Bitcoin, the top cryptocurrency company, has experienced a difficult time in recent years as bitcoin’s value tumbled along with the market capitalization. The market value of Bitcoin plunged significantly on May 19, and the price of bitcoin has remained stable at an average level since then.
The value of bitcoin remains enormous and immense, regardless of the market crash. However, short-term investors who suffered a loss from the crash are unsure whether they should invest in bitcoin.
Although bitcoin’s value may have dropped following the crash, it has resolved some problems. The crash has relieved the bitcoin mining industry. Crypto enthusiasts have also acknowledged the resilience of decentralized finance and exchange platforms in the event of a crash.
Investors are curious about whether to invest in bitcoin after the crash. There are websites which can help you purchase bitcoins via Paypal and make profitable results. These are just a few of the reasons you should invest in bitcoins after the dip. Let’s take a closer look.
How Did Bitcoin Become A Dip?
The bitcoin dip shocked all entities of the bitcoin network, as bitcoin’s value fell in an alarming amount. The value of bitcoin and almost all other digital coins declined to an exorbitant extent.
The fact that bitcoin fell half a percent from its highest price in just a few weeks after the market crash may shock you. After the crash, the bitcoin value was only $30000, while the value for ethereum was $2200. The average price of bitcoin fell by 30%, while ethereum’s value dropped by 45%. These are just a few reasons bitcoin experienced a dip.
US Crypto Panel –United States made a huge profit last year from bitcoin, thanks to crypto investors who earned a staggering $400 billion dollars. The growing interest in cryptocurrency by investors has prompted the United States to create a new cryptocurrency panel. This panel will have strict rules about bitcoin and other digital currency.
Elon Musk-Elon Musk was the co-founder and CEO of Tesla motors. This electric car company is based in California. Elon Musk is the most active entrepreneur within the cryptocurrency industry. Elon Musk also passed several statements about bitcoin. Most of these statements were in support of bitcoin and had a positive impact on the bitcoin price. The tweet by Elon Musk, 13 May, which stated that bitcoin would be suspended as a payment option for a while, however, has impacted the bitcoin’s value to an extreme extent.
China announcement Similar to the United States of America, investors in China were similarly investing huge amounts of money in bitcoin to receive a passive income. China announced recently that it would be cracking down on cryptocurrency. China announced on the 18th of May that it would crack down on cryptocurrency. This led to the cryptocurrency market crash. The crackdown didn’t stop bitcoin trading or investment progress, but it did include rendering services about cryptocurrency and banning Bitcoin mining. It is also the main reason for the cryptocurrency market crash.
Why You Should Invest in Bitcoin!
It is important to sell low and buy high when trading and investing. Bitcoin’s value is currently low, but it’s worth investing resources if it does rise. Although bitcoin may decline further in the coming months according to some economists, the technical analysis of bitcoin shows that bitcoin has different aspects.
According to a few reliable sources and technical breakdowns, bitcoin stays stuck at an average price for quite some time after a cryptocurrency market crash. In the next month or so, however, bitcoin begins to grow and then halts at an extraordinary milestone.
Bitcoin surpassed $65000 in April after the cryptocurrency market crash of 2020. Bitcoin is worth investing even after the cryptocurrency market crash, as many multinational companies support it.
These are just a few of the key reasons to invest in bitcoin.