Disclaimer if you buy or sell bitcoin it is at your own risk any advice given is not representative of the sites opinions or views.
Bitcoin volatility is nothing new for the millions of traders and users alike. Bitcoin markets have moved into a healthy position over the last week as traders regain confidence. Last month markets did get volatile as hacks and exchanges made the economy fall on hard times. However as the new month begins so does a new start for Bitcoin as prices have significantly recovered to current levels of over $620.
The week started off on a sour note as market conditions remained around the $550 range as volumes swole to over 300 million dollars over a range of exchanges. Indicating a sell off as the investors finished prices made a quick recovery indicating a sign of correction back to figures of over $600. It seems as if positive news from the British banks to fast track blockchain developments may have prompted investors to bet on the long term viability of Bitcoin as prices level off. However with little support at current levels it may be a matter of time before a dip occurs.
Speculation To Buy Or Sell Is The Question
To conclude considering the current Bitcoin market it would be wise to sell 20-30% of holdings to gain some liquid asset. The prices are fairly volatile and support is seeming to strengthen at levels of $600 which were held for a considerable period of time in the last month, However as we have seen prices can dip and similarly to Naira investments, diversity is key to keeping a healthy portfolio. I would give Bitcoin a mild sell tag currently and prices should settle back at the $600 range where support is remaining strong on a number of exchanges. You can sell your Bitcoin at the NairaEX exchange, Nigeria’s leading Bitcoin exchange. Your Naira will be delivering within a matter of hours to the account specified. Good luck and happy trading!