Bitcoin, Ethereum Technical Analysis: BTC Nearing $25k and Banks Face a Very Unfortunate Surprise
It looks like the banks are in for a wild ride as Bitcoin (BTC) and Ethereum (ETH) soar to new highs – BTC has already sailed past the $24,000 mark and looks to be heading towards the $25,000 mark. What’s more – banks are scratching their heads as the exodus of deposits begins.
The truth is, the banks could have seen this coming. After all, BTC and ETH have been on a tear throughout 2020, with BTC gaining 174% while ETH has gained an incredible 300%.
Now, there’s obvious excitement as people anticipate a new era of decentralized finance and digital assets. Still, some people might be wondering – is it really a good idea to throw so much money into Bitcoin and other cryptocurrencies?
What’s the Technical Analysis Say?
Let’s look at the technical analysis. Generally speaking, BTC is in a stable uptrend, with the technical indicators suggesting that a strong rally is likely to happen. What’s great is that, while there have been a few dips, the dips have been minor and had little long-term impact.
The same is true for Ethereum. ETH is also in an upswing, with plenty of support at current levels. It’s also worth mentioning that Ethereum is getting closer to its all-time high of just over $1400.
Is It Worth Investing in Bitcoin and Ethereum?
So, is it worth investing in Bitcoin and Ethereum? Well, it really depends on your risk appetite. If you’re comfortable with volatility, then Bitcoin and Ethereum could be great investments.
However, it’s important to understand the risks involved. Just like any other investments, there’s no guarantee of a return. That said, if you think you can handle the volatility, then Bitcoin and Ethereum could be great investments for you.
What’s the Verdict?
The truth is, Bitcoin and Ethereum can be great investments. They have some of the highest upside potential out of all investments, but also some of the highest risk.
So, as we move into 2021, do your own research, understand the risks involved, and decide for yourself if investing in Bitcoin and Ethereum is the right move for you.
And, of course, let the banks fret about their dwindling deposits… there’s nothing they can do about it anyway.
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