Inhoudsopgave
Understanding the Recent Bitcoin Dip: A Golden Opportunity for Informed Investors
In the aftermath of the approval of 11 new exchange-traded funds (ETFs) and a subsequent 20% dip, Bitcoin (CRYPTO: BTC) prompts contemplation on its current status. Despite the dip, down by more than 10% from its peak, discerning investors may find an enticing opportunity in the market.
Bitcoin Managed to Rebound Impressively
Bitcoin, known for its volatility, has weathered numerous drawdowns over its 15-year history. These fluctuations, often preceding bear markets, are not uncommon even during bullish periods, as evidenced by the 2021 bull run. Despite experiencing multiple 20% declines on its way to an all-time high, Bitcoin managed to rebound impressively, more than doubling in just four months.
The cryptocurrency’s volatility is partly attributed to its 24/7 global trading and the prevalence of leveraged trading, causing exaggerated and sudden price movements. However, considering Bitcoin’s history, these fluctuations can be viewed as inherent to its nature.
Crucially, Bitcoin’s fundamentals remain robust, a key factor in understanding and weathering market fluctuations. The hash rate, measuring Bitcoin’s computing power, recently peaked in early January 2024. This, coupled with an increasing number of miners and nodes, signifies the network’s strength and growth. The total computational power of the Bitcoin blockchain now surpasses that of the world’s most powerful supercomputers by 500 times.
Bitcoin’s adoption trends are also promising, with over 53 million digital wallets currently holding Bitcoin—a 10 million increase in just a year and twice the number from five years ago.
Bitcoin’s Recent dip
In essence, Bitcoin’s recent dip can be contextualized within the broader perspective of its historical volatility. The cryptocurrency is in excellent shape, with its network continually growing more resilient and decentralized. Until indicators suggest a lack of fundamental strength, informed investors may see the current dip, and potential future ones, as an opportune moment to acquire the original cryptocurrency at a discounted rate.
Want to learn more about bitcoin mining or start mining yourself?
“This data underscores considerably stronger profitability in the mining sector compared to challenges experienced in 2022 and part of 2023.”
In approximately six months, Bitcoin undergo a “halving,” reducing the new bitcoins awarded to miners by half. Satoshi Nakamoto introduced this event in 2009 as an anti-inflationary measure. Occurring roughly every four years, the lead-up to halvings traditionally proves the most profitable time for crypto investors. “Buying bitcoin six months before a halving and selling 18 months after has historically outperformed a ‘buy and hold’ strategy,” affirms the analyst.
Bitcoin mining explained.
Bitcoin Mining is the industry where the largest institutional party BlackRock is betting big and has recently become majority shareholder in four of the five largest mining companies.
You buy one or more Bitcoin mining machines and within 6-8 weeks it is mining for you with a current rate of 5.2 cents including hosting. Security and maintenance. What does a miner cost? How can these power rates be so low? Want to know more?
Attend the free Q&A about mining:
With Mitchell Weijerman (CEO of Epic Mining) . Where Mitchell answer all your questions live.
Also you can calculate profit in this spreadsheet
Full article about mining in depth you can find here. Bitcoin mining – Buy Low Mine High.
The simple way how smart investors can profit from a broken banking system. How crypto miners made 16.7 billion USD in 1 year and how we can get a piece of it. How anyone can make money with crypto mining within 4-8 weeks, regardless of your knowledge or experience.
