Why wait for bitcoin?
In the last 12 months bitcoin has damn near doubled in price due to our ETF but Bitcoin is still 30% below its all time highs. We all know if the price bitcoin goes up it will bring up all other cryptocurrencies. There are a whole lot of opportunities left out there to be able to grab some of these ALT coins. Don’t be left out! If you take a quick look at bitcoin around the end of 2022 it was worth about 16,000. Now we are hanging out at 48,122. We’re getting closer to that old time high of about $61,539 there’s at least a 30% gain there and then of course it’ll continue flying after that now there are other coins that you could get way more than 30% more than 100% but we’ll talk about that later. For now we gonna keep focused on bitcoin. I posted a few links, take a look and let me know what you think. Is there’s still time to invest in bitcoin, I believe there’s a lot of upside to it and we’re breaking resistance lines. Creating new supports. We’re looking good out here. Let me know what you’re thinking in the comments.
Thanks again !
Bitcoin‘s (CRYPTO: BTC) price nearly doubled over the past 12 months as stabilizing interest rates, the approvals of BTC exchange-traded funds (ETFs), and a bullish rotation toward riskier assets lit a fire under the world’s top cryptocurrency.
But even after that year-long rally, Bitcoin remains more than 30% below its all-time high. So should investors buy more Bitcoin today before it rallies to new record highs?
What happened to Bitcoin over the past two years?
Bitcoin’s price hit its all-time intraday high of $69,044 in Nov. 2021. At the time, low interest rates, stimulus checks, social media buzz, and the growing popularity of commission-free trading platforms like Robinhood all drove smaller retail investors toward cryptocurrencies, hypergrowth stocks, and meme stocks.
But by the end of 2022, Bitcoin was only worth about $16,000. Inflation, soaring interest rates, the failures of high-profile tokens and exchanges, and concerns about tighter government regulations had quickly chilled the market with a new “crypto winter”. Many investors also rotated toward more conservative investments like value stocks, CDs, and T-bills.
What will happen to Bitcoin over the next few years?
Yet BTC’s price soared over the past year as the market warmed up again. The two main catalysts were hopes for interest rate cuts and the approvals of eleven new Bitcoin ETFs by the U.S. Securities and Exchange Commission (SEC) this January.
Unlike previous “Bitcoin ETFs”, which traded futures contracts, this new batch of ETFs directly held Bitcoin and were directly tethered to its spot price. That more accurate approach made the new Bitcoin ETFs viable alternatives to buying BTC on a cryptocurrency exchange, and it will likely open the door for bigger institutional purchases.
Looking ahead, the next big catalyst for Bitcoin will be the upcoming “halving”, which cuts the rewards for mining BTC in half ever four years. The next halving will occur this April — and it could drive up BTC’s price by reducing its available supply.
