Bitcoin has gained so much popularity and recognition in the past few years that it rose from nominal prices to almost $69000 in 2020. It however gained hundreds of billions of dollars in capitalization over the years. The situation has changed with both appraisals/approvals and backlashes on the cryptos by some countries, especially government officials.
Inflation is another problem, and they have successfully caused Bitcoin to remain at lower levels compared to its all-time peak of almost $69000. Its market capitalization today is a little above $454 billion, which is still a good value. However, in events that more backlashes and higher inflation negatively affect the crypto some more and finds itself at about $1000. What would be your reaction? Will you turn your back on Bitcoin or has your investment just begun on it?
As for me, my investment has just begun. I have learnt from my past mistake.
But we all know about Bitcoin. Bitcoin price was very low at one time.But slowly its popularity increased a lot and the price started increasing very fast.Bitcoin reached an all-time high of $69,000.Then slowly the price of bitcoins came down again. Currently, the price of Bitcoin is hovering around $19,000.That has put people in a lot of tension and Bitcoin has lost a lot of power.Now the question is how people will react if the price of Bitcoin goes to $1000.Although different feelings will work in people's minds, people will invest in Bitcoin the most.Because people know Bitcoin's highest record. And Bitcoin is likely to set even more new records one day.