At the time of writing, the price of Bitcoin is trading around $ 9,700, with a lateral trend in the last 5 days.
After the Halving of Bitcoin last month, the price of BTC has tried on several occasions to consolidate above $ 10,000, in all cases it was quickly rejected.
Without a doubt, the great challenge of BTC is to consolidate above 10k. Will you be able to achieve this goal in the short term?
The price of Bitcoin has plenty of predictions
Daily, various predictions about the future of the price of Bitcoin are published, but very little is said about what can happen with BTC in the short and medium term.
Recently, analysts from the Bloomberg chain, predicted that the price of Bitcoin can reach $ 20,000 before the end of the year. This would be good news for the ecosystem as it would speak to the maturity and sustained growth of cryptocurrencies.
Personally, I believe that Bitcoin will continue to fight in the short term to exceed USD 10,000, and defend USD 9,000. While still in that boring range, the most convenient thing is to trade looking for small movements both up and down the price.
Hold and breathe easy
If you believe in Bitcoin technology as the future of digital money, buying at this level and waiting may be one of the most profitable investments going forward.
The advantage of holding is that you do not have to be aware of whether the price rises or falls. You just expect Bitcoin to fly like it did back in December 2017, and you make a big difference.
For example, if you had bought Bitcoin earlier this year, you would already have a return of more than 30%. What financial asset has yielded so much return in the first 6 months of the year? Not to mention the terrible pandemic we are going through.
Finally, you can take advantage of this market side to obtain short-term performance. Now, if you are an investor who knows how to wait, do Hold and breathe easy.
What do you think will follow the price of Bitcoin in a lateral trend? Let us know what you think in the comment box.