. It dropped to 92k two days ago, and many people assumed it was on its way to 90k. It was at 99k a few days ago, and everyone was waiting for 100k, but we did not get there; instead, we saw a pullback. I understand how disappointing it was for many, but I do not think anyone was surprised.
We expected a pullback because the current run would be unsustainable. If it kept going at that rate, BTC would undoubtedly reach 150k in January, but this has not always happened. Coins such as doge, eth, and BTC are currently trading at very good prices heading into the bull run year, and these significant pullbacks are how people can get in.
It may surprise you to learn that many people are hoping to see BTC return to $60,000 so they can invest. Although people like this were waiting for prices to rise before taking action, that ship has sailed, and they must now buy at this price. There are less than five weeks until the end of the year, and I believe that these five weeks should be the hottest entry point for anyone.
December Might Be Wild
To be honest, I expect BTC to continue its "back and forth" for a little while before exploding again near the end of the year. I am using BTC as a metric because it is the gold standard; I do not own any.
This is because I do not believe it is currently profitable to hold BTC, but I believe it is the asset you should use to hedge your investment if the market begins to fall. BTC and USDT are your best bet when the market is down, but not when it is up, which is why.
Holding BTC Is Purely For Solidity
I do not have any (BTC), and it is too expensive to own right now. Anyone buying BTC right now, in my opinion, is doing so solely for the thrill. Although going from 95k to a potential 180k is x2 profit, which is still a decent profit because any profit is profit, some alts can still do a potential x50, which is more like it.
However, altcoins appear to be more uncertain, whereas BTC appears to be more certain, but the bull run year is only a little less than 5 weeks away.
The best time to buy Bitcoin was December 2022.
I believe it was 16k back then, but I am not certain. So, if BTC reaches 160k, that would be a 10X increase from a 16k entry point. However, I understand that not many people were willing to invest in cryptocurrency while Gary Gensler was conducting his crypto witch hunt. Although I could be wrong, 2022 was the wildest year for cryptocurrency since its inception, and it was likely the best year for an entry point.
So anything other than late 2022 and early 2023 is unlikely to yield a significant profit, but you can be certain that your asset will not go to zero anytime soon.
I understand that the alts appear uncertain, but unless you simply want to have a stable portfolio, I believe they are your best bet for hitting 20 to 50x.
In Conclusion
When it comes to Hive, I believe that everyone on the network should be loading a thefty sum. The reason is that we already know the network, including its history, capabilities, and weaknesses. Being in crypto requires some good capital to generate even more life-changing capital.
In reality, the alts are your best options. If you have started earning some decent cash back from an external cryptocurrency project, I believe you should invest it in altcoins right now. You do not want to wait until 2029; make 2021 the year you become wiser.
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A friend of mine in Europe told me that someone sent her money to buy BTC for her now but she is skeptical about buying it. This same person was advised to invest when BTC was 59k but she declined. Now seeing the pump, she quickly made up her mind...I really hope that she wouldn't be used as an exist point las las
Some alts are already rising but still a good entry to join the moving train before the run and make decent profit.
I hope some alts I have aside hive will just surprise me come next year.
Unfortunately she won't made enough gain at this point. I think 59k was a good entry point. She could have easily done a x3 when BTC hits 160k. There are always going to be people like this; always willing to only invest when price is peaking. They'll be the spectacular that the bull run will use to rally unless they truly choose to learn and be wise.
I got some Hive today. To add to my power up in 2 days time. It'll be massive during alt season
I buy when I have the money. I have both BTC and ETH along with a handful of other cryptos. I bought BTC around 60,000 and ETH around 800.
Most recently I dumped more into BTC at 80,000 and also more ETH. Waiting for the rocket ride. 😁😁
Congratulations, I think you entered at a decent price, especially with eth. Eth still has the potential to hit a X5 and I'm guessing you're loving the ride already
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Many people right now doubt the coning of alt season like they doubted BTC not going to zero when crypto enthusiast stood firm in resolve. I’ve began looking into and diversifying my small portfolio extremely to have at least a little of every token I consider to be a “sleeping giant”. BTC’s uproars will not be as shocking as what many alts will show us.
Yeah, the retracement is expected, offering stability, but I don't think it's a good buy for me yet until it gets to the FVG at 80k down there. Yeah, I feel like altcoins hold explosive potential. December 's volatility could set up 2024's bull run