Researchers conclude that Bitcoin can hit $100,000 in 2023
From a low start in 2008 to a high price target for 2021, Bitcoin (BTC) has attracted investors and the rest of the world to participate. In just over a decade, the original cryptocurrency has crashed and crashed and collapsed again and again, along the way to tens of thousands.
Bitcoin was created so that people would not have to rely on the government or any financial institutions to conduct financial transactions. Bitcoin allows users to trade among them using the bitcoin blockchain. Today, Bitcoin is the most popular cryptocurrency in the world, and some advocates And people believe that it may in the future, Replace cash. There are tons of sources where you can buy bitcoins, And Binance is the leading marketplace where you can safely buy bitcoins.
Last year, Laos made a big U-turn on cryptocurrencies by drafting the first framework aiming to regulate crypto mining and crypto exchange in the country.
Bitcoing is the largest cryptocurrency, here are a few reasons why one should buy bitcoin in 2022.
It’s been a great huge start to the year for Bitcoin, but As per the research, According to our experts, It is said that bitcoin can still hit $100,000. Bitcoin has been in the market for about 13 years now, With every passing day with more suspense and More buyers. With all this being said, this year is already shaping up to be another great year. Goldman Sachs (leading global financial institution) and others said that Bitcoin is comparable to digital gold. It’s become an investor’s barrier against money printing.
According to a theory about bitcoin, called the “Lindy Effect, It is suggested that according to this theory, They claimed bitcoin to stay in power for another decade at least, Great News, No?
Lindy Effect states that the future life span of an incorruptible object, like technology, is equal to its present age.
One of the greatest reasons why one should buy bitcoin is its sustainability. It did not die in early 2014, when the largest exchange at the time, Mt. Gox, Died. It survived the hijackers who stole large amounts of Bitcoin from trading. It survived an 83% risk in 2017 from $ 20,000 to about $ 3,000 as the media called Bitcoin a bullet that exploded and left it dead.
And it did not just survive. It was very strong and durable. Anti fragile. Last year, Bitcoin was the most efficient commodity class, with a 66% increase in 2021. Compared to the rest of the crypto market, Bitcoin is the longest-running, most powerful network.
High Chance of Profit
If we see the graphs of bitcoin, We can see the fluctuations happening from the past few years. From these fluctuations, we can conclude that there’s no way a person who plans to invest in bitcoin would incur any loss because the graphs are already telling us how profitable this investment would be.
In mid-2022, the crypto market is facing a cycle called a Bear Market.
A bear market occurs when broad market prices fall at least 20% from the most recent high over a few months.Source
Bear markets have made millionaires in the past. This is the perfect timing to slowly invest in cryptocurrencies aiming for a recovery in 2023 that will see the cryptocurrencies reach a new all-time high against FIAT currencies.
Digital World – Metaverse
In this era of the fast-growing digital world, Also known as Metaverse, A concept of a virtual world, People are going crazy over this reality Vs Virtual difference. Since this concept, is new, People are more attracted to it. Now that we know, Bitcoins soon (According to research) Will replace the cash And take over the currency, It will benefit those who’d plan to get their hands inside of it now. It is not too late to get yourself involved in this, Even in 2022.
Divert your investment
Since the COVID pandemic and the Ukraine war, the world has reached a point of high uncertainty. A lot of countries have faced a steep increase in the cost of living. In Laos, inflation hit 30% in August 2022.
Lao citizens are looking for ways to divest their investments and not put all the eggs in the Lao KIP baskets. A very common investment scheme in Lao PDR is Land. This is still extremely valid in 2022 especially in agricultural lands as the food supply chain has been impacted by the recent health crisis.
It is also interesting to notice that one of the richest men on earth is investing in farmland. Food supply will be without a doubt one of the challenges of the century and as such, owning farmland is a very good investment for the future.
Land aside, a lot of Laotians are divesting their investment into other FIAT money such as Thai Baht, Chinese Yuan and US Dollar. Crypto currencies could become a welcome addition to your investment portfolio.
The best crypto investment strategy
When it comes to a highly speculative market like crypto currencies, the best investment strategy is definitely not to go all in. Most investors will recommend to DCA or Dollar Cost Average.
Dollar cost averaging is the practice of investing a fixed dollar amount on a regular basis, regardless of the share price. It’s a good way to develop a disciplined investing habit, be more efficient in how you invest and potentially lower your stress level—as well as your costs.Source
This investment technique will ensure the best return as you will invest slowly but surely averaging your entry position day by day.
In terms of position size, it is recommended to invest less than 25% of your savings in cryptocurrencies to be on the safe side.
Drawbacks – It might be not that beneficial for you, Here’s Why?
Is the world running out of Bitcoin?
Unlike the fiat currency as the American dollar – as the Federal Reserve may simply decide to print extra paper Bitcoin offers are limited, BTC has a large volume embedded in its build, almost 89 percent reached April 2021. It is believed that Bitcoin will expire in 2040, despite the most powerful mining equipment. This is because the mines become extremely hard and power-hungry every four years, which is part of the original Bitcoin project. Because of this, bitcoin mining transactions can be equivalent to the use of a small country’s power.
Limited supply and expense
All crypto investors know that Bitcoin is limited, and it is best to have it before it stops being mined. High demand increases the price of goods, therefore, you can get a huge profit. Today, it is not easy to dig BTC because it consumes expensive resources, which everyone can not afford.
If you know how to invest and trade cryptocurrencies, you must go ahead. If you think that there is no scope of profit in investing in BTC, You know other options to invest in, Rest depends upon your expertise and your research. For now, As per our research, we can conclude that investing in bitcoin is worth it, even in 2022.
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