I have seen the Up and Down of BTC, but I could not imagine that it slowly became so popular. Now, I think BTC will do very well in the near future. It is still in very good shape, though. It will cross 100k+ very soon. What is your personal opinion about BTC?
Bitcoin price is increasing day by day, will increase more in future. If we go back 10 years ago then we regret why we didn't invest 10 years ago. 10 years from now will regret the present again. Many people predict that Bitcoin will hit $1 million dollars, I also believe that Bitcoin will definitely hit $1 million dollars in the future. However we may see a bull run soon and Bitcoin may hit $100k in the upcoming bull run. Currently Bitcoin is very reliable, because Bitcoin has been able to recover from huge downs. Bitcoin hit $69k in 2021, dropped to $16k in 2023 but the market recovered within a year.
So investing in bitcoins is very low risk, if you can hold for long term you can definitely profit. Bitcoin is currently very popular and will gain more popularity in the future.
If each bitcoin hits $1 million, that would mean bitcoin's market capitalization would be $21 trillion and surpass an asset that has been around for thousands of years, gold. Just because bitcoin has grown millions of percent in the past doesn't mean it will continue to grow that way in the future. I really want that to happen but I really doubt it.
As you said, the bitcoin price dropped from $69k to $16k and rose to $70k. Does that mean bitcoin is very volatile and a 70% drop in bitcoin in a short period of time is considered low risk? I don't think so. Apart from volatility, we need to consider other factors like its legitimacy, popularity and role in the world…all of which suggest that it is a low-risk asset. No asset can give high returns with low risk.