There has been much speculation about how much bitcoin will go up or down in the year 2020. There were many financial experts who have predicted a big increase for bitcoin in a relatively short period of time. It seems like that might very well be the case. That is because bitcoin has now officially crossed over the $10,000 mark for the first time this year. That means that it has increased by 40 percent since the start of the new year a little more than five weeks ago. There might be some very good things in store for bitcoin investors as 2020 continues.
During the last few months of 2019, traders around the world were down on bitcoin. There was a very good reason for this. The price had been bouncing around between $6,000 and $7,000. It was not making any big gains. There were even predictions that the bottom would drop out of bitcoin in the months ahead. Many investors got scared and started to sell. However, the savvy investors knew that they had to have confidence in bitcoin. It would seem that their confidence has finally been rewarded. This big increase could be a sign of even more exciting things to come.
Investing in bitcoin can be very tricky. You really need to know what you are doing. Otherwise, you might lose a lot of money. The people who held onto their bitcoin during the tough times are sitting pretty right now. These people realized that the market has a way of naturally correcting itself and evening out over time. It was just a matter of remaining calm and not panicking as the value of bitcoin kept dropping more every day. Investing in bitcoin is definitely not for the faint of heart.
It is generally agreed by bitcoin trading experts that it will keep going up a little more before the value will eventually begin to decline. Predicting when the decline will start is the tricky part. There are conflicting theories on this subject from some of the foremost authorities on bitcoin in the world. We will need to wait and see to find out which one of these people is correct in their prediction. Many people are becoming familiar with bitcoin. Trading has increased on various platforms around the world as more people create digital wallets. It is becoming a more mainstream form of currency every day.
Further Reading: https://cryptocurrencynews.com/bitcoin-btc-crosses-10k-mark-02-10-20/
