Should I buy Bitcoin when it's low or high?
Investors who day trade — a risky investment strategy that involves frequent buying and selling — try to buy Bitcoin low and sell it if and when its value moves higher. But if you see a future for Bitcoin as a digital currency, perhaps your investment plan is to buy and hold for the long haul.
Cryptocurrencies like Bitcoin can experience daily (or even hourly) price volatility. As with any kind of investment, volatility may cause uncertainty, fear of missing out, or fear of participating at all. When prices are fluctuating, how do you know when to buy? In an ideal world, it's simple: buy low, sell high.
Bitcoin is more stable than it's been in years, and the next halving is fast approaching. Taking current market conditions into account, now might well be the perfect time to invest, so long as you remain cognizant of the risks.
Although crypto is traded 24/7, investors usually find the best times of the day to trade are when liquidity is high; these are typically exchange hours – think the London Stock Exchange (LSE) and the New York Stock Exchange (NYSE). Trading activity usually increases around the exchange opening and closing times.
Yes, it is generally true that buying high and selling low is considered a losing strategy in crypto, as well as in traditional investing. The goal of investing is to buy assets at a lower price and sell them at a higher price to generate profit.
| Year | Price |
|---|---|
| 2025 | $ 70,125.62 |
| 2026 | $ 73,631.90 |
| 2027 | $ 77,313.49 |
| 2030 | $ 89,500.03 |
Investors who day trade — a risky investment strategy that involves frequent buying and selling — try to buy Bitcoin low and sell it if and when its value moves higher. But if you see a future for Bitcoin as a digital currency, perhaps your investment plan is to buy and hold for the long haul.
If Wood is correct and Bitcoin does reach $3.8 million by 2030, an investment of $1,000 would be worth over $60,000. This would result in a compound annual growth rate (CAGR) of over 100%. Read Next: Bitcoin has jumped another 45% already this year – how much would you need to get started today?
Cryptocurrency is an extremely volatile investment
In fact, they've been known to rise and fall by double-digit percentages within the span of hours. Past performance isn't a good indicator of future performance when it comes to any risky investment—and that certainly includes cryptos.
However, the price subsequently dropped substantially, leading to a bearish phase that persisted throughout 2022. Markets showed signs of recovery in 2023, with early 2024 optimistic about Bitcoin price potentially exceeding $100,000 following the fourth halving at block height 840,000.
How low will Bitcoin go?
Analysts set $50,000 target for Bitcoin
Bitcoin's ongoing downward trend is true to what experts at 10x Research predict could be the lower target for BTC price. They warn that this steep decline may just be the beginning, with Bitcoin potentially dropping further to $50,000.
While this is a lower-bound scenario, we can use it as a baseline to show what it takes for investors to become Bitcoin millionaires. Assuming an annualized return of 30%, one would need to invest roughly $85,500 annually for five years to hit millionaire status. Over 10 years, this number falls to around $18,250.
You might want to sell your crypto under some specific circ*mstances. If there is a lack of blockchain development progress or a string of negative news, you might want to sell your cryptocurrency. If you've reached your investing goals or want to reallocate your holding, you might want to sell your cryptocurrency.
Crypto hodling is a long-term strategy that could provide a safer investment option, especially for inexperienced asset owners. “Sit back, relax and go back to your investment in five years' time” is often a mantra in financial markets, and the crypto industry is no exception as this is also the hodlers' motto.
Bitcoin Overview
Our most recent Bitcoin price forecast indicates that its value will increase by 12.76% and reach $75,086 by July 22, 2024. Our technical indicators signal about the Bullish Bullish 81% market sentiment on Bitcoin, while the Fear & Greed Index is displaying a score of 74 (Greed).
The crypto analyst Plan B said in April that bitcoin could go to 500K and potentially higher to 600K, according to his stock-to-flow model.
Sarathy concurs that there are risks involved with investing in these cryptocurrencies, including price volatility, cybersecurity concerns and a lack of regulations compared to traditional currency. Ultimately, it's up to each individual user how much risk they want to take.
While the future of Bitcoin is unknown, retail investors must be very cautious about every move of Bitcoin, as it has witnessed tumultuous before. Moreover, India's stance on cryptocurrencies continues to be firm, with the government bringing all crypto-related transactions under the ambit of the Money Laundering Act.
| USD | BTC |
|---|---|
| 500 USD | 0.008816 BTC |
| 1,000 USD | 0.01763 BTC |
| 10,000 USD | 0.1763 BTC |
| 100,000 USD | 1.76 BTC |
A reasonable assumption that Bitcoin could hypothetically reach the null state of it's value is worth the thought. Even-though such an event is very less likely to take place, there are some factors that could theoretically lead to Bitcoin price crashing to zero.
How many people own 1 Bitcoin?
Summary: As of 2024, there are about 420 million cryptocurrency users globally. Of these, approximately 1.5 million individuals possess more than 1 Bitcoin, which is just 0.36% of all cryptocurrency users.
Crypto investing, in particular, is known for its sharp swings up and down. The daily volatility can be jarring if you are new to crypto. And it can be very confusing to determine why a particular crypto is trading up or down at a particular moment. That's why a buy-and-hold strategy can make so much sense.
“Based on the current market trend, it is possible that bitcoin may reach up to $100,000 by the end of 2024 and could potentially surpass $200,000 by the end of 2025,” Collins said. Unfortunately, he said it's unlikely bitcoin's momentum in 2023 and 2024 will continue indefinitely.
Convert United States Dollar to Bitcoin
1 USD equals 0.000016 BTC. The current value of 1 United States Dollar is +3.25% against the exchange rate to BTC in the last 24 hours. The current Bitcoin market cap is $1.26T. Create a free Kraken account to instantly convert USD to BTC today.
In addition to Cathie Wood of Ark Invest, who famously predicted a $1 million price in 2022, there's now Jack Dorsey, co-founder and former CEO of Twitter. In a recent interview, Dorsey suggested that Bitcoin is going to "at least a million" by 2030.
