Buying Bitcoin (BTC) Amid Bullish Trend – Is It Too Late Or It Is Never Late
Bitcoin (BTC) has indeed well-performing since the start of this year. Surpassing new high levels week after week, some might think that it’s too late to buy BTC. The answer is, it’s not.
The largest cryptocurrency in the world has recently reached the $52,000 mark and is expected to soar high in the next upcoming days. Compared to its value 10 years ago, BTC has climbed over 7,900% as of this writing. In fact, Bitcoin outcasted other major assets. In comparison, Gold has only increased by 59% in the last 10 years while the Nasdaq Composite index only went up by 326%. Even Tesla stock hasn’t surpassed Bitcoin as their value only increased by 1,380% within the same period.
Anthony Scaramucci, the founder of Skybridge Capital believes that it’s not too late to invest in Bitcoin despite the BTC price surge.
With bitcoin back over $50k, average investor again wondering: ‘did I miss buying opportunity?’ Answer is hard ‘no.’
Scaramucci added that the three key factors that he believes will help Bitcoin’s price go upwards are: falling interest rates, which makes assets like Bitcoin more interesting; rising demand for spot Bitcoin ETFs bringing billions of inflows to the market; and lastly the upcoming Bitcoin halving event.
In January, Scaramucci also stated that he is expecting BTC to go over $170,000 in 2025 if the price of BTC stays at its current levels.
In conclusion, Bitcoin remains a long-term investment and can be viewed as a hedge against the current financial system. However, always be reminded that the cryptocurrency market is quite volatile, so if you’re looking to add BTC to your portfolio, consider holding it for the long term.
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