This question certainly has the power to start arguments at dinner parties. Has it got what it takes to rise or is it a bubble that is about to burst? It’s quite obvious that Bitcoin and its technology are very useful and are future towards the change, anybody that claims to ‘know’ whether the price will rise or fall is a liar. Sorry but that’s the truth. But let’s try looking at it in a different way.
Should I invest in Bitcoin Cryptocurrency?
“Should I buy BTC today?” Bitcoin seems to be reeling from its worst ever start to a year, having fallen by more than $10,000 since the beginning of January. The losses may be hard to digest; still some analysts believe the cryptocurrency’s value will get back on its merry ways and has every possible chance to go way beyond the highs of late 2017.
It has been a turbulent year for the cryptocurrency, whose value shot up from $950 in March 2017 to record highs of nearly $20,000 in December 2017, as tracked by Coindesk. The price of bitcoin fell well below $7,000 in the first week of April on regular occasions.
Tightening of cryptocurrency regulations has been one of the major factors associated with the crash, resulting in greater investor caution in major markets like South Korea. Yet Michael Jackson, a Bitcoin Customer Service expert and the former COO of Skype, stated that he is hopeful that bitcoin’s fortunes will soon reverse.
If you are looking for virtual currencies with good return, BTC can prove to be a profitable investment option. Bitcoin’s price has been hovering around $6625.520 at 2018-04-05. If you buy Bitcoin for $100 today, you will get a total of 0.0151 BTC. Based on predictions and forecasts made by many analysts and bitcoin and cryptocurrency experts, a long term increase is expected. The price projection for 2023-04-03 is expected to be around $62624.10. If you make a 5-year investment, the return is expected to be around +845.2%. Your current $100 investment may be up to $945.2 in 2023.
However, many investors are very much worried due to high volatility in cryptocurrencies but if you are here to make a long-term investment, you need not fear volatility at all. You can certainly draw comparisons from bellwether brands like Microsoft as well as Apple. Initially their stocks were volatile, but with the passage of time as these companies developed their business model, the stock not only rose up but also became much more stable. Meanwhile, regulators seem to be working to eliminate the risk for consumers. So, I can’t give any reasons to why bitcoin can’t live its dreams. And if because of any factor or reason, it heads its way up then the recent price falls will appear insignificant.
One more statement that I find interesting and so would like to bring to your quick notice as stated by Michael Jackson was – “If bitcoin reaches even one per cent of the value store of other major money supplies, like the US Dollar, it could be worth 100-times what it is today.” Moving to the conclusion of the discussion about Bitcoin’s price prediction, all I can say is that history of Bitcoin proves that if done correctly, buying and selling Bitcoin can mean big profits. Many people have made a lot of money in the past and still today. But one should also accept the fact that you can lose a lot of money too. History generally has a way of repeating itself but bitcoin has a lot of history that makes it equally challenging to say which history will be repeated.
Analysts, enthusiast, and industry figures have very diverging opinions and bitcoin price predictions for both long and short-term. You should be completely aware of the factors affecting the Bitcoin price changes and also should have clear understanding of why does the graph has so much ups and downs (supply and demands, regulations, news etc.), which means how people make their own prediction about Bitcoin. When thinking about these things (supply and demands, regulations, news etc.), they also think about the technology about Bitcoin (the Bitcoin blockchain) and its progress.
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