Bitcoin will Take Many Years to Record Another ATH! Will Investors be Patient?
Bitcoin might not experience a new ATH anytime soon, investors are now getting anxious about their investments
Bitcoin has always divided the investment community. On one side, there are those who believe that digital assets might become the very revolution that the industry needed, and on the other side, the industry has skeptics who are extremely doubtful about the future prospects of cryptocurrencies. Bitcoin, being one of the most important cryptos the market always had critical eyes on it. Currently, as the BTC token is trading in the red zone, key indicators and analysts had joked that the declining value of Bitcoin may fall as low as the US$0 mark. The BTC price has already crashed by more than 60% this year and is expected to continue to fall! However, its biggest rival Ethereum is recovering full-blown, deepening fears about overthrowing Bitcoin soon in the future. Currently, at the time of writing this article, Bitcoin is trading close to the UA$23,000 mark, demonstrating a significant rise in its value after Ethereum’s price rally. Unfortunately, it seems like, instead of Bitcoin, now Ethereum is driving the market and might definitely become the biggest cryptocurrency in the market very soon!
Initially, Bitcoin fell rapidly after the dramatic crash of the Terra USD stablecoin. This is one of the major reasons why crypto investors started feeling the market which led to the massive Bitcoin crash in May 2022. However, the BTC crash was also the result of several other grim economic and financial downturns. It is anticipated that the BTC price will hit the US$10k mark before 2022 ends, before probably turning around towards a bullish price rally. Experts continue to suggest to investors that the current scenario is not sustainable to invest in Bitcoin due to the global macroeconomic issues and the fluctuating regulatory landscape.
When will Bitcoin recover?
Based on the current situation, it might take a lot of time for the BTC token to regain back its previous all-time highs and investors need to be extremely patient since the crypto market is still extremely volatile at this stage. The decentralized crypto market is extremely susceptible to manipulation and mismanagement, and to make things worse, the market is continuously following the footsteps of the stock market, making it impossible for digital assets to recover easily.
Quite recently, Ethereum Foundation member Tim Beiko suggested that the Ethereum Merge upgrade might probably be launched in September. The Merge will represent one of the biggest developments in the crypto market, aiming to eliminate the need for energy-intensive mining and also secures the ETH network for using staked ETH. This ETH price rally led to a massive increase in the values of other altcoins and also took out Bitcoin from its previous price barriers. But experts believe that under bearish market conditions, such relief rallies are quite common and do not indicate long-term prospects of a volatile cryptocurrency, like Bitcoin. Furthermore, the revelation of the US inflation data is scaring investors away from decentralized assets, deepening fears that the Fed and centralized organizations will become more aggressive in their fight to curb the impact of inflation.
So, should investors wait for the crypto to recover?
Bitcoin has survived some of the worst economic conditions in its brief history and continues to remain one of the biggest cryptocurrencies in the world. Based on the present conditions of the market, crypto investors are waiting for a robust investment opportunity that would involve the stability of the Bitcoin price, but the idea is still quite far-fetched. Bitcoiners have to be extremely careful before investing in crypto and stay cautious of aggressive crypto downturns.
The post Bitcoin will Take Many Years to Record Another ATH! Will Investors be Patient? appeared first on .
Bitcoin might not experience a new ATH anytime soon, investors are now getting anxious about their investments
Bitcoin has always divided the investment community. On one side, there are those who believe that digital assets might become the very revolution that the industry needed, and on the other side, the industry has skeptics who are extremely doubtful about the future prospects of cryptocurrencies. Bitcoin, being one of the most important cryptos the market always had critical eyes on it. Currently, as the BTC token is trading in the red zone, key indicators and analysts had joked that the declining value of Bitcoin may fall as low as the US$0 mark. The BTC price has already crashed by more than 60% this year and is expected to continue to fall! However, its biggest rival Ethereum is recovering full-blown, deepening fears about overthrowing Bitcoin soon in the future. Currently, at the time of writing this article, Bitcoin is trading close to the UA$23,000 mark, demonstrating a significant rise in its value after Ethereum’s price rally. Unfortunately, it seems like, instead of Bitcoin, now Ethereum is driving the market and might definitely become the biggest cryptocurrency in the market very soon!
Initially, Bitcoin fell rapidly after the dramatic crash of the Terra USD stablecoin. This is one of the major reasons why crypto investors started feeling the market which led to the massive Bitcoin crash in May 2022. However, the BTC crash was also the result of several other grim economic and financial downturns. It is anticipated that the BTC price will hit the US$10k mark before 2022 ends, before probably turning around towards a bullish price rally. Experts continue to suggest to investors that the current scenario is not sustainable to invest in Bitcoin due to the global macroeconomic issues and the fluctuating regulatory landscape.
When will Bitcoin recover?
Based on the current situation, it might take a lot of time for the BTC token to regain back its previous all-time highs and investors need to be extremely patient since the crypto market is still extremely volatile at this stage. The decentralized crypto market is extremely susceptible to manipulation and mismanagement, and to make things worse, the market is continuously following the footsteps of the stock market, making it impossible for digital assets to recover easily.
Quite recently, Ethereum Foundation member Tim Beiko suggested that the Ethereum Merge upgrade might probably be launched in September. The Merge will represent one of the biggest developments in the crypto market, aiming to eliminate the need for energy-intensive mining and also secures the ETH network for using staked ETH. This ETH price rally led to a massive increase in the values of other altcoins and also took out Bitcoin from its previous price barriers. But experts believe that under bearish market conditions, such relief rallies are quite common and do not indicate long-term prospects of a volatile cryptocurrency, like Bitcoin. Furthermore, the revelation of the US inflation data is scaring investors away from decentralized assets, deepening fears that the Fed and centralized organizations will become more aggressive in their fight to curb the impact of inflation.
So, should investors wait for the crypto to recover?
Bitcoin has survived some of the worst economic conditions in its brief history and continues to remain one of the biggest cryptocurrencies in the world. Based on the present conditions of the market, crypto investors are waiting for a robust investment opportunity that would involve the stability of the Bitcoin price, but the idea is still quite far-fetched. Bitcoiners have to be extremely careful before investing in crypto and stay cautious of aggressive crypto downturns.
The post Bitcoin will Take Many Years to Record Another ATH! Will Investors be Patient? appeared first on .
Denial of responsibility! Techno Blender is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – [email protected]. The content will be deleted within 24 hours.