Home Finance Bitcoin Rollercoaster: Can You Survive a Huge 50% Drop?

Bitcoin Rollercoaster: Can You Survive a Huge 50% Drop?


Cryptocurrency investing is not for ordinary investors. You should have a high risk appetite and be able to ride rollercoasters. recent fall Bitcoin (BTC) has nothing in common. However, it crushed crypto bulls who declare it to be digital gold.

BTC started with a bang in January 2021, climbing above the ceiling, crossing US$63,500 on April 13, 2021. But the rally did not last for three and a half months. The world’s most popular digital currency has started falling. Spikes and dips followed until it closed at US$37,332.86 on May 31, 2021.

Freefall is yet to come

Crypto loyalists expect a huge recovery. Instead, predictions abound that freefall is not over. Nikolaos Panigirtzoglu, a strategist JP Morgan And one bitcoin expert has warned that is not the end of the month-long journey.

Panigirtzoglu’s research note to clients reads, “The long-term signal remains problematic, as it has not yet turned short. Before long-term momentum will signal capitulation, it will still see a decline in price to US$26.” 8,000 level.”

Similarly, tweets Tesla CEO Elon Musk didn’t help. While Musk revealed that the electric car maker had not sold any BTC, his criticism continued. Tesla’s announcement of suspending car purchases using cryptocurrency has also led to a drop in prices. It seems that Musk is now in favor of Dogecoin.

weak institutional demand

Panigirtzoglu believes that BTC’s wild swings over the past weeks represent a setback. He added that increased volatility compared to gold hinders institutional adoption of crypto markets. He said the attractiveness of digital gold versus traditional gold in institutional portfolios has diminished.

Coinbase CFO Alessia Haas said of the BTC price crash, “I think people who are new to this space may have underestimated the volatility that can be seen in this market.”

far better option

between bitcoin and docebo (TSX: DCBO)(NASDAQ:DCBO), i would choose canadian technical stock Without any hesitation. The $2.04 billion company that provides cloud-based learning management systems has yet to realize its full potential. At $63.51 per share, the tech stock trades at a discount (-23% year-to-date).

Docebo’s Q1 2021 results (quarter ended March 31, 2021) were nothing short of spectacular. Its revenue and subscription revenue grew 61% and 91% versus Q1 2020. Similarly, the number of customers using the cloud-based learning management system increased by 27.4% to 2,333.

Management launched the Docebo Learning Suite during the quarter. The comprehensive learning technology platform includes Docebo Learn LMS, Docebo Shape, Docebo Content and Docebo Learning Impact. Notably, Docebo’s learning suite goes beyond content delivery. It can address challenges throughout the learning lifecycle.

Other business highlights include signing a new customer contract with Lightspeed POS. In the sports vertical, Docebo signed new customer agreements with First Tea and Spurs Sports & Entertainment. Company ISV Partner Path of . also participated in heroine Web Services (AWS) to broaden its market reach. Docebo can tap into a number of tailored programs to access AWS’s resources and partner network.

extreme volatility

Bitcoin turned off many investors in May 2021. The collapse showed its true nature again: extreme instability. Investors should forget crypto and invest their money in companies with well-developed growth plans like Docebo.

Can investors stomach bitcoin’s wild swings and massive price drop?

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This article represents the opinion of the author, who may disagree with the status of an “official” recommendation of Motley Fool Premium Service or Advisor. We are motley! Questioning an investment thesis – even our own – helps us all to think critically about investments and make decisions that help us become smart, happy and prosperous, so We occasionally publish articles that may not conform to recommendations, rankings or other content.

John McKay, CEO of Whole Foods Market, a subsidiary of Amazon, is a member of The Motley Fool’s board of directors. silly contributor Christopher Lew Have no position in any of the stocks mentioned. David Gardner Owns shares of Amazon and Tesla. tom gardner owns shares of Tesla. The Motley Fool owns and recommends shares of Amazon, Docebo Inc., and Tesla. The Motley Fool owns shares of Lightspeed POS Inc and recommends the following options: long January 2022 $1920 call on Amazon and short January 2022 $1940 call on Amazon.

Disclaimer: The opinions expressed within this article are the personal opinions of the author. The facts and opinions appearing in the article do not reflect the views of knews.uk and knews.uk does not assume any responsibility or liability for the same.

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