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To Hodl or Not to Hodl: What’s Behind the BTC Price Rise?

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bitcoin bull trend 2019

At the end of November 2018, the Bitcoin exchange rate fell below $ 4000. That’s how the crypto winter began. The next BTC value growth began in May 2019. Over the week, it went up by a third. On May 9, BTC crossed the $ 6000 mark, on May 12 it rose above $ 7000, and on May 14 Bitcoin was trading at $ 8199 on CoinMarketCap. Together with Changelly, let’s figure out what factors provoked such a significant jump in BTC price, and is it worth investing in BTC in the current situation.

What’s Behind the Bitcoin Bull Trend

First of all, let’s name the key reasons that influenced the BTC price rise. Several aspects affect the active’s price fluctuations, namely: economic, political, and psychological. Remember the recent case with Elon Musk naming Doge his favorite crypto asset?

The one small tweet made the Doge price raised twice in one week. The case is a good example of how psychological effect can influence the cryptocurrency market condition.  

Elon Musk tweet about Doge
Dogecoin price increased after Elon Musk tweet

Psychological aspect:

– Since the beginning of 2019, investors, including large ones, have taken a funded strategy. They began to hold bitcoins longer, buy BTC instead of selling and spending it. So since the price of any cryptocurrency depends on demand, the rate of Bitcoin began to rise.

– The demand for BTC also raised among regular crypto enthusiasts. The opportunity to invest in Bitcoin at its lowest price in the past year and a half made people sell their altcoins and convert it into Bitcoins.

Economic aspect:

– The aggravation of the trade war between the United States and China. On May 10, the USA increased duties from 10% to 25% on almost all goods from China. Against this background, the growth of the shadow market is possible: smugglers may try to avoid fees and make transactions using cryptocurrencies. Cryptocurrencies, by the way, are popular in Asia, including China. The sharp increase in Bitcoin in 2017 was also caused by Asian crypto investors entering the market.

To Hodl or Not to Hodl?

First of all, it worth mentioning that we’re all very different as well as there are different ways of crypto investing and trading. One would buy bitcoin for about $ 3000 just to then sell it for $ 8000, and that’s fine. While the other will wait for a new BTC golden era to increase the income no less than 10 or 20 times.  

Of course, there are always risks. It is crucial to act within the limits of acceptable risk and carefully study the cryptocurrency in which you are going to invest. In the world of cryptocurrency, there is much scam. So think twice before exchanging your BTC (if you have one) for any other altcoin. Also, be sure to research all the information about the exchange where you are going to buy and sell BTC. And if you want to eliminate any kind of risk, just buy BTC through the instant exchange service.

The single rule for all crypto investors is not to buy Bitcoin for the last money. If the market collapsed and the BTC price falls – do not sell all the currency for a pittance. Try to keep Bitcoin until the course grows. All crypto geeks and traders recommend a similar tactic.  Good luck in future crypto investing and have a nice swap!

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NYSE files a trademark application for trading NFTs

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The world’s largest stock exchange may be planning to bring business into the Metaverse.

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Traders say $4,000 Ethereum back on the cards ‘if’ this bullish chart pattern plays out

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Global tensions that could trigger a correction in markets abound, but traders say ETH’s current setup could result in a swift return to the $4,000 level.

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CryptoPunks community reacts to the ongoing copyright battle between V1 and V2

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Although the collection is no longer deemed authentic by Larva Labs, its creators alleged sold 210 ETH worth of CryptoPunks V1 when the wrapped versions first gained traction.

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Binance.US is under investigation from SEC over trading affiliates: Report

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Binance CEO Changpeng Zhao allegedly has connections to two market makers buying and selling crypto on Binance.US.

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Boost Insurance unveils product covering against crypto theft from qualified custodians

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Boost Insurance, an insurance infrastructure-as-a-service platform, alongside go-to-market partner, Breach Insurance, a company that provides insurance technology and regulated insurance products for the cryptocurrency market, today announced the launch of Crypto Shield, an insurance product for cryptocurrency available to retail wallet holders.

Crypto Shield covers the theft of cryptocurrency while in the custody of a qualified custodian.

The Crypto Shield product allows individuals to purchase protection for their crypto wallets held by select custodians. In the case that the custodian is breached or suffers a social engineering attack resulting in lost assets, individuals insured under Crypto Shield can be reimbursed for the value of their policy.

Boost + Breach

While there is some commercial insurance available to cryptocurrency institutions, Breach envisioned Crypto Shield as a solution to the protection gap that currently exists for individuals holding crypto, securing a partnership with Boost to assist in bringing the Crypto Shield product to life.

Boost’s insurance infrastructure-as-a-service packages the necessary operational, technological, compliance, and capital requirements for new insurance programs into a white-label solution, enabling insurtechs like Breach to swiftly launch new lines of business.

“Boost’s deep expertise and insurance infrastructure-as-a-service platform, and Relm’s industry-leading crypto reinsurance capabilities, have positioned Breach to bring a highly complex insurance product to the market in a beautifully delivered customer experience.”
– Eyhab Aejaz, Co-Founder & CEO at Breach

To deliver that product in a seamless experience, Boost and Breach’s platforms connect via API, allowing Boost’s policy administration system to deliver back-end management for the Crypto Shield product. Breach’s customers are then able to purchase and manage every part of their policy and claims process, all from within Breach’s proprietary crypto insurance platform.

“With Boost’s infrastructure-as-a-service platform, companies like Breach can launch and deliver innovative new insurance offerings, at a fraction of the time and cost required to build a full-stack insurance program from scratch.”
– Alex Maffeo, CEO & Founder of Boost

In addition to powering the new product, Boost and Breach partnered to source and secure the necessary reinsurance backing from industry expert Relm Insurance Ltd. (Relm), underwritten by Trisura Specialty Insurance Company. Operating out of Bermuda, Relm is a capacity provider to the crypto sector with a track record of insuring companies across the ecosystem. Relm has recently been awarded an ‘A Exceptional’ Financial Stability Rating (FSR) by Demotech.

“Relm’s partnership with Boost and Breach to reinsure the US’s first cryptocurrency insurance product for retail wallet holders is a milestone in supporting the development of crypto and blockchain technologies.”
– Joe Ziolkowski, CEO at Relm

The post Boost Insurance unveils product covering against crypto theft from qualified custodians appeared first on CryptoNinjas.

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