Topic: Bitcoin’s Soaring Heights and the Unpredictable Journey Ahead - page 2. (Read 152 times)

Bitcoin also offers a huge sum of profit if you acquire it on time. Just between yesterday and today, I read the posts of two members. One of them said he bought Bitcoin at $16k, and another said he bought two Bitcoin early last year at $21k each. These two individuals already had a huge profit right now that the price of Bitcoin has reached $61k, and there's still a new all-time high to be reached this year. Some people have predicted Bitcoin to reach $150k–$200k; even if it doesn't reach that mark, it will not go less than $100k+, and by then most investors will be in profit. Although the choice is yours to make about which digital asset you want to invest in,. 

Just today, one of my friends on the forum was telling me how he lost the opportunity to make about $400 in profit from Pepe Coin if he had invested some of his capital in it just a few days ago, but he was not fully convinced to invest in Pepe that day, so he invested in another coin. Even the coin he later bought the day he was supposed to buy Pepe is not yet pumping while Pepe's price is surging high already. That is one thing about alt coin investment: you could think you are making a wrong choice when you want to invest in the right coin that will pump, while when you are investing in the coins that will not pump, you will be fully convinced that it's the right choice.

I think when investing in altcoins, always go against your intuition or prediction sometimes, and you may be getting it right. Some altcoins have a high profit, but the risk is as high as the profit. 

Bitcoin as an indicator? I didn't quiet get tha. Are you trying to say that when the price of Bitcoin increase you assume that price of other coins will also increase and vice versa, so you are linking Bitcoin's price movement to gauge if market is bullish or bearish but at the same time, that sometimes work only during the bull run not throughout the year and also other coins may provide better profit but cannot guarantee how long it may last as Altcoins may pump and dump, just take example of coins like coti, xvg on how soon it may drop down.

I am using btc as indicator as well, but can you explain what you mean by this? Because i am having a hard time grasping what do you mean by increasing ownership, and how would that be an indicator for risk?

It's always risky. There's no such thing as a safe time to invest except in hindsight. That's why people profit from it in the first place, they take a high risk if they want high reward. It has been risky from the start, even though it wouldn't seem like that looking at the chart. But there was way more fear and risk back then. People who think they would have invested if they knew, they most likely wouldn't, for the same reason they are not investing now. Because compared to back then, we are now in safe zone, and people think this is dangerous time to invest.

The proportion of Bitcoin’s supply to profit is very high and reaches the same area as the 2019 secondary peak. It also matches the peak of 2020 (in blue) before the halving.
Bitcoin may extend to $62,000, but the risks are high, especially with the increasing ownership that could shake digital currencies at any moment.
I treat Bitcoin as an indicator of the market and do not invest in it. Naturally, the profit percentage in other currencies is much higher, except for those who bought Bitcoin at cheap prices and are long-term investors because it has a guaranteed asset and less risk in dealing compared to other currencies.
With the rising open interest rate to an unprecedented number and the increasing profit ratio against supply, and the rise in Bitcoin’s price to levels never seen before in the past before the halving, it indicates a change in Bitcoin’s behavior. Everyone should be prepared to accept the upcoming movement.
I reiterate that everyone will benefit, God willing, from the upcoming bull market in alternative currencies. It is a mistake to rush and enter now until we see the market’s reaction to Bitcoin’s movement and its indicators BTC