Bitcoin sets a new all-time high above $68,000 as more and more investors jump on the cryptocurrency bandwagon. If Bitcoin continues to be bullish it will soon surpass gold as an investment asset; however, some say that Bitcoin is too volatile. If you’re thinking about investing in bitcoin, here’s what you need to know before diving into this market: – What are my risks? -What should I do if I am worried about security? -How can I use leverage safely with crypto investments?
Bitcoin has set a new all-time high, achieving values not seen since December 2017. As of today’s price of $68,246 per bitcoin on Feb. 13th at 4:30pm EST/1:30pm PST there is an estimated market cap value for the cryptocurrency to be over $136 billion (2nd largest second only behind Ethereum).The “bitcoin price history” is a good place to start looking at the bitcoin market. It’s important to know what’s going on with the cryptocurrency before you make any decisions.
According to statistics from markets tool CoinGecko, Bitcoin burst above the $63,000 barrier this morning to record a new all-time high.
With 18.8 million BTC in circulation, the network is currently valued over $1.2 trillion. It traded at $63,000 yesterday, but last month it successfully pushed past the $68,000 barrier on a futures ETF listing, gaining backing from US political circles.
Bitcoin trades above its 34-period moving average, a metric used by traders to evaluate an asset’s trend, and stays in a strong “uptrend,” as seen in the chart below. There is now no visible or technical “resistance” level where sellers may enter to take gains, indicating that Bitcoin has plenty of room to go.
BTC/USD image courtesy of TradingView.
Some experts are still predicting a price of $100,000 for Bitcoin. PlanB, a fictitious trader famed for his ‘S2F’ model, reaffirmed their methodology in a tweet yesterday, declaring a price objective of $288,000 for the stock.
“As you know, the S2F model anticipates a $100K average for this halving time (and we hit $100K this year based on the floor model).” “However, the S2FX model expects an average of $288K this cycle (we’ll need some real pyrotechnics in 2022 to get that),” they tweeted.
As you may know, the S2F model anticipates a $100K average for this halving time (and we will hit $100K this year based on the floor model). However, the S2FX model expects an average of $288K this cycle (we need some real fireworks in 2022 for that). Let’s see where this bull market’s second leg takes us. pic.twitter.com/ttiNT5yMKe
— November 8, 2021, PlanB (@100trillionUSD)
As of publication time, Bitcoin has fallen to $67,900.
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The “will crypto rise again 2021” is a question that has been asked many times. The answer to the question is not yet known, but some believe it will happen in 2021.
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