The digital market is very volatile. The market is unpredictable and it is not profitable to invest in digital currencies, who said so? The leading digital coin, Bitcoin (BTC) is 98.66 percent capable of being profitable and is able to revert back your investments. Yes, you heard it right the leading digital currency is found to have been profitable for 3,817 days out of its 3,869 days of its existence. The prominent cryptocurrency analyst has found that people only left during the downturns that the coin faced. On the other hand, the people who stayed even during the downturn and never exited had made most of the profits.
Hodling Bitcoin has been profitable for 3817 days out of a total of 3869 days. That's 98.66% of bitcoin's history.
Green shows where buying bitcoin has been profitable.
The only people that have actully lost money with bitcoin, have just been impatient. ? pic.twitter.com/kq82I6QTtR
— Rhythm (@Rhythmtrader) August 9, 2019
Bitcoin (BTC), in fact, all the flagship coin has to go through the test that they are an ideal investment or not. The debate is ongoing and the recent revelation has given digital coins the boost at least the Bitcoin (BTC). The staunch supporters of Bitcoin (BTC) believe that the coin is as safe as the gold. The coin just like gold is a rare find and once the value is stored the value can be extracted when in need. On the other hand, critics believe that the coin is very volatile and cannot be trusted.
As of writing this article Bitcoin (BTC) is trading at $11,707.15 against the United States Dollar (USD) and showing at 0.83 percent positive growth. The market cap is $208.77 million against the United States Dollar (USD)and the 24 hours trading volume is 17.83 million.
Some people among then are daily based traders who let go of the flagship coin when it is showing downturn and hence believes that it is volatile on the other hand there are daily investors ho are constant with the coin.
Cryptocurrency analyst Tony Vays believes the following on Bitcoin (BTC)
“Bitcoin might be the greatest store of value in the history of the world. Yes, it’s volatile — as it’s only been useful for about seven years — but its ‘un-confiscability’ property is unmatched. That is its true store of value, as gold is confiscatable and all other assets even easier.”
The general trend of the coin is also dependent on the approach of the traders and investors and hence the coin will fluctuate according to their stance in the market. If they show more support for the coin it will not fluctuate and if they do not believe in the coin then it can fluctuate.