News outlets, Cryptocurrency analytics websites, and social media channels have been abuzz in the past week or so. Most discourse has focused on the unexpected surge in value that has affected Bitcoin (BTC). Over the past week, coinmarketcap.com reports that Bitcoin (BTC) has risen approximately 7% in value.
This modest bump has caused quite a stir, and that’s no surprise. In the previous months, all currencies, including the mighty Bitcoin (BTC) have been either stagnant or depreciating. After a long drought – a period that is known in the community as a ‘Crypto Winter,’ good news has finally arrived.
This might all sound perfect but put your wallet back in your pocket, dear reader. Some things are too good to be true, so let’s approach this phenomenon with caution.
In this article, we’ll explain the reasons behind this surge, and give you a few reasons why you should think carefully before you go out on a limb and grab yourself a bunch of BTC.
We’ll also introduce you to an up-and-coming cryptocurrency option that, surprisingly, might be a better bet: Big Eyes Coin (BIG).
Bitcoin Booming; Bet Big or Bite Down?
As we mentioned, Bitcoin (BTC) jumped 7% in the past week. Also of great interest to analysts and community enthusiasts was the unexpected feat of the coin breaking past the $20,000 price point. Many pundits had opined that BTC might never reach this milestone again after its titanic crash last year.
These are all good signs, right? Absolutely. Once again, the father of all cryptocurrencies has surprised everyone with its fortitude and longevity.
However, let’s take a look at the bigger picture. While this bullish moment is a happy time, it may not last. Investment is likely to slow in the next few months – with the ongoing war in Ukraine, and various European Governments levying sanctions on the importation of Russian gas and oil products, the cost of living in Europe is rising sharply. The continent is preparing for a lean, difficult winter.
With times getting harder in one of the major cryptocurrency markets, many token holders may withdraw their earnings to date or cut their losses if they still have significant capital locked up in Bitcoin (BTC).
It’s also prudent to take a longer-term view of Bitcoin’s trends. A little over a year ago, Bitcoin (BTC) was peaking at an eye-watering value of nearly $70,000. In just a year that tanked to under $20,000. Does a modest rise, only peaking over $21,000, really bode that well for the health of the currency?
It also seems that the market movement of Bitcoin (BTC) has slowed dramatically in this time period. Just this month, major financial institution JP Morgan estimated that almost 80% of all Bitcoin (BTC) Tokens had not been involved in any transaction in the past six months.
What this means in practical terms is that the value of this token is no longer being determined by its true market value. Instead, it’s heavily reliant on believers who are holding onto their assets with dogged determination.
While this is admirable, it means that Bitcoin (BTC) is not being used or traded in meaningful quantities anymore – a death knell for any stock, cryptocurrencies included.
So, unless you’re a big risk-taker, think twice before you invest a lot of money into Bitcoin (BTC). This coin is dying, slowly but surely. Any bumps in value now are the equivalent of death spasms.
Big Eyes Coin: A Better Bet?
There is an alternative cryptocurrency (also known as an ‘altcoin’) that could prove a better investment if you’re someone who likes to look to the future rather than the present.
Big Eyes Coin (BIG) is brand new on the market, and still in its presale phase. Investing at this stage of a coin’s life is often the best way to maximize your profits, as any and all future gains in value apply to investments you make now.
Rather than being an overly-grown and struggling behemoth, Big Eyes Coin (BIG) is baggage-free but packed with heaps of potential.
Tax-free transactions, zero hidden fees, a plan of action to confirm the trajectory of the currency, and plans for future NFT integration make this among the most exciting of newly debuting currencies.
The Big Eyes Coin (BIG) presale has already been a huge success: this phase has raised $9.2M already, proving there’s a market of hungry consumers for this token.
Final Thoughts
It’s easy to get caught up in the hype machine that is the cryptocurrency news cycle. Every jump, every bump, every bounce of every ounce warrants a torrent of social media posts, articles, and memes encouraging people to buy, sell, trade, hold, hodl, and everything in between.
It would be wise to exercise caution, as it always is in matters of investment. It might appear on the surface to be a great time to hoover up as many BTC as you can afford, but there may be a cold patch coming for this leviathan currency.
Furthermore, alternative options exist, which may well grant greater returns than the more established coins.
If you’ve liked what you’ve read and want to get hold of some Big Eyes Coin (BIG) for yourself, make sure you use the promo code: BIG410 to earn yourself bonus tokens when you buy from the Big Eyes Coin (BIG ) website.
Also, don’t forget to check out Big Eyes Coin (BIG) on their website and on social media by clicking the following links:
Big Eyes Coin (BIG)
Website: https://bigeyes.space/
Telegram: https://t.me/BIGEYESOFFICIAL
Twitter: https://twitter.com/BigEyesCoin
