A 4-year-old girl profited by more than 6500% with BTC
The reputation of digital money is rising to unprecedented heights, as is user trust. This is aided by the increased use of bitcoin, including at the state level. Major online shops now accept bitcoin, allowing the currency to continue to grow at a significant rate. The evolution of cryptocurrency is also linked to the adoption of new technologies for holding money and the advancement of mining. Cryptocurrency investment, on the other hand, is a fantastic long-term potential that frequently surprises. Keep reading the article to discover how a 4-year-old Brazilian girl profited with BTC.
Indeed, it is not only a promotional header but also the real case that happened in Brazil to João Canhada. Back in 2017, João Canhada, the CEO of the Brazilian cryptocurrency exchange Foxbit presented his daughter 1 BTC as a birth gift, valued at around $ 915.80. According to him, the present was not only a gift but “…as a way to invest in this new economy. Back then, BTC cost 5,000 Brazilian reals”. By the way, value of BTC has reached $66,000 a few days ago, hiting its historical high set at the beginning of 2021.
Four years later, one bitcoin investment yielded a 6,500 % return when the price of Bitcoin surged to $60,000 again. However, no one can predict how quickly the crypto sector will flourish or what highs bitcoin will achieve. Bitcoin has been quickly increasing since 2017 and has never fallen below the $1,000 mark. Oh, if we only knew…
According to analysts, the value of cryptocurrencies will rise. However, there may be periods of “stagnation” or “non-critical decline” when positions do not move. It is also worth noting that long-term investments of a year or more provide significant benefits to the investor and nearly never fail, whereas short-term investments will be highly unproductive if the market falls temporarily. However, the DCA strategy is quite a favorable option to reduce risks since it presupposes buying a fixed amount of currency during some period (e.g. week or month). DCA allows you to stay up with the market by making regular coin purchases. This essentially decreases losses while increasing the possibility of earning more on the upcoming surge. The biggest disadvantage of averaging is that it only works in the long run.
The crypto industry never fails to surprise us with its constant advances and technologies. As a result, the person who is not familiar with the crypto market can easily get confused by numerous trading notions, strategies, indicators, and other stuff. In this case, the first crypto trading platform bit4you has launched an Academy educational section with all the necessary information to become a more advanced crypto investor. Expand your choices for managing cryptocurrency risks with bit4you Demo mode and virtual $100, 000 on your account.
Begin with a demo account to become acquainted with various trading and investment techniques, enjoy the benefits of having more than 25 crypto assets in your wallet, and improve your abilities in reading technical indicators on charts and diagrams. Finally, it is a well-known fact that the cryptocurrency market is volatile and its rates are unstable. They can change even in a blink of an eye! Be confident in your trading with the bit4you trading platform and do not let the crypto market confuse you.
Valentina BEREZA, Team bit4you