Cryptocurrency

Interpret Bitcoin & Altcoin market reports to make them profitable for you

Market reports are very critical for any investor and same goes with cryptocurrency markets as they provide investors and traders with up to date reports about daily up and down trends in crypto markets as well as news and analysis that could impact the markets.

For years, “hodling” bitcoin investors have been rewarded with exuberant returns on their investment. Since the start of the year, however, bitcoin “hodlers” have witnessed their investment taking a beating, which begs the question, is “hodling” still the best strategy when investing in bitcoin? This answer could easily be inferred from market data available through a number of websites and information portals across the globe.

Same goes for traders who are constantly buying and selling cryptos. Consider today’s scenario of how the bitcoin price dropped by nearly 4 percent almost immediately after the US Securities and Exchange Commission (SEC) denied the Winklevoss bitcoin ETF earlier today. A sudden drop in the price of BTC from $8,300 to $7,900 led other major digital assets and small market cap tokens to fall substantially in both value and volume. Consequently, the crypto market lost $11 billion in valuation overnight, primarily due to the short-term decline of BTC.

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About the author

Richard Newman

Richard Newman

Richard is the Editor-in-chief of Bitcoin Journal. He has over 10 years of experience with the news industry mainly handling the editorial cycle.

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