In one year, most of Bitcoin's rally usually occurred within a few days. Therefore, the "Hold Bitcoin" strategy is still considered the best, according to Binance Research.
In fact, in one year, the pump for Bitcoin only happened in a few short days, and most of the rest was sideway. Therefore, it is easy for investors to miss the pump if they are not regularly watching the market.
According to the recently published data, since 2013, the annual growth performance of Bitcoin only occurred in about 10 days, which means that each year we will have 10 days that Bitcoin actually increases aka "pump". After this 10 days, Bitcoin will go sideway and the growth performance may decrease by 25%.
Therefore, the actual pump of Bitcoin is very short, it is only a blink of an eye compared to the rest (sideway or decline).
However, there are also many ideas that "not every Hold is the best". If a person held bitcoin before December 2017 until now, they would still lose more than 50%.
If you are an investor who does not have much time to observe the market, nor know the analysis of charts, then the Hold option is the best for you.
And for investors who like to "trade", certainly Hold is not their choice, because the short-term waves are the time when they make the best profit.
How about you? Are you holding Bitcoin
Holding bitcoin is still one of the most reliable. But if it takes only 10 days each year to get Bitcoin pumped, then it is discouraging to raise the hope of investors on the presumed 50 to 100 thousand increase of Bitcoin. Should we say that these prices are hyped to attract investors, while speculators make their massive gains in every pump? Binance is a top crypto exchange that makes it reliable when it comes to crypto data analysis.
Despite all the analysis, i am holding bitcoin and also have a portion for day trading.