We love that our Peers love bitcoin. After a few busy months of gathering and coaching our first battalion of Peers, we’re starting to see our future crypto leaders in motion! They’re not solely actively bringing in new customers to Paxful, however generously sharing their two cents on bitcoin buying and selling—particularly since bitcoin simply hit $10Ok lately! Take a glance and see how it’s possible you’ll profit
You don’t should have hundreds of trades and buying and selling companions to be an influential Peer. Ow, certainly one of our first Peers, is a comparatively new, however formidable crypto fanatic from India. He joined Paxful solely four months in the past, however has earned himself 21 commerce companions and optimistic suggestions from 24 customers on the time this text was written. As a job mannequin, Ow has his electronic mail, telephone, and ID verified and is prepared for extra!
Ow’s favourite factor about bitcoin
Albeit a brand new dealer, Ow seizes all of the alternatives he has to coach others, particularly rookie merchants, about bitcoin. In his recent blog, he takes his reader via the journey of understanding bitcoin in a manner that’s tremendous simple to grasp.
“Bitcoin is an open-source peer to peer money, which … operates with no central authority or banks. … Being an open-source with no central public authority, [bitcoin] is public and no single unit owns or controls it. Every stakeholder is equally involved and can take equal part in it.”
Bitcoin is well-liked for a lot of causes, one being its adaptability. You can select to purchase 10 bitcoins at a time, or a hundredth (or much less) of it, relying in your price range and commerce quantity. With the chance to divide bitcoin as much as eight decimals, merchants have numerous freedom to resolve what they do with it. Bitcoin is a forex that doesn’t discriminate.
Explaining the present bull market and its implications
After introducing bitcoin in easy phrases, Ow delves into the present bull market—however first, what does a bull market even imply?
“A bitcoin bull market is the period when bitcoin price rises or is expected to rise, making it an ideal period to trade or invest. For one bull market phase, approximately five price rallies occur.”
Ow continues to share his ideas and analyses in regards to the bitcoin worth cycle, particularly with reference to bitcoin halving and the value rallies that happen earlier than the halving.
“[Between] 2012 and 2016, bitcoin halving occurred while bitcoin was recovering from a bear market. A bear market is the opposite of a bull market. The first price rally [usually] happens a few months before the halving, after which bitcoin price generally moves sideways for a few months. … After the halving [occurs], bitcoin price rallies a few times and reaches a new all-time high.”
Ow understands that this could possibly be troublesome to visualise in his reader’s head, so he attracts in an instance with numbers to assist his concept.
“During the first price rally in 2019, bitcoin prices reached up to about $13000. Then it dropped to about $6700. Bitcoin is currently trading at about $10000. This is probably the beginning of the second price rally of this bull market.”
Whether or not a sure time limit is sweet for purchasing bitcoin is as much as your verdict. Although we’re not right here to supply any investing recommendation, we’re extraordinarily touched to see our Peers stepping up within the crypto neighborhood and galvanizing others to make selections on their buying and selling conduct.
As a closing remark, Ow tells us that he loves Paxful as a result of it “permits anybody from anyplace to start out a bitcoin buying and selling business. So far, from the Paxful Peer Program, [I have] gained some beneficial insights from skilled merchants.”
We can’t wait to see extra entrepreneurial leaders like Ow stemming from the Peer Program!
If you haven’t already, check out how to apply and what sort of perks you’ll get from us right here!
*The content material of this text is for informational functions solely, it’s best to not construe any such info or different materials as authorized, tax, funding, monetary, or different recommendation.
The submit Learn From Our Peers: Ow from India Is Keeping Close Tabs on the Current Bull Market—Here is Why* appeared first on The Paxful Blog.