Insight

Bitcoin – the black swan or just one of the many white swans

March 15, 2020

Bitcoin, the new big thing. The poster child for the Digital Assets-revolution. No matter how you choose to call it, nobody would deny it has the ability to make people emotional.

Bitcoin was created for a Peer-to-peer network to generate what was described as a system for electronic transactions without relying on third-party control.

The Digital Assets fell from $7,200 to a 10-month low of $5,678 in just 15 minutes on 12th March 2020, a result of a flash crash trade. What followed the next trading day was a technical sell towards $3,800 the low made in early 2019.

The traditional belief has been that holding Bitcoin can make you millionaires, the primary reason was, that is was launched as an alternative medium of currency.

Rallies from $750 to a peak of $20,000 and then a sharp drop towards $3,500 and a recovery to $14,000 with currently trading at $5,200 makes it a perfect candidate to trade Bitcoin both sides of the market.

With exchanges offering future and margin trading on Bitcoin, investors can buy or sell Bitcoin depending on the trend of the market. Whether Bitcoin goes to $100,000 or $1,000, Bitcoin is here to stay

So are you the black swan or one of the many white swans!

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