Bitcoin is no longer the kind of cryptocurrency that can boast of high transaction throughput. Why do millions of investors and companies around the world want to buy bitcoin? If in 2015-2018 the answer to the thematic question was decentralization, now this useful feature has been supplemented by a rapid change in the exchange rate of the cryptocurrency itself. Fast – in comparison with conservative assets.
Buy Bitcoin for $29,000-$30,000
The Bitcoin ecosystem is significantly inferior to altcoins. The latter are increasingly operating with Proof-of-Stake and other flexible protocols. However, Bitcoin is a pioneer in the world of cryptocurrencies. Therefore, the key token was acquired not only by billionaire enthusiasts, but also by the largest institutional investors with IT companies:
● MicroStrategy;
● Square Inc.;
● grayscale;
● 3iQ;
● Galaxy Digital Holdings and others.
Even the average price of such an acquisition is known – $ 30,000. It was not without reason that it was already possible to exchange bitcoin at the corresponding rate several times during the correction period:
● January 22, 2021 – Bitcoin rose from $10,100 to $32,000 (but this was only the first wave of the historical pump, which allowed large players to expand their investment portfolio)
● July 19, 2021 – After a 50% drawdown, BTC traded between $32,000-$33,000.
In 2018, when the BTC rate collapsed, the cryptocurrency world was compared to a pyramid scheme. Despite the skepticism, enthusiasts continued to believe in the $100,000 rate. So far, these desires have been fulfilled only in part. But how could anyone imagine that the $32,000 rate would become an ordinary correction zone and a signal to buy bitcoin in time. However, the bulls should not relax.
Can you sell Bitcoin for $49,000?
The price hike could happen as early as this month. Otherwise, the crypto asset will face the next wave of liquidations. The thematic forecast is guided by the well-known trader Tony Weiss.
“This month can still demonstrate a short-term sliding takeoff. If by the end of January it is not possible to sell bitcoin for more than $49,000, then we need to prepare for the next level of the dump,” says Weiss. The trader does not exclude the repetition of the previous scenarios:
● From November 9 to December 5 – having calculated the profit, the whales brought down the market;
● From December 27 to January 5 – BTC fell again, but already under the pressure of external factors – the decision of the US Federal Reserve, unrest in Kazakhstan (about 18 percent of mining capacities are concentrated in this Asian country).
The current week will be key in terms of trading in the $30,000-40,000 corridor. But there is a third forecast – the exchange rate will remain until the influence of an external or economic factor.
The depreciation of BTC at the end of winter and spring is a common occurrence in the cryptocurrency world. Starting in May, halvings and other updates take place. However, this year may be an exception for bitcoin: a report by American Banker reports the inclusion of orders to buy and exchange bitcoin in the functionality of 300 American banks. Moreover, the thematic launch will take place in the first half of this year. According to bankers, the “golden” cryptocurrency can support commercial organizations in terms of investment, which will attract many customers and directly save the economy. The upcoming launch has been delayed due to some cyber security gaps.
