Bitcoin may be over a decade old and reaching all-time highs, but experts believe that it’s only just getting started. Representing the first, most well-known, and valuable form of cryptocurrency, Bitcoin is proving investors and analysts wrong – for a second time. Since the spring of 2020, Bitcoin has been on an upward trajectory, first double, and now, nearly tripling its value. It is expected to reach and exceed its previous high of almost $20,000, which hasn’t been surpassed in three years.
Can You Still Profit Buying into Bitcoin Now?
In short, this is probably a very good time to invest in Bitcoin again. Since the last time it peaked at around $20,000, the world has changed a lot, as inflation has gone up and many new novice investors are playing for keeps. Of course, this is all speculation and anything could end up happening in the near future. Those with experience know to get a BTC wallet for keeping their investments secure. Chances are that Bitcoin is going to hit its previous high and then keep on going up. Use Paxful to get a BTC wallet, and buy and send Bitcoin online, any time. Their secure interface means that you can rest easy knowing that your Bitcoin will be safe, no matter what its value is.
What Will the New All Time Bitcoin High be?
Finance experts are saying that Bitcoin is going to keep going up, mainly because of two factors. First, Bitcoin has not slowed its growth for almost a year straight now. It is one the most stable investments that speculators were able to hold onto since the beginning of the coronavirus epidemic. Secondly, Bitcoin just completed what is known as a halving. Miners who use their computers to generate Satoshis, which are part of a Bitcoin, can generally expect to make a certain profit margin. When a halving occurs, the amount of money that miners earn is also cut in half. This makes bitcoins even more valuable, as there is a definitive and finite number of coins that can be mined in total.
What Happens Next?
The last time that Bitcoin had a similar rally was in December of 2017. As investors will also remember, Bitcoin’s value also came crashing down shortly thereafter. There are some similarities and many differences occurring this time around that may signal that this time really is different. First and foremost, there is a global recession going on. The stock market is still holding on strong, yet unemployment numbers are way up. This time, many high reputed investment firms and corporations are rating Bitcoin as a profitable investment. This is a major change from what many investment firms were saying a year or two ago. It isn’t known if Bitcoin is going to find a new, higher bottom, or if there will be a dip of some kind before again leveling out.
Long-time investors in Bitcoin have been walking around smiling from ear to year, while newcomers simply can’t believe their luck. Everything is looking quite good for Bitcoin at the moment, but investors can never forget that there are always ups and downs. Look at getting a secure wallet to keep any cryptocurrency you choose to invest in.