History tells us that the investors who did not sell their Bitcoin holding in turbulent times are still profitable and analysts suggest that holding will prove to be the best strategy once the market starts recovering. According to the historical price action of BTC, losing spot positions when the market crashes violently is a bad investment call. Analysts Suggest holding Bitcoin for Long-Term Like every other asset listed publicly, the flagship currency has witnessed several bull runs and bearish cycles in its eleven-year lifetime. The fact that if you purchase an asset at its all-time high and the market crashes afterward, you are going to face losses for a longer period of time compared to those who took a position in the asset at lower levels and did not sell off their holdings. Historical patterns of Bitcoin have taught the investors that the chart remains skewed to the upside and the cryptocurrency has managed to bottom out every bullish-to-bearish cycle and regains all over again to seek new ATHs. The brain behind the broadly circulated Stock to Flow model, Plan B predicts the price of Bitcoin at $288,000 by 2024 referring to the ability of the cryptocurrency to return profits to the patient investors in a tweet on Friday morning. PlanB’s Long-Term Bitcoin-Related Projects The long-term projects make the cryptocurrency appear like an asset that would keep siphoning the capital out of the traditional markets. PlanB wrote in his 2019 paper: “Silver, gold, countries with [a] negative interest rate (Europe, Japan, US soon), countries with predatory governments (Venezuela, China, Iran, Turkey, etc.), billionaires and millionaires hedging against quantitative easing (QE), and institutional investors discovering the best performing asset of the last 10 yrs” will influence people to seek safety in bitcoin.” The scarcity of the cryptocurrency forced him to envision a trillion-dollar market capitalization for the cryptocurrency.
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