Investors forecast that Bitcoin will hit $100,000 IN 2023
From a low start in 2008 to a high price target for 2021, Bitcoin (BTC) has attracted investors and the rest of the world to participate. In just over a decade, the original cryptocurrency has crashed and crashed and collapsed again and again, along the way to tens of thousands.
Bitcoin was created so that people would not have to rely on the government or any financial institutions to conduct financial transactions. Bitcoin allows users to trade among them using the bitcoin blockchain. Today, Bitcoin is the most popular cryptocurrency in the world, and some advocates And people believe that it may, in the future, Replace cash. There are tons of sources where you can buy bitcoins, And Binance is the leading marketplace where you can safely buy bitcoins.
Although Myanmar position on cryptocurrencies is gray, bitcoin can represent a good way to divest your investment.
BITCOIN IS THE LARGEST CRYPTOCURRENCY, Here are a few reasons why one should buy bitcoin in 2022.
It’s been a great huge start to the year for Bitcoin, but As per the research, According to our experts, It is said that bitcoin can still hit $100,000. Bitcoin has been in the market for about 13 years now, With every passing day with more suspense and More buyers. With all this being said, this year is already shaping up to be another great year. Goldman Sachs (leading global financial institution) and others said that Bitcoin is comparable to digital gold. It’s become an investor’s barrier against money printing.
According to a theory about bitcoin, called the “Lindy Effect, It is suggested that according to this theory, They claimed bitcoin to stay in power for another decade at least, Great News, No?
Lindy Effect states that the future life span of an incorruptible object, like technology, is equal to its present age.
Nowadays, you can invest in millions of different cryptocurrencies. Some promise very high and fast return on investment. But do not be lured by these attractive numbers, crypto can be a way to get rich quickly but you also have a big probability to lose everything.
Bitcoin on the other hand has become too big to fail. A lot of traditional investment firms have invested in it, such as MicroStrategy. Governments have also expressed interest to turn bitcoin into a legal tender. Such as El Salvador for example.
Today, investing in bitcoin is still risky, and it would not be advisable to go “all in”. But diverting 15-20% of your savings into Bitcoin is not a bad idea.
One of the greatest reasons why one should buy bitcoin is its sustainability. It did not die in early 2014, when the largest exchange at the time, Mt. Gox, Died. It survived the hijackers who stole large amounts of Bitcoin from trading. It survived an 83% risk in 2017 from $ 20,000 to about $ 3,000 as the media called Bitcoin a bullet that exploded and left it dead.
And it did not just survive. It was very strong and durable. Anti fragile. Last year, Bitcoin was the most efficient commodity class, with a 66% increase in 2021. Compared to the rest of the crypto market, Bitcoin is the longest-running, most powerful network.
High Chance of Profit
If we see the graphs of bitcoin, We can see the fluctuations happening from the past few years. From these fluctuations, we can conclude that there’s no way a person who plans to invest in bitcoin would incur any loss because the graphs are already telling us how profitable this investment would be.
DCA or Dollar Cost Average is a great way to invest in Bitcoin. DCA is a good strategy for a long-term investor that will incite you to regularly invest a small amount of money. By using DCA, you can lower your average cost per share, and you are resilient to market fluctuation.
Digital World – Metaverse
In this era of the fast-growing digital world, Also known as Metaverse, A concept of a virtual world, people are going crazy over this reality Vs Virtual difference. Since this concept is new, people are more attracted to it. Now that we know, Bitcoins soon (According to research) will replace the cash And take over the currency, It will benefit those who’d plan to get their hands inside of it now. It is not too late to get yourself involved in this, Even in 2022.
Drawbacks – It might be not that beneficial for you, Here’s Why?
Is the world running out of Bitcoin?
Unlike the fiat currency as the American dollar – as the Federal Reserve may simply decide to print extra paper Bitcoin offers are limited, BTC has a large volume embedded in its build, almost 89 percent reached April 2021. It is believed that Bitcoin will expire in 2040, despite the most powerful mining equipment. This is because the mines become extremely hard and power-hungry every four years, which is part of the original Bitcoin project. Because of this, bitcoin mining transactions can be equivalent to the use of a small country’s power.
Limited supply and expense
All crypto investors know that Bitcoin is limited, and it is best to have it before it stops being mined. High demand increases the price of goods, therefore, you can get a huge profit. Today, it is not easy to dig BTC because it consumes expensive resources, which everyone can not afford.
If you know how to invest and trade cryptocurrencies, you must go ahead. If you think that there is no scope of profit in investing in BTC, You know other options to invest, the rest depends upon your expertise and your research. For now, As per our research, We can conclude that investing in bitcoin is worth it, even in 2022.
If you don’t have a Binance account yet, you can enter the code ”42315554” in the referral ID field when opening your Binance account and receive a 20% fee discount for spot (max) and a 10% fee discount for futures (max).
You can simply click the button below to open your Binance account with a 20% fee discount: