Will Bitcoin Hit 70k?
Once an average worker, now a multimillionaire from investing in cryptocurrency.
Rachel Siegel was a substitute, public school teacher who resided in a dark apartment on Lower East Side, New York City where each window instead faced a brick wall.
Now, she revels in the great view of the sea with a condo she just purchased in the Caribbean, where her main view is the ocean and sun from her private balcony. This is all because she seized her chances in investing in cryptocurrency, putting in her leftover money from her paycheck which usually amounts to around $25 per week.
This, in turn, has become profitable in the seven-figure range, letting her obtain more money than she has ever had.
Now, she’s a homeowner and is able to splurge on traveling first-class trips to Emirates and more. She quit her teaching job and currently works as an influencer in cryptocurrency, going by her pseudonym or alias @CryptoFinally.
It’s no secret: you can do it too.
In fact, many people have already made plenty of money with Bitcoin in accessible ways, offering great opportunities for investors to earn passive income. Despite this, you should keep in mind that certain risks have to be taken; the decisions you make will affect how your money will turn out for you. It’s only either of the two: you earn more, or you lose everything.
And that’s the thing – the value and price of Bitcoin are a bit challenging to predict. Having been around since 2009, it has already gone through various fluctuations.
But here’s the good news! Last November 10, 2021, Bitcoin had an overwhelming surge which allowed it to hit a record-high price of approximately $68 789.63 – a feat for the most popular cryptocurrency. The drawback is that even though it had achieved this milestone, the price and value have plummeted ever since.
This is the common frustration many crypto investors share, especially since you’ll never guarantee anything with Bitcoin. The reason why so many investors remain at the top of their game despite the risks brought by fluctuation is they’re able to predict its value and price. By having well-thought strategies, plans, and forecasts in place, you might also have a shot at maximizing your earnings.
That said, the question now is: will bitcoin hit 70k? Given its unpredictable nature, it’s still possible to assume that the cryptocurrency may still achieve this feat, considering that many experts have even supported this theory. It’s only a matter of when.
Here, we will explore the value of Bitcoin and its projected price in the coming years.
What is Bitcoin?
If you still don’t know yet, Bitcoin is the biggest and most popular trading cryptocurrency. Originally established and introduced by Satoshi Nakamoto, Bitcoin is a decentralized virtual currency that contains roughly 21 million BTC tokens.
Is reaching $70,000 possible?
Bitcoin is considered a risk asset, given the tricky nature of accurately predicting its value and price. Even so, this doesn’t have to be a hindrance to investing and earning money altogether. Like many successful investors, you can always opt for a converter and forecast tool that will essentially help you monitor and analyze Bitcoin’s value every now and then. Safe Trade Binary Options is an excellent tool that can assist you with your inquiries related to Bitcoin while providing you with trustworthy information that lets you make the right decisions for your investment.
According to the Safe Trade Binary Options forecast tool, Bitcoin’s current price is around $18,520.86. The tool also presents a chart of the US Dollar to Bitcoin and its performance throughout the months. As of now, the maximum price of BTC extends up to 35,586.10 USD, with a minimum price of 17,427.00 USD.
But given Bitcoin’s impressive all-time high price, many experts are forecasting that Bitcoin can reach around $70,000 to $75 000 at least by November this year and roughly $124 780 at the end of 2023.
Predicted prices for Bitcoin continue to surge, with an ideal forecast of the cryptocurrency hitting $203 020 within the next five years. But while this information is great, you must keep in mind that other aspects and trends can still affect the projected value and price and may even lower these predictions. Many Bitcoin investors are presently concerned with certain worries about the cryptocurrency, considering the geopolitical tensions, stricter monetary policy, and the inflation rise that can potentially affect its growth.