Bitcoin’s Price Surge: Why You Should Invest Now

As I sit down to write this article, Bitcoin’s price is hovering around $56,500, a whopping 23% off its peak price. Many investors are wondering if they should add the world’s top cryptocurrency to their portfolio while it’s still relatively affordable. In this article, I’ll make the case for why I believe the answer is a resounding yes.

Focus on the Near Term

Bitcoin has been trading sideways since March, struggling to break out and reach new heights. However, I believe this is an opportunity in disguise. The recent approval of spot Bitcoin exchange-traded funds (ETFs) by the Securities and Exchange Commission has opened up new avenues for investors to access the cryptocurrency. With greater accessibility and convenience, I predict that larger pools of capital will flow into Bitcoin, driving up its price.

Bitcoin ETFs have made it easier for investors to access the cryptocurrency.

The halving event in April, which cut the new supply available to miners by half, is another near-term catalyst that could propel Bitcoin’s price upwards. Historically, this event has led to a major bull run for the crypto in the 12 to 18 months following.

Focus on the Long Term

Looking beyond the short term, there are several reasons to be optimistic about Bitcoin’s potential. Companies like Block are working tirelessly to develop tools and services that will drive adoption and increase the cryptocurrency’s utility. As the world becomes increasingly digital, it’s likely that more people will turn to Bitcoin as a store of value.

Companies like Block are driving Bitcoin adoption.

Demographics also play a crucial role in Bitcoin’s future. Gen-Zers are more likely to own crypto than stocks, according to a survey by Policygenius. As this generation grows older and their purchasing power increases, I predict that they will drive up demand for Bitcoin.

The Potential for Growth

If Bitcoin’s market cap reaches half the estimated value of all the world’s gold, investors are in for a pleasant surprise. With a fixed supply of 21 million bitcoins, the digital currency is scarcer than gold, making it a potentially superior asset. If Bitcoin’s market cap reaches $8 trillion, each coin would be worth roughly $380,000, implying an impressive nearly sixfold gain from today’s market cap.

Bitcoin’s scarcity makes it a potentially superior asset to gold.

In conclusion, with Bitcoin trading well below the $60,000 level, I believe investors would be wise to consider buying and holding the crypto for the long haul.