Cryptocurrency Market Exceeds $1 Trillion USD Market Cap for the First Time Ever
Searches for the terms “Buy Bitcoin” and “Buy Ethereum” are skyrocketing at the moment according to Google Trends. The graph displays a pattern similar to the one crypto investors saw at the height of Bitcoin mania back in 2017. The current search volume for “Buy Bitcoin” is at 50% of what it was in 2017 at the moment, meaning that there could indeed be one more bullish run in the price of Bitcoin over the next few weeks before the crypto market finally cools off.
Is It Still a Good Idea to Buy Bitcoin in the Short-term?
Not even a billionaire investor like Warren Buffet can predict exactly what’s going to happen in the future. That’s why the world’s most prolific investors always have a long-term investing strategy in mind. Those who benefit the most in the crypto market will do the same. And yet, the temptation to let the fear of missing out push you into making a short-term profit is likely very real for you at this point.
Yes, Google Trends might say there is still time to buy and see some gains, but there is another factor to consider that makes it nearly impossible for you to know when to get out.
The Bigger Parabolic Moves are, The Harder They Fall
Even after a three-week run that has seen the price of Bitcoin double to $50,000, retail investors still buying in now may indeed take the price of Bitcoin higher to a range anywhere from $60,000 to $80,000. But since technical analysis was invented, it has been proven time and time again that faster a vertical move in prices happens, the faster it will crash.
The next crash might be coming, and it will likely mean institutional investors are going to take profits and dump a higher Bitcoin price onto retail investors who will inevitably be buying in too high.
Invest in Bitcoin and Ethereum with a Long-term View
Investing in bitcoin, Ethereum and other cryptocurrencies can be quite a roller coaster ride as we’ve witnessed over the last few weeks. If you can’t stomach it, it may mean you’re investing more than you can afford to lose or that you’re thinking about the short term rather than the long run.
In the long run, institutional investment in the space will continue and in the short term, you might want to consider taking some profits and moving some of your crypto capital to a stablecoin like USDT or QCAD.
Either way, registering for an account at Netcoins will get you a step closer to joining the crypto revolution which continues to take the world by storm. Get started today!
Writer, content marketing at Netcoins.