Bitcoin Is Back, Big and Better
We all admit that the fall in Bitcoin’s price took us by surprise. It raised significant concerns in the crypto world and shook investors. However, investors shouldn’t get worried because Bitcoin is back, big and better. So keep on reading to know more about Bitcoin’s bounce back.
Bitcoin fell tremendously after a crackdown in China. Moreover, Elon Musk accelerated the fall by failing to accept its payment anymore. Even so, on September 5, 2021, Bitcoin’s price rose to $52,912. This increase marks Bitcoin’s bounce back to over $50,000 in late August. This was the first time the coin’s price rose since May.
What’s The Trend of Bitcoin’s Price?
Since the rice in Bitcoin’s price, its latest daily high price points over $50,000. The coin shows an upward climbing back toward its prices earlier this year. In April, Bitcoin experienced its all-time high above $60,000. However, the April High got preceded by a sharp drop to under $30,000. This was as recent as July 20, before the recent rise back to $50,000.
What’s The Advice to Investors on Bitcoin’s Comeback? Now that it's big and better
Cryptocurrency investors should expect volatility to continue. Therefore, experts advise keeping your crypto investments below 5% of your total assets. With the volatility, there are days when crypto prices can fall below 80%. Still, if you have faith in Bitcoin’s long-time potential, just don’t check on it. This is Humphrey Yang’s advice to crypto investors.
As an investor, you shouldn’t let a price drop affect your decision to buy crypto. Accordingly, don’t let an abrupt rise influence your long-term investment strategy. Moreover, don’t start purchasing more coins due to the price increase.
Crypto investors should always ensure that their financial bases are covered. Cover your accounts from emergency savings to retirement accounts. After that, you can then invest extra money into speculative assets like Bitcoin.
Even if crypto is fluctuating, don’t check on it. Set your account and forgets it, just like any long-term investment account. Letting your emotions into the trade can affect your earnings. You can end up selling at the wrong time or make bad decisions. Yang says stressing about crypto isn’t a healthy way to approach it.
What Is the Connection Between Cryptocurrency and The Dark Web?
The dark web is a section of the internet hidden from the public eye. You require specific tools like Tor to access and transact on the dark web. Many people view the darknet as a dangerous section of the internet. This is because it hosts criminal activities.
Pairing cryptocurrency and darknet services have caused a boom in cybercrime. Bitcoin is the world’s first currency and payment network not controlled by governments. It was the original medium of exchange for the technology community. It became the currency of choice for drug dealers trading in the dark market. This is because crypto transactions are nearly untraceable.
Cybercriminals use Tor’s encryption network to access the dark web. This keeps them anonymous as they trade in the Black market. Using cryptocurrency to transact on the dark web ensures user anonymity. This means that law enforcement agencies can’t track them.
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