One of the most common questions asked by both Bitcoin pros and newbies is how to make the best out of BTC in 2021. The volatility of Bitcoin Price is a widely known factor. People saw the different drama that came with BTC in the year 2020, and they wouldn’t want to miss out on Bitcoin investment this year. Let’s assume you spent less than 1 cent buying Bitcoin in 2009; the 1 BTC you bought then will currently be worth over $35,000. In other words, investing $100 in Bitcoin in 2009 means you will currently be worth over $180 million.
That is not baiting but a real analysis of how the Bitcoin ecosystem and BTC price has grown over the years. During those years, it hasn’t been all bed of roses. There have been spikes and dips. However, in the long run, investing in digital assets looks more profitable.
The number of retail clients willing to invest in BTC keeps growing, and the major concern is that only a few people have a clear understanding of how to invest in Bitcoin and how the market works. This is the essence of writing this article. If you want to know the best Bitcoin investment tips for 2021, ensure you read this article till the end.
Bitcoin Price trend
It is an undisputed fact that we have seen BTC gain value over the years. Bitcoin price upwards and downward movement have made some people turn their back, and some are still exploring the positives. Analysis has also shown that Bitcoin might still sell at hundreds of thousands of dollars.
If you are more concerned about when to invest in BTC in 2021, try waiting for the period when the price of Bitcoin is on a downward trend. It is also important to add that there is no perfect time. You will never know when an upward trend will follow the downward trend. You don’t know if the downward resistance level is strong enough to prevent further downward movement.
There are positive potentials for bitcoin investment. If you are a small investor, don’t put all you have into Bitcoin. Start your investment with a small amount, study the market before adding more investment. When the bitcoin price and market are stable, you can put in more investment.
Investment tips that will help you make a profit in 2021
There are many investment and trading strategies you could apply in 2021. Making a consistent profit is the only proof that a strategy works. Regardless of your strategy, here are a few tips to help you stay ahead in the market.
Ensure you have a straight forward financial goal
You can have different ways of investing in Bitcoin. Your investment goal might be long term or short term. If you are familiar with day trading, making interest in the short term is feasible. On the other hand, long term investment will take off the stress of following daily and weekly bitcoin trend. You can set a long term goal of keeping your bitcoin until the bitcoin price hits $50K. Irrespective of the investment goal you have, ensure you make it clear and work towards achieving it.
Let your investment have a dollar-cost average
It is an undisputed fact that bitcoin has outperformed other digital assets in the last ten years. At the same time, it is the most volatile. If you are inexperienced, you might have issues when bitcoin dips. A practical example is when bitcoin dipped by 50% (from $10K to $5K) in the first quarter of 2020. An inexperienced investor might want to cut losses and take out all funds. On the other hand, a patient investor that held on to BTC will be smiling now that BTC is above $35k.
A good strategy is to have a dollar-cost average. This means your investment will be periodic. You might choose to invest $500 on the first day of every month. This will help you make your cost price variable. It will also reduce the effect of short term volatility.
Ensure you diversify investment
One of the most important strategies is diversification. Don’t put all your eggs in a single basket. The meaning of that statement is: don’t pump in all your crypto investment in bitcoin. There are other cryptocurrencies like Ethereum, Litecoin, Ripple, etc. Diversifying in other cryptos will help you cover up for the loss if the bitcoin investment doesn’t go well as planned.
Top questions on bitcoin investment
How much should be committed to bitcoin investment in 2021?
You can never have an exact amount that is worth investing in bitcoin. Your financial goals, budget, investment plan, and risk level determine how much you will invest in bitcoin investment.
Will bitcoin have a move similar to what happened in 2020?
It is an undisputed fact that the bitcoin price went up by 4X in 2020. Nobody can predict what bitcoin has in store for 2021. This is more reason why the dollar-cost average investment strategy is a good option.
How do I go about my investment?
Ensure you invest through a regulated and widely accepted exchange. Make your deposit and indicate the amount you are willing to invest in BTC.
How much is the minimum I can invest in BTC
BTC is not a discriminating form of the digital asset. You can invest as low as you want and as high as you want. The fact that you can buy smaller units of bitcoins called satoshis makes investing smaller amounts easy.
Can I lose money?
Any investment can turn out positive or negative. You can gain or lose money in BTC investment. If you buy when the current bitcoin price is high, and your investment plan ends when it’s low, you might run at a loss.
The ultimate tip for anybody interested in Bitcoin is to learn about the intrinsic values of the groundbreaking digital currency. There are various ways you can invest in bitcoin. The tactics that work for Mr. A might not work for Mr. B. The bitcoin fluctuation rate, the time you will sacrifice to monitor the bitcoin price, bitcoin trend, and market, and your ultimate goal will influence your strategy.
Glo-sponsored African Voices brings back Mo Abudu, 2 others in compilation edition
African Voices Changemakers shows on DSTV CNN Channel 401 on Saturday at 9.30 a.m. and 12.00 p.m.
The compilation edition of African Voices Changemakers, the Globacom-sponsored magazine programme of the Cable News Network (CNN), this week brings back to viewers media mogul, Mo Abudu, and two other talents who are positively affecting the African continent.
The two others are 30-year-old Elijah Amoo Addo, a Ghanaian chef and food stylist who has become a social entrepreneur through his creation of “Food for All Africa”, and Karabo Poppy Molestane who in 2019 made the Forbes list as one of Africa’s Foremost Under 30 CEOs.
Abudu hit the limelight with her talk show, Moments with Mo, on which she brought many issues to public attention through interviews with top personalities, the needy and citizens with mental health issues. In 2006, she founded her own TV channel, Ebony Life Television, which is received by viewers in over 49 countries across Africa, the UK and the Caribbean.
Ghana-based Addo uses advocacy and a food-sharing mobile phone app to feed thousands of vulnerable children through food recovery and redistribution. In collaboration with local restaurants, supermarkets, food distribution companies and rural small-hold farmers, Addo’s organization collects leftover food or unwanted food that is close to its ‘use-by’ date and redistributes it to disadvantaged children in orphanages, hospitals and low-income schools.
Born in Vereeniging, South Africa, Molestane is a multi-award-winning Illustrator, graphic designer and street artist who is committed to the preservation of her cultural heritage. She is renowned as a Nike shoe designer and basketball court murals artist who has equally worked with the Wall Street and on Netflix’s Strong Black Lead season.
African Voices Changemakers shows on DSTV CNN Channel 401 on Saturday at 9.30 a.m. and 12.00 p.m. Repeat broadcasts will be aired on Sunday at 4.30 a.m., 7.30 a.m., 12.30 p.m., 7.30 p.m. and on Monday at 12.30 a.m. and 5.30 a.m.
Unilever sets out plans to help build a more equitable and inclusive society
Unilever’s ambition is to improve living standards for low-paid workers worldwide.
Unilever today announced a wide-ranging set of commitments and actions to help build a more equitable and inclusive society by raising living standards across its value chain, creating opportunities through inclusivity, and preparing people for the future of work.
Unilever’s main commitments include:
- Ensuring that everyone who directly provides goods and services to the company earns at least a living wage or income, by 2030
- Spending €2 billion annually with suppliers owned and managed by people from under-represented groups, by 2025
- Pioneering new employment models for our employees, and equipping 10m young people with essential skills to prepare them for job opportunities, by 2030
Alan Jope, Unilever CEO, explained, “The two biggest threats that the world currently faces are climate change and social inequality. The past year has undoubtedly widened the social divide, and decisive and collective action is needed to build a society that helps to improve livelihoods, embraces diversity, nurtures talent, and offers opportunities for everyone.
“We believe the actions we are committing to will make Unilever a better, stronger business; ready for the huge societal changes we are experiencing today – changes that will only accelerate. Without a healthy society, there cannot be a healthy business.”
Unilever’s ambition is to improve living standards for low-paid workers worldwide. The company will therefore ensure that everyone who directly provides goods and services to them earns at least a living wage or income, by 2030. The company already pays its employees a living wage, and they want to secure the same for more people beyond its workforce, specifically focusing on the most vulnerable workers in manufacturing and agriculture.
In addition to improving living standards through economic inclusion, Unilever is also critical about creating more opportunities for people from under-represented groups – both within and outside of the organisation. Diversity in the workplace directly results in improved financial performance through its capacity to foster innovation, creativity, and empathy.
Speaking further Jope said, “As we help to build a more equitable and inclusive society, we recognise that changes to the world of work will affect the employment prospects of many people. Many current ways of working – roles, places, hours, skills – are rapidly evolving. We have a responsibility to generate and sustain employability, by preparing our employees and other people beyond our organisation for the societal and technological changes that are taking place.”
Beyond its immediate organisation, Unilever plans to help equip 10m young people with essential skills to prepare them for job opportunities, by 2030. “By investing in skills-building and providing work experience opportunities for young people, we will drive growth, and accelerate digital capabilities, building expertise and increasing productivity.” Jope said.
Unilever is one of the world’s leading suppliers of Beauty & Personal Care, Home Care, and Foods & Refreshment products with sales in over 190 countries and reaching 2.5 billion consumers a day. It has 150,000 employees and generated sales of €52 billion in 2019. Over half of the company’s footprint is in developing and emerging markets. Unilever has around 400 brands found in homes all over the world, including Dove, Knorr, Dirt Is Good, Rexona, Hellmann’s, Lipton, Wall’s, Lux, Magnum, Axe, Sunsilk and Surf.
Unilever’s Sustainable Living Plan (USLP) underpins the company’s strategy and commits to:
- Helping more than a billion people take action to improve their health and well-being by 2020.
- Halving the environmental impact of our products by 2030.
- Enhancing the livelihoods of millions of people by 2020.
The USLP creates value by driving growth and trust, eliminating costs and reducing risks. The company’s sustainable living brands delivered 78% of total growth and 75% of turnover in 2019.
Since 2010 we have been taking action through the Unilever Sustainable Living Plan to help more than a billion people improve their health and well-being, halve our environmental footprint and enhance the livelihoods of millions of people as we grow our business. We have made significant progress and continue to expand our ambition – in 2019 committing to ensure 100% of our plastic packaging is fully reusable, recyclable or compostable by 2025.
While there is still more to do, we are proud to have been recognised in 2019 as sector leader in the Dow Jones Sustainability Index and in 2020 – for the tenth-consecutive year – as the top-ranked company in the GlobeScan/SustainAbility Sustainability Leaders survey.
For more information about Unilever and its brands, please visit www.unilever.com.
For more information on the USLP: www.unilever.com/sustainable-living/
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