Bitcoin (CRYPTO: BTC) experienced an impressive 154% surge in 2023, mirroring the success of certain “Magnificent Seven” stocks. Despite this growth, it remains 35% below its peak, indicating substantial potential for a new high.
As of early January, Bitcoin hovers around $45,000, but optimistic investors eye a significant milestone: the elusive $100,000 mark. Can the leading cryptocurrency achieve this six-figure feat?
Inhoudsopgave
Multiple Catalysts in Bitcoin’s Favor
Anticipating a 122% increase in the next 12 to 24 months seems plausible, given multiple catalysts in Bitcoin’s favor. The upcoming “halving” in April, where miners’ rewards are halved, reduces the new supply, historically resulting in substantial price gains.
Investor enthusiasm is evident, supported by the prospect of a spot Bitcoin’s exchange-traded fund (ETF) approval. Several asset management firms compete to introduce this product, and experts speculate on potential Securities and Exchange Commission (SEC) approval this month.
Spot Bitcoin ETFs could legitimize as a government-approved financial asset, attracting significant capital and potentially raising its price. Despite concerns about custody and regulatory uncertainties, this approval could alleviate skepticism among investors.
Boost Bitcoin
While the halving and ETF approval capture attention, an under-the-radar catalyst could further boost Bitcoin: a reversal of the Fed’s tighter monetary stance. With signs of cooling inflation, potential rate cuts in 2024 could stimulate economic activity, directing more capital towards risky assets like Bitcoin.
Considering these factors, there’s a high probability that Bitcoin could reach $100,000 within the next three years, potentially even by the end of 2024. However, investors must maintain a long-term focus, recognizing the asset’s volatility and unpredictability.
To navigate the dynamic crypto landscape, continually educate yourself about Bitcoin, fostering conviction in its long-term potential. Avoid panicking during short-term fluctuations, as Bitcoin is an asset best held with a time horizon of five to 10 years, at least.
Want to learn more about bitcoin mining or start mining yourself?
“This data underscores considerably stronger profitability in the mining sector compared to challenges experienced in 2022 and part of 2023.”
In approximately six months, Bitcoin undergo a “halving,” reducing the new bitcoins awarded to miners by half. Satoshi Nakamoto introduced this event in 2009 as an anti-inflationary measure. Occurring roughly every four years, the lead-up to halvings traditionally proves the most profitable time for crypto investors. “Buying bitcoin six months before a halving and selling 18 months after has historically outperformed a ‘buy and hold’ strategy,” affirms the analyst.
Bitcoin mining explained.
Bitcoin Mining is the industry where the largest institutional party BlackRock is betting big and has recently become majority shareholder in four of the five largest mining companies.
You buy one or more Bitcoin mining machines and within 6-8 weeks it is mining for you with a current rate of 5.2 cents including hosting, security and maintenance. What does a miner cost? How can these power rates be so low? Want to know more?
Attend the free Q&A about mining:
With Mitchell Weijerman (CEO of Epic Mining) on wednesday the 17 of januari at 7PM for free. Where Mitchell answer all your questions live.
Also you can calculate profit in this spreadshee
Full article about mining in depth you can find here. Bitcoin mining – Buy Low Mine High.
The simple way how smart investors can profit from a broken banking system. How crypto miners made 16.7 billion USD in 1 year and how we can get a piece of it. How anyone can make money with crypto mining within 4-8 weeks, regardless of your knowledge or experience.
