Bitcoin price is looking to maintain support at the $44,000 USD level heading into the next month. The price of Bitcoin saw a minor dip in price over the weekend, before bouncing back above $45,000 USD. Some analysts are pointing out that more miners are selling, which has resulted in the latest dip.
While this might sound like a reason for caution, it might be bullish in the long-run. According to Glassnode, the Bitcoin Spent Output Profit Ratio (SOPR) has seen a “full reset”, meaning profit-taking might have abated and long-term investors will be looking to hold
The daily #Bitcoin Spent Output Profit Ratio (SOPR) has seen a full reset, and turned negative for the first time in five months – investors were on average moving BTC at a slight loss, indicating profit-taking has abated.
Chart: https://t.co/Nx2Ulu6AwZ pic.twitter.com/xxwE31aB5k
— glassnode (@glassnode) February 28, 2021
Decentrader co-founder Philip Swift also noted that the SOPR dip is worthwhile considering as a metric in the market’s future health. He believes that this is a possibly bullish point in the crypto market, especially in conjunction with last week’s funding rates which have historically been followed by a price hike.
As he noted:
Spent Output Profit Ratio (SOPR) has now reset (green on the chart) meaning that wallets selling are now selling at a loss. This is a strong ‘buy the dip’ signal in a bull market.
This alongside derivative fundings having reset is bullish.#Bitcoin pic.twitter.com/Ns8Ltw0Aog
— Philip Swift (@PositiveCrypto) February 28, 2021
March a bearish time for Bitcoin
Many traders, however, remain cautious about where Bitcoin might be headed this month. Historically, this time of year has had a hard time gaining and maintaining strength. Last year in March, Bitcoin saw a crash in price before gaining back its value over the year. Experts believe that this current price level of Bitcoin, between $44,000 USD and $45,000 USD remains the key level to watch.
The post Is March going to be a bullish month for Bitcoin? appeared first on Coin Insider.
Many people think that investment is buying and selling things. That it is buying low and selling high. However, investment is much more than that. The word investment is derived from the Latin “investigation” or “asset.” To invest is basically to put your money into the anticipation of a gain in the near future.
For instance, you are planning on using the cash within a year or so to purchase stock within your portfolio. You have two options: short-term investing and long-term investing. Short-term investing is where you are investing money that you will use within one year. This can be done through various ways such as borrowing against your CD’s, getting a line of credit, or even using a savings account.
Long-term investing is where you are investing for several years or more. Many people choose long-term investments because of their earning potential. There are a lot of great investments available today and it’s possible to start investing in your fifties and sixties. When you start investing for that long-term period of time, it is recommended that you take the time to educate yourself about investments and how to determine what investments are good and what investments aren’t. Educating yourself is absolutely essential if you want to have a solid chance of making a profit.
If you are looking at long-term investments, there are various options including stocks, bonds, mutual funds, and other types of investment. Each of these investments has varying risks and rewards. With investing for the long-term, you are basically protecting your wealth. Some of the investments that are available include: Treasury bonds, Certificate of Deposit (CD) accounts, Money market funds, and investment banks such as BBVA Bananas and Merrill Lynch.
A higher price will always generate more income. So while it is true that the higher price of an item will usually generate more income, you don’t want to overpay for the item just to generate income from it. You should do your research to determine an item’s value and how much you can spend to make it more affordable. Overpricing can result in loss instead of generating income for your investment portfolio. It is important that you know the value of your investments and what you can spend to make them more affordable.
Lastly, there are several mutual funds that are classified as growth oriented. These types of mutual funds are great investments for the long-term because they rarely lose money. Because they are so stable, it is usually safe to invest with mutual funds and receive a very high return on your investment dollars. However, it is important that you do your own research to determine the appropriate investment mix for your own individual needs.