"Large Pump" Coming To Bitcoin. BTC Could Hit $100,000

 It’s been - a rocky start to the year for Bitcoin, but experts still say it will hit $100,000 — and that it’s more a matter of when, not if.

This year, Bitcoin soared 14% in January and 30% in the previous January. Looking at the last ten years on average, Bitcoin’s price usually surges 10%, which could mean if we see a similar uptick in 2022, the price will be above the critical resistance level of 50K. If that happens, that could clear the way for the Bitcoin to begin its march towards its all-time high.

However, the volatility of Bitcoin is also typically most pronounced in January, which means investors should expect some mammoth moves. 

Looking at the trend, it is likely that Bitcoin whales will likely buy Bitcoin on any retracement. Companies like MicroStrategy have used the "buy the dip" strategy, capitalizing on the price drop by acquiring digital coins at deep discounts. MicroStartegy recently purchased $82.4 million in Bitcoins, paying an average price of $57,477 for the digital currency.

With a total investment of $3.66 billion, the company now has 122,478 Bitcoins. El Salvador, likewise, purchased more Bitcoins in order to support its decision to become the first country to adopt Bitcoin as legal tender.

"Large Pump" Coming To Bitcoin. BTC Could Hit $100,000

What is Bitcoin?

Bitcoin is a digital asset. It is described as a cryptocurrency because it was created to exchange it the same way we use money.

All their transactions are internet-based and recorded in a blockchain. The blockchain records the transaction history for each unit.

The blockchain is important because it proves ownership of every unit.

Bitcoin is a virtual token, and the tokens can be programmed to record financial transactions and other crucial information.

Crypto transactions are similar to the monetary system. However, the crypto feature is the most lucrative feature.

The system allows to sending of cryptocurrencies between parties in exchanges for goods and services.

There are many stores, including AMC movie theatres, where you can pay with Bitcoin.

Cryptos are not controlled by authorities, Bitcoin has plenty of advantages. Nevertheless, there's a spike in crimes committed with Bitcoin and against its users like scams.

Cryptos are inflation-resistant, transparent, but used mainly in dark markets.

BTC Could Hit $100,000

Bitcoin is slowly coming back to life after plunging recently, but everyone's favorite cryptocurrency needs to chart a 77% rally in the next four weeks to reach the widely forecast year-end value of $100,000. Bitcoin was trading more than 0.8% percent lower on Thursday morning, Ethereum was also declining.

Related Posts

Share this post