It has been a rough kick-off to 2022 for BTC, but financial experts predict this coin to reach the $100,000 level- and this is a thing of the time, not if.
The new executive directive by President Joe Biden on digital assets that was declared early this month saw BTC’s value shoot up by 10%, after which it fell back as fast as it increased. This order commands the government firms to harmonize on a master plan to control cryptocurrency. As per the experts, this order could introduce more firmness to the crypto field in an extended period. Moreover, Bitcoin has recorded additional volatility because of the Russia-Ukraine war. Also, as per the experts’bitcoin price prediction, with no noticeable end, the Russia-Ukraine war will probably keep driving more volatility in the cryptocurrency market in the impending days.
Bitcoin managed to stay beyond the $45,000 mark for only a few short-lived instances over the last three months. March 2 was the latest instance where the coin remained above the $45000 mark. Still, this coin has remained above its six-month lower record below $34000 in the last days of January this year. Amid the good and bad times, the coin’s current value is miles and miles off from the recent record level it reached in November last year – where it went above $68000. However, even with the coin’s latest price decrease, it’s still over two times more valuable than it was a few years ago. For this digital asset, these good and bad times are everyday things.
Despite the latest slumping value and coin’s volatility, most financial advisors still believe this digital asset will pass the $100000 level. However, these experts have varying views on the exact time when the coin will go beyond this mark. The Deutsche Bankrecently conducted research that showed that around a quarter of BTC traders expect this coin to go beyond the $110000 mark within the next five years.
Bitcoin volatility is an everyday issue, and it stands as the primary reason why financial advisors argue that new digital asset traders should remain more alert when assigning a section of their portfolios to the crypto market. Bitcoin has recorded a constant value increase over the last few years, just like other cryptos. It’s only logical for BTC traders to remain interested in how high this coin can go sooner or later. Unfortunately, the coin’s value is highly challenging to foresee.
Bitcoin Price Projections General Overview
Financial advisors advise against allowing Bitcoin’s value fluctuations to direct you to psychological decision-making as with all other investments. Research has revealed that traders who contribute to ETFs and passive index funds from time to time perform excellently over time.
That’s the section of the reason why financial planners advise investors against investing over 5% of their total portfolios in cryptos and avoid investing to save for emergencies or clear high-interest bills. The track to an extended period of richness and retirement saving becomes achievable by individuals with diverse investments such as cheap index funds – with digital assets contributing only a tiny section of it.
Also, experts recommend the “set-it-and-forget-it” technique when investing in the digital asset market. Passive investing stands as the valid path to follow and obtain your financial objectives. Since the crypto field still sounds new to many individuals, it’s recommended to relax and observe how the market unfolds before you invest.
Volatility is one reason why you’ll find it challenging to explain the ‘why’ or ‘what’ behind your digital asset strategy. Therefore, before you invest in BTC or other alternative cryptos, know your goals and why you need to achieve them. This information will help you to remain focused.
Finally, note that you can purchase Bitcoin from PrimeXBT or other trustable brokers in less than five minutes. You only need to open your trading account, use a credit/debit card to deposit funds, and then start investing in this highly rated digital asset. Most importantly, PrimeXBT allows you to complete this process safely because it’s a regulated/authorized platform.
