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As the transaction fee of Bitcoin depends on transaction size and network volume, it will keep on fluctuating as per the change in network volume and size of the transaction.
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I would prefer to hold Bitcoin after evaluating the current scenario. It’s getting famous, its acceptance is increasing, and it will be the mode of payment for many things that we buy through fiat currency. So why would I sell it? All these activities will eventually increase Bitcoin's value.
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I actually feel like @Leviathan.007 has shared a good point. We all have noticed that whenever there is thought that celebrities or big companies want to share regarding Bitcoin, they always choose the Twitter platform. Maybe it can become the popular platform for Bitcoin world updates.
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Mining is one way, but it is very expensive and not feasible for everyone.
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It is very true that some regions of the world will not be affected if there is no crypto in their economy, because the people living there are not aware of it.
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Holding new coins is risky as it may drop to a cent. It's better to hold old coins since they have constantly been pumping over the past few years.
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Yes, it is a good aim. The amount you are putting on the table is sufficient to gain $5000. However, it depends on your trading strategy and style. As a day trader, you need to be more careful and calculate your risks.
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As a new trader in the Crypto world, you need to understand a few things that will help you to speculate the next day's movement of the market.
Analysing past weekly and monthly data
Stay updated with news
Monitor movement of crypto market (daily, monthly and yearly)
Keep yourself updated every time.
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I am totally getting what you are suggesting, but booking profit is a part of the strategy that any individual trader prepares. Some are here to stay longer and have good risk-taking capability, and some are here to obtain many small wins and move forward. Yes, it is beneficial to book profit when the market is bullish, but you never predict that it will fall soon. Maybe it's going to beat its own higher position. In my opinion, it's completely a personal choice.
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@sheryllmcnulty there are many brokers that have minimum deposit requirements as low as $10, like finprotrading.
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Bitcoin is not backed by any physical asset like Gold nor by any fiat currency. It makes me wonder if I should invest/trade in Bitcoin or not?
You might be wondering why a lot of rich people are involved here. They are investing crypto not because they look for any backup by any physical asset but they consider this as a digital investment. They find it risky (as well known) but this never gives them hard to understand and I think you can do the same if you want to. May you have to start in small amount and for you to prove that investing in Bitcoin is worthy of your trust. Risk takers will take the risk but if you are doubtful, I guess you will not have to try. Starting with a small amount is always the right thing, my first btc trade was just 0.001 btc. Wasn’t sure back then if crypto trading is for me. |
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Volcanic energy is a renewable geothermal energy. So it is technically renewable and it can be used for Bitcoin mining also as it seems. It is going to be a first experience with volcanic energy in this field I guess. El Salvador is still continuing to be one of the firsts to take brave actions. I hope that this can be helpful for the environment to stay better and then maybe the other countries would also start preferring this way.
El Salvador is setting examples for the world, be it legalizing bitcoins, installing atms, using renewable energy for bitcoin mining or anything. They are taking risks and I hope other countries will follow them if they get successful. |
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@RiskySanchez China can think of itself as a part of the world. They only look for ways to control other countries to be a superior power. We know currency is everything for the economy of any country. If some unregulated currency like bitcoin takes over the world, China will lose its chance.
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Risks are inseparable from investments, be it crypto, stocks or anything. There’s always a thumb rule for investments: never invest more than you can afford to lose. No matter how cliche it sounds, it is always applicable.
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@bryant.coleman I am here for “it is not replacement, but addition to another option”. Bitcoin can run parallel to the fiat currency and that’s exactly what is happening in El Salvador, if you don’t like it, don’t use it. There’s no compulsion but these violent tactics are highly condemnable.
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@philipma1957 I don’t think these two are only important aspects of successful mining. Choosing a reliable and transparent mining pool is equally important as well as having powerful hardware.
Finding a reliable and trustworthy pool is easy with several that are well known and trusted so that part is not a problem. Finding low cost power is the hardest part of the equation. Definitely finding a low cost hardware is the deciding factor whether mining is going to be a profitable venture, or just a waste of time. |
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I don’t think anything is ever going to happen. I agree that bitcoin has become quite a big name in recent days but it is not that big that it can destroy a complete economy. There are so many other factors that might contribute to the destruction.
There's always the possibility so it's not completely a fiction that bitcoin's going to destroy the economy, remember that it's an unusual investment tool so it's likely that its not going to do so but I am on your side, it's just that I want people to see that there's endless possibilities, be it worse or better. Obviously it’s never wise to bet on this unpredictable asset a 100% of your capital. Anything can happen, I just wanted to say that I am not seeing it happening anytime soon. |
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As the title say? Could it by possible?
I believe that there is another thread created asking this Shitcoin if can reach 1 dollar , and now here you are lowering the target ? this is impossible to happen because of being Shitcoin and nothing can be promised n the future. I think Shiba Inu’s price may rise in the long term. It may not be as good as other mainstream cryptocurrencies but there’s a good chance of it performing well.
is there a product ? is there really a future for this? Personally, I am not a big fan of these meme coins but we can’t dismiss the popularity of the coin, especially due to the sparked interest from a few prominent figures and how they have influenced people in favour of the coin. Ultimately the value of the coin is decided by its demand and supply. |
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Many possibilities happen . Maybe we can't predict how far the price will go. But it could be that bitcoin still has the opportunity to go up a lot to reach $ 10,000. And this could happen . For the decline, you can always analyze when the price tends to go down, I don't think it's so drastic to go down.
What are you talking about? are you blind? to go up 10,000 for bitcoin? the price hits more than 64,000 and now still sits at 40,000 dollars above. are you sure you are posting in right thread? or you are referring in Ethereum ? The volatility of the market depends upon the demand and supply. Everyday someone enters or leaves the market which makes it unstabilised market space and will continue to be so
But the question lies on When the stabilization comes , and the answer is Never, because bitcoin is a volatile currency meaning the more using this is the high the value would be. Quite naturally! More people using means more demand and if the supply is not surpassing the demand then value of the coin will increase naturally. |
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If I have to compare investing and trading on the basis of difficulty, I will say trading is difficult because it needs analytical and fundamental skills, whereas in investing you just have to hold bitcoin through all the volatile ups and downs.
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