Bitcoin (BTC) is a form of electronic currency, also known as cryptocurrency. Individuals and companies around the globe develop it. What needs to be understood about cryptocurrency is that it has no physical form.
The Bitcoin network is controlled by the users who are buying or selling them. This control is among the top reasons why the Bitcoin value fluctuates due to supply and demand.
Can Bitcoin Reach $100k
Bitcoin (BTC) could move towards $100,000 by at least 2028, according to a cryptocurrency analyst named Harold Christopher Burger. Burger explains that he’s reached this value by using a power-law model that sees Bitcoin becoming a six-digit digital asset.
In a Medium post released by Harold Christopher Burger, he explains how the model allowed them to make broad predictions that relate to the future price of Bitcoin. The first prediction shows that Bitcoin’s price will reach the $100,000 mark no earlier than 2021, and no later than 2028.
He further speculates that post-2028 Bitcoin will not drop below $100k ever again. The model then shows a second prediction that sees the price of Bitcoin reach $1,000,000 by 2037, once again speculating that it won’t drop below this prediction post-2037. Burger wrote in his article:
“I am quite confident that in the long-term, the price will indeed evolve approximately, as stated in this article. I think it is more likely for these predictions to be too low rather than too high: I believe that Bitcoin has more potential upside than downside to large exogenous shocks.”
Burger also mentioned in his post is that the growth rate for the price of Bitcoin seems to be slowing. To show this, he explains how Bitcoin’s price moved from $0.1 to $1 in just a few months – which is much faster than subsequent gains of a factor of ten.
The power-law model used by Burger predicts a continued but slowing growth of Bitcoin over the coming years. In addition to this, the model predicts a reduced, but still highly volatile price in the virtual currency.
Investing in Bitcoin
You may have already tried plenty of investment options, like the capital market or mutual funds. You might even have invested time and money in a business venture. But what about the digital environment? Do you think it’s worthwhile investing your money in Bitcoin?
You probably already know that virtual currencies have become popular as of late and that it’s been used in a variety of industry sectors as a payment option. We’ve listed a breakdown of the top 5 benefits of investing in Bitcoin.
- It’s a possible way of earning money.
- You can use Bitcoin to buy products and services.
- They are accepted all across the world.
- The system is neutral and transparent.
- It offers anonymity otherwise remiss.
Does Bitcoin Fluctuate?
Yes, the price and value of Bitcoin do fluctuate. This is precisely why trading Bitcoin can be very profitable, especially for active investors who make trades regularly. Can you lose money? Yes, you can lose money when investing in Bitcoin.
You can lose money in a short time, in the same way that you can profit from Bitcoin investing. Anyone willing and able to afford €214 can start investing and trading Bitcoin on platforms like Bitcoin Rush and see high returns.
Bitcoin investments are taxable like all other investments, and profits can be reinvested to avoid being taxed on earnings.