Bitcoin price forecast: is BTC worth investing in on January 10?

Bitcoin BTC/USD is by far one of the largest cryptocurrency tokens in terms of market capitalization and has dominated the crypto industry ever since its release.

Its various upgrades throughout the years, such as its latest Taproot upgrade, have kept it both relevant as well as a dominant force in the industry. 

$100,000 BTC price speculation as a catalyst for growth

On January 4, we went over how the co-founder of Nexo stated that Bitcoin has the potential to reach $100,000 by mid-2022.

This is due to the fact that more countries will adopt Bitcoin as legal tender, in the same way that El Salvador, a Latin American country, did so in 2021. 

In fact, Nayib Bukele, who is the president of El Salvador, predicted that Bitcoin could hit $100K before the end of 2022.

Note that this recent slump in terms of the value of Bitcoin might seem alarming. However, it is not the worst Bitcoin has seen over the years. 

Volatility is something to be expected with cryptocurrency investments, and Bitcoin has strengths that can potentially propel it to the highly speculative $100,000 price point, eventually.

In any case, this speculation has gathered interest for the BTC cryptocurrency token, and it might be a solid time to invest in the token as a result.

Should you invest in Bitcoin (BTC)?

On January 10, Bitcoin (BTC) had a value of $41,007.45.

To get a better perspective as to exactly what this value point means for the BTC cryptocurrency token, we will be making a comparison between its all-time high-value point alongside its performance the previous month.

When we go over the all-time high value of the BTC cryptocurrency token, we can see that it was on November 10, 2021, when the token reached a value of $69,044.77. Here, we can see that at its ATH point of value, the token was $28,037.32 higher in value or by 68%.

With that in mind, when we go over the performance of the token in December of 2021, we can see that, on December 1, it had its highest value point of $58,667.85.

Its lowest value point, however, was on December 18, when the token reached a value of $45,697.92.

Here, we can see that the token decreased in value by $12,969.93 or by 22%.

With this in mind, at $41,007.45, BTC can be a solid investment, assuming the token breaks the $42,000 price barrier, in which case it can go up to $43,000 by the end of February 2022. However, if it decreases in value under the $41,000 value point, then it might be worth reconsidering.

The post Bitcoin price forecast: is BTC worth investing in on January 10? appeared first on Invezz.

Latest Articles

No Comments

Post a Comment

Enter your email address to
subscribe to our newsletter

Top 10 Picks Of The Month

Market Movers