Social media and news channels can be accredited for our basic knowledge about Bitcoin Change. By intension or not, whenever we switch on the news or scroll through social media, we hear something about this digital cash. By that time, you may also have been convinced about doing some investment with cryptocurrency. But, when it comes to the question of investment, and you are going to put your hard-earned money into it, this minimum knowledge is not enough.
Of course, cryptocurrency investment is a profitable investment, there is past evidence that proves it but, do you know what currency to invest in? What are their market situations? You must have thorough knowledge before you take a step in this volatile market.
Investment in cryptocurrency makes us think about bitcoin first. Isn’t it? Well, it is the most popular, valuable, and the most demanded cryptocurrency for investment. Bitcoin is the oldest cryptocurrency, so it is quite easy to know everything about it because all the details are very clear on the internet and to the experts.
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Bitcoin’s price history since 2009:
Bitcoin was created by Satoshi Nakamoto. At that time some people were doubtful about it, and it had no real-life value too. It started gaining value when a man, Laszlo Hanyecz spent 10,000 bitcoins to buy two pizzas in 2010. At that time, bitcoin was worth around $0.0008. Later, in 2017 bitcoin started to rise high and in December 2017 it was over $13,000 for the first time. After that, bitcoin continued its journey.
With so many ups and downs till 2020 and after September 2020 it gained a massive height that reached $58,700 in May 2021. Its value skyrocketed to $ 61,300 in October 2021. But, irrespective of those high points, bitcoins price fluctuations were so frequent. That’s why investors call it a very volatile market.
Bitcoin’s current market:
After a high price gain in 2021 bitcoin again started to drop. Though it is not an uncommon scenario for a volatile market, investment and profit depend on its performance. Bitcoin
If we see the market capitalization, bitcoin was at $1,156 billion in October 2021. But, bitcoin’s market capitalization dropped to $731.99 billion as of 1st May 2022.
Bitcoin’s future prediction:
This scenario of bitcoin stole the sleep of many investors. Whereas many are there who still have solid hope. Financial market experts predict that bitcoin will rise in the future. They are mainly depending on the supply-demand theory. Bitcoin’s supply is limited, unlike fiat money. Only 21 million Bitcoins can be mined among what closely 19 million already exist.
So, only around 2 million bitcoins are there yet to be created. Many renowned companies and industries as well as people already understood the practical value of bitcoin and they are willing to shift their payment system from traditional banking to a bitcoin network. As per the financial research experts, Bitcoin is going to increase in terms of market price value soon. Even, predictors say that in 2026 bitcoins’ value may reach over $1 million.
Investment in this volatile market:
The high volatility of the bitcoin market may sound very risky to invest in newbies. But, if you understand the right path to gain profit, the volatility factor is the key factor for you. Volatile markets are good for a short-term investment, though long-term investments can also be fruitful. From any kind of investment, you make a profit between the price growth from the time you buy the asset to the time you sell it. Same as bitcoin, you must know the actual price when you are buying it and wait for the perfect selling time.
Finally, with the advancement of technological aspects, the increased demand for bitcoin investment brought us so many trading platforms. Bitcoin Era is one reliable crypto investment platform where you can choose to trade in your preferred form of cryptocurrency. So, if you are going to do your first bitcoin investment o does not forget to keep the above advice with you and study the market well.