The current Bitcoin price spike has exited the crypto goer. There seems to be an increased Bitcoin demand which appears to send volatility up. Is it time to HODL or sell? In my opinion, this is the worst time to start buying BTC.
The current spike is somehow wild and has happened in the past. The current pump appears to be driven by the recent PayPal entry into the crypto space. Getting the BTC pie is not an easy task for the ordinary adorer and this is a huge block towards adoption.
Bitcoin Demand and BTC Price
The demand for BTC is on the rise and this appears to push the price up. This is an opportune time for whales to play around with the market while the ordinary user is struggling to accumulate. Speculators on the other hand are fence sitting to exploit the opportunity.
In the next few weeks we experience wild patterns in the market. Many have developed thick skins towards the digital money market and are willing to take the risks and hold BTC while there are those waiting for the sell signs to offload; with profits of course.
Bitcoin Demand and Altcoin Trends
It is no secret that when Bitcoin demand increases the ripple effect is felt in the altcoin space. Many ordinary crypto goers are trying to accumulate altcoins in the hope that they will offload later after making profits. This radical though has seen altcoin prices head north albeit in the short run.
However, the current Bitcoin demand and price spike is no guarantee altcoins will follow suit. It makes sense when you look at individual altcoin projects to make the right investing decisions. With increased crypto user cases, it is easy to decide whether you are going after BTC or altcoins that are backed by real world user cases.
