How to make money on Bitcoin in a month, you will be told by those who bought cryptocurrency back in January-February and was able to earn about 300% on this in three months. Following the bitcoin, other cryptocurrencies also rose, showing an increase of over 100%. Does it make sense to give in to the desire to buy a cryptocurrency, read on.
How to make money on Bitcoin in a month
When an institutional investor enters the market, the asset begins to grow slowly but surely. Immediately a wave of growth picked up by those who are closely watching the market. Having seen an avalanche-like growth, the market includes those who have little understanding of market trends, but want easy and fast money. And at that moment, at the peak, the institutional investor leaves the market, rolling down quotes. Someone manages to close positions, and someone hastily tries to sell the asset, but there are no buyers.
This is a classic bubble pattern, which, according to skeptical analysts, formed on the cryptocurrency market. Their argument:
- Only Bitcoin has status in market economies. The remaining cryptocurrencies are not accepted for payment, and therefore can not be considered as a full-fledged investment asset. The growth of their prices is speculative;
- The growth driver was Japan, which recognized Bitcoin as fiat money in April. But the first ETF fund did not work, talks about increasing the number of coins are still talk;
- China and Japan have a big influence on the course. Enough slightest precautionary measures to derail the course.
A few facts for those who are still willing to give in to the desire to take a chance and make money on Bitcoin and other cryptocurrencies:
- in the 20th of May (less than a month ago), the Bitcoin rate almost reached $ 3,000. USA. Just a day later, the subsequent correction depreciated Bitcoin by almost 17%. The total capitalization of cryptocurrency from 90 billion dollars. The US fell to 67.2 billion in a few hours. Other popular cryptocurrencies (Litecoin, Ethereum) fell by 23-30%;
- Bitcoin capitalization is about 30-33.5 billion dollars. USA, about 45-50% of the total capitalization of cryptocurrency. The number of dollars in the world is estimated in trillions, therefore it is unlikely that soon Bitcoin will become a full-fledged means of payment;
- at an average market rate of 2800 dollars. US exchange rate margins can be up to 200 dollars. USA. Due to the dramatically increased number of transactions, you need to increase the amount of commission, transactions take several hours, which, with the current volatility, means an incommensurate risk of loss.
Conclusion. How to make money on Bitcoin for a month? Take advantage of Bitcoin ATMs, not so long ago appeared in the CIS countries. Invest only on a pullback to the levels of 2400-2500, take into account the margin of 100-200 dollars. USA. And yet we would advise you to adhere to a conservative policy. It is impossible to deny the fact that blockchain is the technology of the future, but fiat money is the basis of the domestic economy. And countries are unlikely to be able to switch to an anonymous e-currency in the near future. Cryptocurrency has no drivers for growth in the short term, but by buying Bitcoin now, in 3-5-7 years you can earn at least 100% of the profits on it. A 20% stable income per year is a good result.