Can I buy bitcoin?
The most well-known characteristic of Bitcoin is its price volatility. Bitcoin has experienced a number of rapid declines and rises in its price. In mid-December 2017, Bitcoin hit an all-time high of $850. But a few days later, it plummeted to $12,000 and plummeted to $7,000 in February of the following year. Sometimes the price dropped $2,000 in just an hour.
No one knows how much the Bitcoin price will change in a year. Theoretically, this could possibly drop to $0. And maybe we can stay at the same level we are now, or jump double, triple, or even quadruple or tenfold. No one knows exactly what the price of Bitcoin will be, and no matter how advanced their price prediction techniques are, it is unpredictable.
John McAfee, for example, is very optimistic about the future of Bitcoin, in his Twitter message that he will appear on a nationwide terrestrial broadcaster if the price of BTC does not exceed $500,000 in the future. He even professed to eat his own X. On the other hand, Warren Buffett has predicted that Bitcoin will eventually end up badly .
The most well-known investment strategy in the cryptocurrency community is the so-called ‘hodl’, which involves holding on to an asset rather than selling it. The expression became popular after a drunk user used the phrase ‘I am hodling’ on a Bitcoin forum in December 2013. The expression became known as a joke from then on, and today it has become a common slang term in the cryptocurrency community. Hoddle is also known as an acronym for ‘hold on for dear life’.
Last but not least, remember this one fact. In other words, Bitcoin is an extremely high-risk investment asset and you should never invest money that you can’t lose. We’ve already warned you, so be careful.
What is a ‘Bitcoin Whale’?
The whale is the largest animal in the world, and the Bitcoin Whale is the largest investor in the Bitcoin market. In many cases, they are not individual investors, but institutional investors, such as hedge funds or Bitcoin investment funds. Examples include Pantera Capital, Bitcoins Reserve, and Bitcoin Investment Trust.
These institutional investors often buy and sell hundreds of thousands of bitcoins. Their transaction history is very secretive, and they enter into special trading agreements with exchanges and usually trade huge amounts of coins without being noticed by investors.
According to a recent Bloomberg article , at most 1,000 or so investors own 40% of the total market in crypto assets. In fact, they own a fair amount of assets, and selling only a few of them could cause the market to crash.
According to one study , there are currently 25 million investors around the world who own Bitcoin. However, one interesting fact is that if you own only 0.153 BTC in terms of Bitcoin holdings, you can climb into the top 30% of the total. On the other hand, to be in the top 1% of the total, you must have 15 BTC.