Oh, what a dream story it was sewing up for Bitcoin last year when it reached the value point of around USD 60,000. But, since then, it all started going downhill all of a sudden.
From the beginning of this year, the price of Bitcoin started falling, and it’s still in that stature now. I mean, at the time of writing this article, it’s within the range of only USD 20,000.
That’s pretty shambolic if you ask me.
However, here’s the thing. This is not the first time when Bitcoin suffered such a lowest low in terms of pricing. It’s suffering the same fate from the beginning.
Wait, let me give you an example or two.
Bitcoin’s Fall From Grace – A Look At Its History!
So, the first time Bitcoin saw its price falling out of nowhere on June 2011. At the beginning of the year, the value of Bitcoin soared from USD 2.00 to USD 32.00.
And then, somehow, it all came crashing down on June 19th, when the price of the same fell to one penny. Yes, it had been reduced by 99% within a single day!
Nonetheless, that’s not where it ends, though.
2017 is another landmark year, which perfectly sums up the gruesome volatility of the Crypto market. During the summer season, the price of BTC rose to USD 20,000.
It was the all-time high back then, you know.
However, then, on December 27th, it crashed massively from USD 20,000 to USD 12,000. It kept on going down for almost a year until the value began rising again.
But, here’s something you should know.
Will BTC Bounce Back, Though?
Well, it’s a little difficult to say, if I’m being honest. But, according to Time, the price of BTC might rise to USD 100,000 if everything goes in the right way. And, considering the current market trends, I do feel a little positive. Keep reading to know why.
- Since Bitcoin’s price fell, many people began buying the coin in a hurry. And among them, the most notable name is Tesla, which bought around 1.5 billion worth of Bitcoin. Now, if some more people follow suit, I think the price of the market will rise again.
- Many international organizations, including Tesla, have begun accepting Bitcoin as a form of payment. And, if you want, you can make a payment through an app like bitqt. This might also increase the usage and price of Bitcoin massively.
- Since the conventional financial market breakdown during the COVID-19 era, almost everyone in the younger generation is opting for Cryptocurrency. If this trend keeps on growing, you can surely expect a rise in the price of BTC in 2022 or 2023.
Honestly, the bounce-back of Bitcoin seems like a matter of time if you consider the aforesaid reasoning. However, in my opinion, it’s best if you sit it out for a while.
So, Should You Invest In BTC?
With the price of BTC hitting the lowest low in recent times, it may seem like a decent time for you to make an investment. And, in my opinion, you should definitely capitalize on it.
I mean, considering the history of BTC, the price will start rising pretty soon. And, if you can buy Bitcoin right now, it’ll be easier for you to gain more money as time goes on.
However, before you put all of your money into it, there’s something you should keep an eye on – the volatility of the market. Every passing year, the world of Cryptocurrency is becoming more and more unstable due to the arrival of new players.
And, if it keeps on increasing, this might affect your market planning. Therefore, it’d be best if you could ensure that you’re investing your money after making a proper plan.
Take the help of an expert if possible. But, having a roadmap will be essential for you to beat such a trying time of Cryptocurrency and soar higher as an investor.
The Bottom Line!
So, there you go. I hope I could offer some insights on Bitcoin and its price trend through this article. However, if you feel like I’ve missed out on something, don’t forget to let me know in the comment section below. I’ll update the blog accordingly.
Have a great day ahead!