May 18: Bitcoin is currently dominating the global financial industry. Every investor and entrepreneur is looking to put their money into this cryptocurrency as the profit that they can make is mesmerizing. The network already counts over 5 million users and many more are joining.
One of the most commonly asked questions about investing in Bitcoin is whether it is worth it to do it now. After all, it has been a while since Bitcoin peaked in value and many believe that this cryptocurrency will plunge in value due to the fact that it has been a while since it peaked in value.
And as history showed us, there is always a point where Bitcoin reaches a peak value and then drops. That is exactly the topic that we wanted to discuss in this article. We are going to take a look and see whether it is worth investing in Bitcoin now or should you save your money. Let’s check all the details.
Bitcoin’s Current Value
At the moment, Bitcoin fluctuates between $50,000 and $60,000. Recently, it managed to spike as high as $63,000, but after it experienced a small drop, many started doubting that it will rise again. But, it quickly came back to its normal state and it is on the rise again.
Thousands of people register daily to trade with Bitcoin and use the opportunity to make money. At the moment, it is speculated that there are more than 100,000 Bitcoin millionaires in the world, which is a truly mesmerizing number.
Not only that, but trading has become much easier than before. Reputable trading sites use automated systems to collect all the data about Bitcoin from the market and use it to predicts its future price fluctuations. Then, traders receive the results and know when is the best time to sell their Bitcoins and maximize their profits.
These automated softwares have proved to be extremely effective, which is why numerous other industries started implementing them. One of the most notable industries is the oil industry where trading sites that use AI systems will help you make profits from oil.
Why You Should Invest in Bitcoin Now?
As we stated earlier, many people believe that Bitcoin’s peak has passed and there is no point in investing in it. Instead, you should wait for the next wave if you want to make money. But, the statistics are showing other results.
Here’s why you should invest in Bitcoin. At the heart of Bitcoin's spikes in value lies halving events. As history tells us, Bitcoin always peaks in value exactly a year and a half after halving events end. That happened in 2014 when Bitcoin peaked at $713 and in 2017 when Bitcoin peaked at over $19,000. The halving events that led to these spikes in value were in mid-2014 and mid-2016 – a year and a half before the peak.
The last halving event took place in May 2020. With that logic, Bitcoin is likely to peak in value in the last quarter of 2021. Experts believe that the peak will be around autumn. As for the price that it will reach, it is believed that it will go as high as $100,000. That will mark the first time in history when Bitcoin reaches a six-figure number.
With that being said, this is actually the perfect time to invest in Bitcoin.
Conclusion
As facts told us, Bitcoin will continue to rise in value and peak later this year. If you are thinking of whether you should invest in other cryptocurrencies, our advice is don’t. Bitcoin is far more valuable and more stable than any other cryptocurrency on the market. Not only that, but due to its massive popularity, trading sites tailor their services specifically for Bitcoin, even though they deal with other cryptocurrencies.
Your chances of success and ultimately profit are the best if you invest in Bitcoin