Bitcoin’s Curious Case: To Invest Or Not – That Is The Question

Bitcoin’s consolidation over the past two months pushed crypto investors into a dilemma, letting investors wait for a directional move. 

Bitcoin (BTC), the big cheese of the crypto market, has confused crypto investors and has not shown any sign of a directional move. The coin remained in a consolidation phase for the past two months after hitting its all-time high of $73K, putting investors in a dilemma. 

Bitcoin’s Standing Confused The Investors; Why? 

BTC’s current performance has put crypto investors in a dilemma, making investing risky. April’s halving event and BTC’s all-time high in March put the king of crypto into a consolidation state.  

At the press time, BTC was trading at $64,281.51 after an intraday surge of 0.72% with a market cap of $1,265,496,294,261. Since March, BTC has shown no signs of directional move or breakout, ranging between $73,000 to $60,000.           

On May 1, Bitcoin broke the trend by reaching $58,2522 but bounced back, putting it back in the consolidation phase. Investors are waiting for a higher rally or a downtrend. 

BTC’s uncertainty also made the altcoin’s market risky, strengthening the altcoin’s value in the crypto space. ZetaChain (ZETA) price best showcases the scenario. ZETA was trading at $1.78 after a surge of 7.72% in a day.  

As a result, investors and traders need clarification and are likely to lose money.

Invest In BTC Or Not? Here’s What To Consider 

The optimal strategy to address the dilemma is to exercise patience, a virtue that is often challenging for many traders to uphold. Another approach is adopting a long-term investment mindset, which involves purchasing undervalued cryptocurrencies with solid fundamentals.

Another tactic is to make market moves based on significant events or news. Lastly, monitoring market trends to pinpoint which alternative cryptocurrencies or sectors are demonstrating resilience is beneficial. 

Once these robust altcoins are identified, investors can capitalize on the momentum. 

BTC Network Celebrating 1 Billion Transitions 

On May 6, BTC Times told its 167.2K X followers about BTC’s accomplishment with its first 1 billion transactions. 

As a Satoshi-era wallet awakened, the BTC network crossed 1 billion transactions in block 842,241 at 05:34 UTC+8 on May 6. Over 687 BTC worth $43.9 Million were split and transferred to 2 addresses.

According to the founder of the Orange Pill App, BTC reached this milestone in 15 years compared to Visa’s 25 years.

Adarsh ​​Singh

Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.