Still, investing in cryptocurrencies has become increasingly popular, especially because of how easy it is to buy into them. One way to protect yourself from selling at a loss is to commit to holding the asset long term.

BTC is with over $64,000 record it hit back in April. Several leading cryptocurrencies have also seen big gains, most notably Ethereum, Binance Coin and Polkadot. The latest rally is the beginning of a major bull run that will see bitcoin and other cryptocurrencies blast past their previous records in the final months of 2021.

Many cryptocurrencies like Bitcoin and Ethereum are launched with lofty objectives, which may be achieved over long time horizons. While the success of any cryptocurrency project is not assured, if a cryptocurrency project achieves it goals, then early investors could be richly rewarded over the long term.

Bitcoin and cryptocurrency prices are not totally dependent on China. However, ultimately, China is likely to become the world’s most regulated crypto hub and will definitely have a continuing impact on the demand and price of cryptocurrency.

Making Bitcoin’s price predictions is not an easy task. Bitcoin cycles every four years through the process of halving, with the next having coming in 2024. The currency’s price will go up again as a result of a reduction in the supply.

 I am paying attention to Kraken which have 80+ cryptocurrencies with an array of options both for retail investors and institutional investors. When it comes to global support, Kraken has a bit more reach than Binance.US. The exchange currently supports traders in nearly 200 countries.

Astonishing rise in the price of the first cryptocurrency BTC already this year, shows it will be so powerful that the current bitcoin maximum will cease to surprise anyone. It is worth noting that making any long-term predictions about bull run, which depends on the will of Bitcoin whales and which can calmly move the asset’s price both up and down, is a difficult task.

I believe in the old crypto coins. BTC as the most the world’s oldest cryptocurrency isn’t the only also Ether, Cardano, Ripple and others have all surged in popularity since their inception. Every such ‘altcoin’ and BTC is large enough to be valued in billions of dollars.