Hello, friends! Today I want to talk about the prospects for the rise and fall of Bitcoin and other digital money. After all, the market cannot constantly grow and the phase of its fall must come. Let’s figure out what will happen next with Bitcoin and altcoins.
Will Bitcoin and cryptocurrencies rise in value or not?
Indeed, since March 2020, digital money has been growing and this growth still has not stopped, although it is already almost mid-2021. That is, for more than a year, almost all tokens have grown by more than 100% or more! For comparison, in 2017 Bitcoin and altcoins also grew strongly, for example, BTC updated the maximum of $ 18,000. Then, throughout 2018, Bitcoin dropped to 3,000 USD.
Other cryptocurrencies also fell significantly. BNB from $ 18 to $ 3, ETH from $ 800 to $ 90. Will this situation happen again or not? Of course, it can at any time! Markets rise and fall, fall and rise again – this is a pattern. You should be prepared for a market drop and work out options for action. They are as follows …
Bitcoin and cryptocurrencies will fall in price or not?
The first option is if you have already earned some money, it is better to take a profit, go to USDT or Thai Baht on the Bitkub exchange. And then wait for the fall of all tokens, especially BTC, ETH, and BNB, in order to buy them off cheaper. This is a strategy for conservative trading and investing. However, it may take a long time to wait for the fall, and when it will happen is not known.
In addition, the fall of coins may not happen quickly and one-time, as it was in March 2020. Alternatively, the market will begin to fall gradually, with small rebounds in growth, leaving hope for a continuation of the bullish trend. Therefore, sitting and waiting is not suitable for all traders and investors. The second option is to fix the profit in parts, pulling the Stop Loss and exiting at it.
The future of bitcoin and cryptocurrencies in 2021
The third option is to create and run 3commas bots for automatic trading with small volumes of first deals and a large number of safety orders. Of course, the profit will not be large with such conservative algorithmic trading, but in the event of a market fall, crypto robots automatically buy cheaper and sell more expensive, increasing profits!
The fourth option is staking and farming cryptocurrencies on Binance. You can stake and farm BUSD, USDT, BNB, KAVA, DOT, and other tokens to receive passive income. There is even less income here than from trading bots, but there are also fewer risks. There is no risk at all if you stack BUSD or USDT, which are pegged to the US dollar and are not as volatile as regular tokens.
A video about the upside or downside potential of Bitcoin and other digital money in 2021 has been completed. I told you 4 options for how a trader and an investor should act in order to make the most of it even in the event of a market fall. If you want to learn how to trade highly liquid and medium volatile coins, join the private group botcryptotrade.com