Bitcoin token price is sliding further each day as the market is uncertain and has frequent fluctuations in values of all significant cryptocurrency values. It has been argued for the longest time that holding onto the cryptocurrency tokens gives out unimaginable profits to the traders as the prices of the introductory tokens start from scratch and go higher in price with time and according to the market trends.
The cryptocurrency market is suffering as many significant decisions have gone against the use of cryptocurrencies, as China imposed a blanket ban on the cryptocurrency trade within the country. In India, the banking and regulatory authorities have been unable to provide a solid stance on the use of cryptocurrencies, leaving a grey area for the banks to play along as they like. Most banks in India had even started sending out account suspension warnings to their customers who have been actively involved in the cryptocurrency trade. These factors are leading to extreme discomfort in the Indian trading community.
The individual accounts that hold large numbers of cryptic values, better known as the whale accounts in the cryptocurrency trade industry, are examples of long-term investments that have resulted in unreal profits to the account holders. Recently, an inactive account holding 900 bitcoins since 2012 has been revived, which cost the trader roughly $13,000, and the valuation today for these cryptocurrencies is about $33 million. Thus, in 9 years, the cryptocurrency investment jumped more than 2,000 times, which teaches us a valuable lesson on patience in the cryptocurrency trade at times when the currencies are at their low points and hold onto them for as long as possible to maximize the return on investment.
A Dogecoin address holds 3,671 crore dogecoins that are roughly equivalent to 23% of the total supply in the trade market and has a $12 billion monetary value, which was much less at the time of investment. However, in the last two months, Bitcoin has more than quadrupled In value, indicating the long-term benefits of holding onto such a volatile digital currency, which tends to ease through with every bit of fluctuation in the market, be it some tweets or some regulatory actions. Currently, one can own a bitcoin for around $36,650 or 2.6 lakh rupees per token. These values are at a low of two months as many regulatory authorities are planning against the use of cryptocurrencies, and after Elon Musk brought out the issue of excessive energy consumption and carbon footprint to light. The market trends have been rather surprising. According to market analysts, there is a lot of potential in these token values to rise significantly with time, and advice to keep the tokens for longer durations to gain unreal levels of return on investment.