How To Invest In Bitcoin (BTC)If you have been investing in cryptocurrency, you know that considering the market conditions is of paramount importance. All these are already in their own ways, investments mediums, because the more you purchase BTC, the more profit you will be accumulating if you choose to store it or resell it to other traditional buyers at a higher price than the one you bought with the real companies.
Particularly as the cryptocurrency boom swept up a number of digital currencies into record-high prices around the end of 2017, news from the digital currency sphere could prompt investors to make quick decisions, sending the price of bitcoin upward or downward quickly.
If you are going to regularly perform operations with bitcoins, mobile and desktop wallets are more suitable for you, and if you invest a large amount in the cryptocurrency for a long time, your choice is reliable hardware devices and computer wallets.
Binance offers the option to trade coins into multiple currencies and supports digital currencies, including EOS, Skycoin, TRON, ICON, Ethereum Classic, Litecoin, Ripple, Stellar Lumens, Bitcoin Cash, plus a bunch of cryptocurrencies you have probably never heard of.
Say there are two options to invest- for the bitcoin price of $3000 now (at 10 AM), you can either invest in the price will be more than $3000 by 6 PM or the price will be less than $3000 by 6 PM. If at 5 PM the bitcoin is indeed higher than $3000, you earn the payout of certain payout percentage of your investment, if it's lower, you lose your investment.
Tai Wong, head of base and precious metals derivatives trading at BMO Capital Markets, emphasises the fact that the normal scenario for commodities, where rising prices leads to an increase in production that pressures prices lower, does not apply in this market.
With digital credit services on the rise globally, Nexo is already profitable having reached $700 million in loans to more than 200, 000 users in 2019 with more than $67 million in profits, making it one of a few crypto projects currently making money.
Before going further, it is important to say that the Bitcoin price will make a further fall in the short term as a key support line has recently been broken, and unless the price is held by a concentration of buyers further down the price curve, the price may touch close to $6,500 in the short term if the $7,000 support line is broken, make a rebound into the $7,500 and $8,000 price zone and then head back above $10,000 over the medium term.