Is Bitcoin still profitable in 2023-2024?

 16 April 2023 Di: Redazione

is Bitcoin still profitable in 2023 2024? That’s a good question!

In matter of digital asset, cryptocurrencies exists since 2009 and we are going through an important phase: the Bitcoin halving, on 2024. This could represent the key event to going towards a concrete stabilization of the whole market: We believe the time is ripe for all this!

According to the analysis made with the previous cycles, Bitcoin and cryptocurrencies are more estimable in term of price action.

We are a cryptocurrencies forecast website, and our goal is to follow the market mainly keeping an eye in adoption of technologies instead of technical analysis, but we are convinced that the halving could repropose a big spike as we seen on 2021.

Apart from this, we mainly focus on three points:

  • Technology adoption and speculation
    It’s pretty clear that Bitcoin is here for stay and reperesents a future of freedom: more and more people will be involved in it in the next years. The crypto market overflows of speculation and demonstrates that it’s not a bubble: this is a fact.
  • International acceptance
    Governments, banks, institutes investing in blockchain technologies. Not just El Salvador, the future of money will probably be CDBCs, but governments and institutions will not be able to ignore Bitcoin.
  • Media spotlight
    Who attracted lots of investors in 2021? well, obviously, the mass media who have continuously talked about crazy prices on the crypto market.
    Media will be inevitably talk about that as soon as these price conditions reoccurs, and it will happen.

 

BUT…let’s focus on how to make money with cryptocurrencies. I’m pretty sure you really want to know how to make money from Bitcoin &co. 

So… my 2 cents:

1) “Short term” trading is difficult, avoid it

Avoid short-term trading as it is a difficult task that requires a high level of skill and knowledge. If you’re not proficient in it, don’t be a fool and lose your day behind graphs and analysis. Classical trading means making more money with cryptocurrencies if you are a professional! But sometimes trading works for altcoins, when you pump and dump over a few months, but it involves a great deal of risk and expertise. So, don’t do that.

The reality is that you can’t change your life only with a long-term strategy. However, focusing on a long-term investment strategy can yield profitable returns. Even if you’re not a trader, you can still make money with cryptocurrencies by investing with a sound strategy and understanding market signals. Traders have the minimum knowledge to understand and try to anticipate the market, which you probably don’t, but that doesn’t mean you can’t be successful.

I’ll be honest; after spending a lot of time looking for decent tutorials and courses on the internet, it’s time to be extremely fair: Do your own research and consider a DCA (dollar-cost averaging) investment approach. While there is no quick fix to changing your financial situation, taking a long-term approach to investing can lead to success.

So, the tip is: do your own research and make a DCA investment. 

If you need a FREE STRATEGY USING DCA this free Telegram group will show you how to reach 25K from ZERO in 12 months.

 

2)– Exchanges are still useful, but only for buying

Use exchanges, but don’t keep your money in there.

If you want low rates and NO KYC check out:

    • MEXC – NO KYC exchange, Low rates, credit card accepted, biggest crypto listing, based in Singapore

    • Huobi Global – Great user experience, very low fees, credit card allowed and awesome support
    • Cex.io – If you love mobile apps try this!!! Low rates, great mobile app, awesome support 

Once Bought, stay away from exchanges and keep your tokens safe!

This is one of the best thing I did:

 

Fuck Ledger and all hardware wallets

They will not store all your cryptocurrency assets in the most secure way. They are intermediary. Stay away and go for a paper or a self made hardware wallet.

In the end we believe that the real next bull run will starts on late 2024; So there is enough space to make DCA and try to get rich slow and steady.

Autore: Redazione