To the moon!
No, but seriously. It sort of can. Don’t be fooled though, it can just as easily, if not more easily, go back down to almost $0.
The answer to the question of how high Bitcoin can go is really a tough one though. Why? Because there has never been anything like Bitcoin for us to compare it to. It’s a completely new type of money that lots of people really just have no idea what to think about it.
Yes, it’s risky. Yes, it’s a volatile currency. Yes, there’s a ton of “alcoins” or alternative currencies that are clamoring for market share against Bitcoin. And, Yes, there’s even a bunch of chaos within the Bitcoin community over which way Bitcoin should move forward.
A small example of the “chaos” is when Bitcoin split into Bitcoin and Bitcoin Cash in what the interwebs is calling a “hard fork”. Not only that, but Bitcoin is expecting to split once again into a 3rd Bitcoin currency.
This can all go over people’s heads when you tell them about it. I’ve researched this stuff thoroughly and sometimes I’m sitting here scratching my head and reading the same thing over and over again until it sinks in. Sometimes it doesn’t quite sink in so I have to research some more and ask around in the forums.
This is all new stuff, but it doesn’t look like it’s going anywhere anytime soon.
Should I own Bitcoin or some other cryptocurrency?
A question that people make ask is if they should invest in Bitcoin. Would it be wise to do so? Is Bitcoin the best option or do we have better options in the cryptos?
In my opinion, you shouldn’t put anything into the cryptocurrencies that you can’t afford to completely lose because that is 100% a possibility. However, I would also highly advise you to at least get yourself a small investment. Get yourself a secure Hardware wallet, put some Bitcoin in it and store it away for a few years.
I just think that rewards are truly worth the risk.
How high can Bitcoin go in value?
Can it go to $10,000? To $100,000? To $500,000? What about to $1,000,000?
Yes, I think all of those numbers could potentially be possible. Some of this stuff still sounds crazy and “bubbly”, but just think about it for a second. Cryptos like Bitcoin are a thing that can be used worldwide. Although they’re still very new we have more and more businesses and people using them everyday. This trend doesn’t seem to be slowing down, instead it’s picking up steam.
Have a look at some of these articles, all written this year. They all have something interesting to say about Bitcoin’s potential value.
You probably recognize some of these names. CryptoCoins News might be a new one for you, but I’m sure you’ve heard of CNBC.
Don’t be fooled into putting all your eggs in the crypto basket though. For every person or “analyst” that thinks Bitcoin can rise to 6 figures you’ll find that there’s also someone that thinks it will crash back down to nothing.
If you just can’t stomach all of this then maybe you can just watch from the sidelines. I’ll be in it playing the game.