The new outlook for the current market situation has seen some new economic and global assets emerge in the market. This has made this time more relevant. For example, holdings of microstrategies or unique public companies are increasing. Historically, the US state of Arizona has recognized Bitcoin as an asset. I think this will increase the legal status and acceptance of Bitcoin. I think that long-term holding will benefit from the opportunity to reduce the average price over time.
Do you think Bitcoin can reach $100k in the next six to twelve months?
The market price of Bitcoin is currently $109,000 and above. But yes, if all these big companies invest, the price of Bitcoin may increase. Because there are many people who do not do their own research, they rely on others. For example, if a big person or big company invests in a place, they also invest there. They think that these big companies are investing, it means that they are investing because they will benefit from it. But
certainly no big company invest in anything that they have not done thorough research on and found it to be profitable. it is the reason why institutions and whales keeps joining bitcoin because they understand that bitcoin is an asset that is worth being invested into. as an investor, you have to also do this analysis and but that is not just enough for you to be profitable in your investment for the long run.
you don't have to base your investment decision on just when big institution comes into the system and then you invest at that time and when you think some big companies are exiting the system you also think of running out. that kind of approach is a traders mindset that is just after short term profit and not an approach that stands to be profitable in the long run. for the sake of having good profit as an investor in the long run, the approach should be that you are buying even when the market seems very much uncomfortable. it has to be that you are buying both at the DIP and also at the time that the market is doing extremely well. in the process, you are able to build your portfolio into something that is big in the long run.
it is not ideal to compare your investment strategy with that of big investors or whales that are already doing well knowing fully well that the resources that the majority of them have to invest is something that you might not have access to.
It is never right to depend on anyone for investment. Always do your own research and then invest. Bitcoin is the best investment for investing in digital currency. If you invest by relying on someone, then you can get cheated in many cases, so always depend on yourself.
investment is a personal journey. the strategy might be similar to an extent but that being said, the fact that each investor has different degree of availability of resources makes it practically difficult to make your investment based on a third parties approach.