Wondering how bitcoin will grow through this year? Or, how will it look next year? Scared it will drop in value or excited you’ll soon be a new millionaire? If you’re wondering what’s in store for you, with bitcoin and its journey, here is your analysis for the years 2021-2022.
Bitcoin: The trends.
Experts analysing the trend of bitcoin growth claim its price action or its pattern of price growth is very close to bitcoin back in the year 2017.
This means we could expect incredible growth to the value of bitcoin by the end of this year.
What’s the benefit of comparing trends between years?
Comparing trends of growth is helpful to predict the peaks and troughs that the value of the coin may reach. Some trends are so similar to others, it’s like a mathematical Deja vu.
For example, in the year 2017, bitcoin value started at $1000 per coin and then increased exponentially through the year.
2021 also seems to show a similar pattern as the year started with bitcoin being priced at a whopping $41,973 in January.
Showed a similar downfall by dropping to $30,000 in May and then gradually now again increased to an all-time high of above $66,000.
So what do experts predict for the value of bitcoin to be by the end of this year?
A conference of about 50 Bitcoin and cryptocurrency experts claim that bitcoin will continue to increase in value and probably reach an all-time high of over $80000 by the end of this year.
They also claim that the value of bitcoin will continue to grow and overtake the value of $
They expect the value of bitcoin to reach over $250000 by the year 2025 and from there for it to take off to reach 4.7- 5 million dollars by the year 2030.
Does this mean bitcoin is the greatest investment with the best returns?
Unfortunately, the answer to that question is a hard no. Although there has been a very high increase in the value of bitcoin within the last 10 years, some experts tell us that it is a very volatile asset and its bubble will burst soon.
If the people stop feeding into its craze, bitcoin or cryptocurrency at heart are very unreliable.
For example, when Bitcoin first started in 2009, it had no value. And since then it has snowballed into the value of over $60000 today.
In the same way, someday we may wake up and hear that the cryptocurrency market crashed and bitcoin again has no value.
It’s highly unpredictable and uncontrolled as an asset.
Do I invest in bitcoin this year?
The answer depends on what you are looking for; investing in bitcoin might give you incredible returns or no returns at all.
Although most experts claim for it to reach an all-time high of $80000 by December, it will almost immediately fall in value if it continues to follow the 2017 trend.
This might be the best window of time to invest as, at the moment, Bitcoin’s chart is showing only an upward journey of a steady peak.
Bitcoin is an asset that is very volatile so it is in your best interest to invest in bitcoin only after you prepare yourself for a rollercoaster ride of stupendous highs and lows.