Bitcoin’s price is rising at an exponential rate and people are in awe of what seems like the highest bull run ever for the crypto. As Bitcoin passes the $10,000 dollar mark, it seems as if the crypto is approaching its highest market value ever.
The community of crypto enthusiasts are understandably buzzing with speculation and excitement about where the crypto is going to head next. However, there is a subtle undertone of apprehension in the market about the future of crypto, and what the correct course of action should be for those who are currently holding BTC. It’s currently holding somewhere around $10.7K.
Well presently it looks like the crypto industry is enthusiastic about this bull run and they are cheering the surge ahead of BTC, but they are also aware of the catastrophic bearish downfall of BTC last year. Which is why, they are also looking to exercise caution when dealing with crypto.
Interestingly, Reddit is currently the most active hub of discussion about crypto as most users are discussing and debating on what the future course of action should be for investors.
The majority opinion is that of holding on to the assets, because most of the community believes and hopes that the price will rise further. Another reason is that BTC is gaining mainstream acknowledgement steadily, which is why many holders are hopeful that they will soon be able to use crypto to buy houses or cars or other tangible assets.
However, there are some who believe that its better to be safe than to be sorry. They are of the opinion that a price drop will soon be a reality in BTC’s trajectory, which is why their advice is to sell of a significant amount, while holding on to enough, so as to profit is and when the price rises again.
Personally, I believe that the price will continue to see more upwards momentum, which means that it would be foolish to sell it off now. However, conduct a thorough market research and use reason to decide your next course of action.