bharatbhasha.com
Free Articles  >>  Business And Finance >>  Page 1  >> 

Why Bitcoin Longest Run Above 10 000 dollars Matter





The beginning of the year saw BTC hovering around US$7700 mark and at such times, the addresses of Bitcoin miners stood at 684,000 but back in the past, a significant rise of 981, 000 Bitcoin addresses certainly at the same time when prices were US$9500 specifies that BTC adoption betters when prices rise. That’s what happened on December 23, 2018, when BTC was trading at US$14,800, a time when the market was super bullish for BTC. At such times, the incentives related to mining significantly multiplied manifolds encouraging investments in BTC and retention. A good sign nevertheless for the miners since one mining activity roughly costs miners US$3,000 as we write this.

Considering the present price of BTC at US$10,000, there is a significant US$7,000 in profits for mining activities. Besides, it is not necessarily as simple as making paper boats since mining demands significant hardware maintenance and they come at a cost. On top of that, you do not necessarily mine one BTC in a single day, few have to wait for months to get one single BTC for their efforts. If they are mining in places where power-cost are significant, pool fees are high, labour cost considerable, you could roughly make not even 0.1 BTC as profits since BTC mining could take sometimes more than a month. In this way, retaining the BTCs for a better bull run where the market goes beyond US$10,000 will likely make more sense to investors looking for considerable profits.

Growing Adoption Model To Evolve above US$10,000

The narrative of Warren Buffet makes sense when he said: “ Be Fearful when Others are Greedy and Greedy When Others Are Fearful”. The DeFi boom has certainly given a fresh push to Ethereum, but BTC has shown significant stability in the last 5 years by maintaining a US$10,000 stable price on an average run evoking trust further. It is well over the threshold limit of US$7500, considered a border-line investment for sustainability for miners, making more people mine Bitcoin and participate in the block validation activities. Especially during the prevailing CoronaVirus times when job opportunities are rare to find and BTC mining paves the way for better returns, the pandemic has emerged as a blessing in disguise for the cryptocurrency market.

At present, miners are not likely to sell off their BTC since they anticipate that the halvening effect will further push the prices, incentivizing them in the process. They are also hugely counting on the trade-war with US-China that has significantly impacted other investment portfolios, making BTC even outsmarting the yellow metal i.e. gold. Such developments likely summarize that BTC will hold considerable value after the Chinese government planning to launch their Central Bank Digital Currencies (CBDCs) or digital Yuan and Japan already acknowledging BTC as a legal tender and setting up vending machines where you can easily buy BTC with credit or debit card or even fiat money.

17 Million BTC Mined, Halvening Could Push Retention Rather Investment

In the market, often sentiments govern how asset-trading by other investors pushes the demand. Since we are looking at a larger schema and BTC price expectations are likely to hit a US1,00,000 dollar mark by the time the next halvening or halving effect sets in for the 2024 quarter, there is greater scope for improved price variance and optimism in the theory of holding the asset. BTC is largely driven by investor sentiments when hacks and bugs in the system completely take-away the trust, the fall is imminent. But improved security standards and minimum hacks pertaining to BTC have pushed sentiments ahead, establishing a bull run recently. As a result of enhanced expectations of growth after the halving, the demand for BTC is on the rise and it still holds as the highest crypto by volume as per market capitalization. The investor market has been highly speculative of BTC and they are buying it as a safe-haven similar to gold, often termed as Bitcoin gold.

With a maximum 21 million cap, 17 million already mined and up in the market, a US$10,000 mark is a trigger point for investment in BTC as we likely see more adoption and scarcity of BTC after each halvening will make the investment process advantageous. It is highly unlikely however that miners will be selling the BTC at a loss when prices fall below US$10,000 since the mining costs are expected to double by the next halvening event that is most likely to happen in 2024. As the investors anticipate that US$100,000 could mean more and more people retaining BTC or rather buying more of BTC and that’s what is happening at the moment as the daily net growth of BTC is consistently rising, the bullish run is most likely to continue till the end of 2021. Juxtaposing the same, where just 21 days in the past had shown a negative outlook where people started giving away BTC, we likely see positive trends ahead. The only determinant that could likely shun off the retention rate will be stricter regulations or big hacks that could likely take away the bullish run, but lately, that has been significantly mitigated as the network has turned much more robust and reliable for long term investment goals.

Disclaimer:

The views expressed are personal and should be taken as an investment guideline. It is always best to consult experts like PCEX Member when you wish to trade in cryptocurrencies, especially buying BTC with debit or credit card. They are real experts to help you understand the market dynamics and take the right financial course for maximum benefits.

visit to Buy Bitcoin in India : https://www.pcexmember.in/buy-btc-online-india
About Author Rahul Kohali :


Article Source: https://www.bharatbhasha.com
Article Url: https://www.bharatbhasha.com/finance-and-business.php/495453


Article Added on Friday, October 30, 2020
LD
Other Articles by Rahul Kohali

5 Best Reasons to Invest in Bitcoin in 2020
Undoubtedly, digital media has taken giant leaps in the delivery of information, communication, and of course technology in the past few years. This leap has also made way for the digital currencies/payments to take the center-stage amid the rise of e-commerce and digital banking/financing products. Bitcoin is the hottest digital currency around the globe and is the most lucrative product in the finance and investment industry. BTC is up by 64% from January 2020 as the gravity-flouting...

Hards Forks and Soft Forks Explained In A Nutshell
Have you ever done an update on your phone? Bet, you have. There’s an update of some new features or terms/conditions added by the company that they wish to integrate to the app. These terms and conditions are self-imposed or centralized, meaning, the company or app provider might not ask you to agree to the same for enforcement and integration. So, simply a pop-up and you are good to update your app anticipating some new features to fall into place. Sounds simple, right! With that said, the...

Even After Many Doubts Why Cryptocurrencies Still Have Value
When we talk about cryptocurrencies, the revolutionary transformation it has brought certainly takes everyone off their seat. Now you can send money from one pole to another in a flash, or invest in growing DeFi projects rather than keeping your money in saving accounts and get benefitted in manifolds. That’s why in one way or the other, cryptocurrencies and blockchain technology has revolutionized finance. Yet, a few scams like Ponzi, Mt.Gox, Bitfinex, and Binance often raise the stimulus in...

Top 5 Reasons Why Ethereum Is Best Crypto for Investment
Ethereum empowered the blockchain’s adoption that transcended beyond the exchange of value via Bitcoin by deploying decentralized solutions in process management. Whether it was to mitigate complex documentation in the maritime sector or making the supply chain future proof, smart-contracts powered by Ethereum Network have made operations simpler for businesses. One could well say the cliche “ good going Ethereum,” but was that enough? Perhaps, the potent of the Ethereum Network was yet...

The Difference Between Centralized and Decentralized Crypto Exchanges Explained
The cryptocurrency market has been in full blaze lately with 20x to 200x returns at the fore-front for INR to BTC or INR to ETH (Ethereum) pairs. With a lot of optimism during the CoronaVirus period about cryptocurrency trading and the explosion of DeFi projects, BTC and ALTCoins are grand dominators in the investment market. Nevertheless, scams have severely tarnished the images of top cryptocurrency exchanges like SushiSwap’s (Vampire Attack), Binance, BitFinex, BitMax raising the panic...

Publishers / Webmasters
Article ID: 495453
DELINK URL from Authors Bio
REMOVE Article
Tell A Friend
Leave A Comment!
Download this article in PDF
Report Article!
Search through all the articles:


125 Users Online !
Related Articles:
Latest Articles:
 
Business And Finance >> Top 50 Articles on Business And Finance
Category - >
Advertising Advice Affiliate Programs Automobiles
Be Your Own Mentor Careers Communication Consumers
CopyWriting Crime Domain Names DoT com Entrepreneur Corner
Ebooks Ecommerce Education Email
Entertainment Environment Family Finance And Business
Food & Drink Gardening Health & Fitness Hobbies
Home Business Home Improvement Humour House Holds
Internet And Computers Kiddos and Teens Legal Matters Mail Order
Management Marketing Marriage MetaPhysical
Motivational MultiMedia Multi Level Marketing NewsLetters
Pets Psychology Religion Parenting
Politics Sales Science Search Engine Optimization
Site Promotion Sports Technology Travel
Web Development Web Hosting WeightLoss Women's Corner
Writing Miscellaneous Articles Real Estate Arts And Crafts
Aging


Disclaimer: The information presented and opinions expressed in the articles are those of the authors
and do not necessarily represent the views of bharatbhasha.com and/or its owners.


Copyright © AwareINDIA. All rights reserved || Privacy Policy || Terms Of Use || Author Guidelines || Free Articles
FAQs Link To Us || Submit An Article || Free Downloads|| Contact Us || Site Map  || Advertise with Us ||
Click here for Special webhosting packages for visitors of this website only!
Vastu Shastra

Linux Web Hosting Provided By AwareIndia







Company IDS