No matter whether there is bull or bear but bitcoin is always valuable. When it comes to other coins people always looking for a chance to book profit and get out of that particular crypto but the case of bitcoin is different because people see it as digital gold. And yes this is the reality bitcoin is digital gold that is why people want to hold Bitcoin for the long term.
There are several reasons behind it such as Bitcoin halving, technology, and the history of BTC. When it comes to predictions then experts are predicting Bitcoin will reach 100k plus and they say this by checking the history of Bitcoin and after checking the different types of analysis so we can't say that they are completely wrong. Maybe Bitcoin can be much more valuable than 100k in 2024 or 2025.
What Does The Data Say About Bitcoin?
Data says that almost one million individual wallets are holding bitcoin and you know the quantity is 1+ btc. Most of them are long-term holders and they have long-term vision with bitcoin. If we avoid the 1+ BTC holder wallets then there are many wallets with less than 1 bitcoin so we can also count them.
Whales can manipulate bitcoin but those who studied bitcoin properly and have been through tough times and never sold the bitcoin are always here for hold for long. In this case, Too much manipulation is not possible and the whales have to stop after a limit. Research always helps and if you have researched very well You have checked the history of Bitcoin from 2009 to 2023 then you know the game and you will definitely react according to it.
But for those, who are new in the cryptocurrency field and have not researched well they sell their crypto when the panic mode activates in the market. There are many exchanges that collapsed but dheet hodlers never sold their bitcoin the people who are new here get out of the market in this type of situation. So the only thing I want to say is that no matter what happens, focus on your hold and never sell in loss and this is how cryptocurrency works.
Why are People Prefer Long-Term Holding For The Bitcoin?
When Bitcoin started the price was not even $1 and now you can see the price is almost $27k Now just imagine the profit. That proves Bitcoin always rises in any type of situation. This particular thing gained the trust of institutional investors as well as retail investors. Whales can manipulate the bitcoin but there is a limit because they can't control the whole bitcoin market because there are many holders in the bitcoin.
Bitcoin halving comes every four years and this cut the supply of bitcoin by half which means miners will get less profit. Otherside, the government prints lots of money so inflation is rising. Here the bitcoin has opposite case and this is the reason that it is gaining people's trust and day by day getting popular. You can't imagine the situation of the Bitcoin holders after 10 years.
Bitcoin holders are going to be the richest people after a few years. Wars are a big issue for the country and the situation is not good. On one side people face inflation and on another side, they are losing their property and things. In this situation, people don't want a third party because they believe they have full rights to their money and financial decisions. To save their money people choose Bitcoin for sure.
BTC was created to save people's money from inflation and to give them financial freedom and sooner or later the people will understand that. I am not holding that much amount of bitcoin but planning for a systematic investment plan for the bitcoin in which, I can buy a little amount of bitcoin daily. You can also plan something like this. You have to accumulate hive but along with this don't forget to accumulate bitcoin. So that's all for the day guys. I have gathered the information for you and if you have doubts about something just share a comment below.
Thank you, everyone.
Lucky Ali
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| Hi I am lucky ali from gujarat, india. I am crypto enthusiast, blogger and SEO developer. I always interested to learn new things and getting new experience. You can find me on hive, twitter and discord (Lucky Ali#6343). Sharing is caring, Thank you hive family ♥ |