Considering that the BTC point has exceeded $50,000, analysts believe that the attractiveness of short-term trading of BTC has weakened, but the long-term rise is more attractive to institutions. For most investors, holding cryptocurrencies rather than short-term trading may be more profitable.
After surpassing $50,000, the BTC amplitude can easily cross to a new 10,000-point mark, such as a high of $60,000. The price base is relatively large, and the market value driven by the current doubling of BTC is much higher than the beginning of 2020. Because the current market value of BTC has reached $970 billion, the minimum market value of BTC at the beginning of 2020 will be less than $80 billion. At the same time, the profit brought by short-term trading of BTC has actually been compressed to a low level, and the certainty of profit from holding currency is higher. Especially with more institutions entering the market, the upward trend of BTC has been confirmed.
According to the news, Microstrategy borrowed to buy $690 million in BTC, which may be influenced by Tesla’s $1.5 billion purchase of BTC. In any case, the market driven by institutions continues.
The analysis of cryptocurrencies in real-time should be taken for informational purposes only, and in no case should it be taken as an investment signal. Every investment and trading move involves risk. You should conduct your own research when making a decision.