The historic sell-off a few days ago created a nice dip for investors to take advantage of. Bitcoin is hovering around $32000 at the time of this article being written. The volatile nature of cryptocurrencies makes it hard to predict what will happen next, but right now, Elon Musk along with Twitter CEO Jack Dorsey is being fairly active on the media platforms. Jack Dorsey confirmed to investors that Bitcoin will be a “big part” of the company’s future. The Twitter stock price jumped up on Friday after the news.
On the other hand, Elon Musk, the man who started it all, stated in an interview that he plans to hold bitcoin long-term. During the B-word conference, he mentioned that Bitcoin is his largest cryptocurrency holding, above ether and dogecoin. Though experts warn that cryptocurrency is a risky, speculative investment, if you own or are going to buy bitcoin, other experts agree that Musk’s long-term holding strategy may be the best practice.
We love to hear new ideas from traders and want to know what you think!
If you like this topic and want to suggest future topics that you find helpful, let us know by clicking the ‘submit your feedback’ button below.
Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite.
Nothing contained in this website should be construed as investment advice. Any reference to an investment's past or potential performance is not, and should not be construed as, a recommendation or as a guarantee of any specific outcome or profit.