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| Don't sell! Wait till July |
Bitcoin's future looks uncertain after Crypto Market refused to rebound.
After a week of distress and torture for Crypto investors
in which the value of bitcoin dramatically fall causing immediate panic among
new inexperienced investors. Finally, the crypto market moved up on Monday. After
dropping to less than $32,000 on Sunday, the price of Bitcoin climbed beyond
$39,000 on Monday.
The latest drop was a significant reversal for Bitcoin,
which had appeared to be gaining acceptance with large Wall Street banks and
publicly traded firms. This month, though, bitcoin has been hammered by a slew
of bad press from influential figures and regulators.
Elon Musk, the CEO of Tesla, fueled optimistic
enthusiasm when his business disclosed in February that it had purchased $1.5
billion in bitcoin. When he stated earlier this month that the automaker has
banned vehicle purchases using the cryptocurrency due to environmental
concerns, Bitcoin took a hit. Musk then conveyed conflicting messages regarding
his bitcoin position, hinting in a tweet that Tesla had sold its assets only to
later clarify that it had not.
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| Logic is what Elon likes Most |
As an investor from Pakistan, this wild fluctuating Bitcoin in 2021 has ensured one thing: the future of money will be electronic, but it will not resemble a cyberpunk utopia in the least. The power of the people will not allow billionaires like Elon Musk to play will people’s lives.
The euphoria and fear that has engulfed decentralized cryptocurrencies are enhancing the appeal of its upcoming competitors: central bank-issued digital cash. These tokens will be conservative and generalizable. These dangers are not new. Authorities created a trust gap with the public by neglecting them to the point where mortgage-related financial losses had to be socialized. Techno-anarchists broke through it with the template for an electronic payment system based on cryptographic proof rather than trust.
My advice to all the new investors out there is less is more don’t sell cheaply wait for the right moment. According to many experts I trust that the right moment will come in July 2021