Bitcoin’s staging a mini-rally at $21,000, but UAE’s cryptocurrency holders are unsure what to do next

Bitcoin’s staging a mini-rally at $21,000, but UAE’s cryptocurrency holders are unsure what to do next

Dubai: Here’s a partial good news for crypto holders – Bitcoin’s still holding up at above $20,000 at the start of the week. In fact, it has gone past $21,000 in early trades. It could all be temporary given how the entire crypto-asset universe has been behaving for six months, and some even suggesting Bitcoin will likely stabilise only by dropping all the way down to $10,000 or thereabouts. In the same period, assets of the ‘past’ such as the dollar – and dollar-linked ones - are making gains at the expense of nearly all others? Even gold with its recent fall is still attracting fairly robust interest. All that Bitcoin holders are left with is hope. Or wait long enough to exit in full when prices inch up, whenever that might be. Some investors have already done so. Altaf Abbas based in Dubai said: “The recent warning by China that says Bitcoin is worthless has added to my concerns and led me to exit my position. I had allocated only 5 per cent of my savings to the asset, but suffered significant losses. I do not intend to buy again.” (Bill Gates too has been making statements talking down