Bitcoin Skyrockets 80% YTD: Should You Invest Now?

• The cryptocurrency market remains resilient despite a wave of bad news in 2022, with Bitcoin trading above $30k and up 80% YTD.
• Hoarding in personal digital asset wallets has increased as Bitcoin’s price jumped above $30k, indicating investor confidence in the cryptocurrency industry.
• Despite negative news such as the FTX collapse and 300 lawsuits, the market has bounced back demonstrating its resilience.

Cryptocurrency Market’s Resilience

The cryptocurrency market has remained resilient despite a wave of bad news in 2022. Bitcoin trades above $30k, up 80% YTD and hoarding in personal digital asset wallets is on the rise after Bitcoin’s price jumped above $30k, showing investor confidence in the industry. This is particularly impressive given that one Bitcoin was priced at 5 cents just 13 years ago. Despite negative news such as the FTX collapse and 300 lawsuits, the market has bounced back demonstrating its resilience.

FTX Collapse

One of the biggest pieces of negative news to hit the cryptocurrency industry was the collapse of FTX which turned out to be one of largest frauds in recent history. This caused a bear market for investors since November 2021 which saw bitcoin drop from $69K to $15.5K within months. This lead to over 300 lawsuits targeting crypto companies and scared away many investors due to lack of regulation on cryptocurrencies worldwide.

HODLing Strategy

A research from Bank of America shows that HODLing might be one of the secrets behind bitcoin’s success as it continues to stay strong despite all odds against it. HODLing refers to holding onto your coins rather than selling them off quickly when prices start going down or increasing rapidly when prices go up; essentially riding out both waves until you are able to reap bigger rewards towards long-term gains instead of short-term ones from volatile and unstable markets like this one currently is.

Risk vs Reward

As with any investment there is always risk involved but for those who are willing to take on that risk could see large returns due to bitcoins current strength right now against other commodities like gold or oil which have been struggling recently or currencies like USD or EURO which have been weakening over time due to inflation rates being high and central banks pumping money into economies worldwide without much control over where those funds end up going afterwards (quantitative easing).

Investment Advice

Ultimately if you decide you want to invest into cryptocurrencies then do so carefully as there is no guarantee that you will make money off it; however, if done correctly there could be potential for large returns depending on where you decide invest your capital into specifically whether it be stocks related to cryptos or buying actual coins themselves through exchanges (which comes with its own set risks).