Is Bitcoin’s Rise Written in the Stars?

Just over 12 years ago, the Bitcoin revolution began. It was the 11th of January, 2009,


when Satoshi Nakamoto sent the first Bitcoin transaction to Hal Finney. Fast-forwarding to today, the cryptocurrency markets have exploded over the end of


2020 and beginning of 2021 and there have also been some crazy stories doing the


rounds. From theories put forward by internet-famous astrologists, to popular


trading exchanges’ Bitcoin supply running dry, we wonder where Bitcoin and Altcoins


are headed in 2021.

In less than one month, Bitcoin’s market value doubled from a new all-time high


above 18k to an even higher record at $40k on the 8th of January, 2021. For HODLers


and Bitcoin investors, this news was long-awaited and very, very welcome. Following


a 28% crash after reaching the new high, Bitcoin has been steadily recovering and


reached the $38k mark once again just a week later.

Naturally, crypto-sceptics did not see this coming. Could anyone have predicted just


how far this bull run would go? Even the exchange platform eToro could not keep up


with the exponential burst in demand for cryptocurrencies by traders looking to buy


Bitcoin over the weekend! Sadly, this also meant wider spreads for eToro’s 17 million


newly registered users. If this bull run persists, other crypto exchanges might even


follow suit.

Is now a good time to buy crypto?

The serious surge in crypto investors has understandably caused some concern


around its supply. But there is another way to go about it. By trading CFDs on


cryptocurrency pairs such as BTC/USD, traders can benefit from price movements by


going short or long on the asset. Plus, trading CFDs allows users to apply a good


amount of leverage to their trades in order to make the most of even the slightest


price movement.

The Word on the Web

As Bitcoin continued its impressive rise, there have been some wild theories


circulating the internet. Firstly, a self-described astrologer Maren Altman has been


explaining to her followers across Youtube, TikTok and Twitter that the price


movements of cryptos are written in the stars, providing them with astrology-based


advice on when to purchase BTC and other coins.

Speaking of altcoins, there are a few of them that always seem to make headlines


whenever Bitcoin turns bullish. One example is Dogecoin – you may have read Elon


Musk tweeting about it – which has risen 163% over the past month and has been


listed on two new exchanges. And as for celebrities riding the crypto bandwagon,


Lindsey Lohan has even appeared in a video promo for cryptocurrencies telling


viewers to drive their “Lambos to the moon”.

Say no to FOMO

From your next-door neighbour to the millionaires you see on TV, everyone is


becoming more interested in Bitcoin. According to Google trends data, web searches


for Bitcoin increased rapidly throughout the past month as the asset’s price rose.


Retail investment has also surged in recent weeks, as more investors turned towards


crypto.

Are you experiencing FOMO over Bitcoin’s recent bull run? Start trading CFDs at


Cedarfx.com today! With up to 1:100 leverage and a 0% Commission Account option,


CedarFX helps traders make the most of their funds.


Sign up at www.cedarfx.com.