The past year has been a wild ride for cryptocurrency, with prices reaching record highs as well as devastating lows. While prices have been sliding for the past few weeks, now might be a good time to invest in Bitcoin. BTC is currently trading at just under $39,000 per token, down from an all-time high of nearly $70,000 in November 2021.
If you’ve been waiting for a more cost-effective time to invest, now might be the time.
What is Bitcoin (BTC)?
Bitcoin is peer-to-peer internet money, which means that all transactions are carried out directly between equal, independent network users, with no need for any middleman to enable or facilitate them.
According to Nakamoto’s own words, Bitcoin was intended to allow “online payments to be sent directly from one party to another without going through a financial institution.” Satoshi Nakamoto, the original creator of Bitcoin, is known only via a pseudonym. The exact identity of the individual or organization behind the pseudonym is unknown as of 2021.
Why Invest in Bitcoin (BTC)?
For the first time in 2021, the market capitalization of cryptocurrencies surpassed $3 trillion, and it was less than $800 billion at the start of 2021. Who can claim to have predicted these events? It isn’t easy to see into the future.
Bitcoin is by far the most prominent cryptocurrency, and it tends to indicate broad trends in the crypto market. Bitcoin’s price hit an all-time high of almost 68,000 dollars in 2021. Many experts say it is just a matter of time until BTC reaches $100,000, implying that 2022 may be a good time to invest in Bitcoin.