Bitcoin has nearly doubled in value so far in 2021 with just a month to go until the new year. It’s been a wild ride getting there, though. After a big surge last winter, the original cryptocurrency was halved in price over the summer, only to reclaim all-time highs again in the autumn.
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But with the new omicron coronavirus variant sending investment markets into turmoil again, the arbitrary but long-awaited $100,000 Bitcoin milestone (74% higher than the going price as of this writing) is still a ways off at this point and looks unlikely to be reached in 2021.
But cryptocurrency prices are volatile, both on the way down and the way up. It’s possible Bitcoin could reach the $100,000 mark in 2022.
What I’m not saying here is that you should pile into Bitcoin. Investing in cryptocurrencies of any kind — including the original and largest token on the block — isn’t for everyone. Even if Bitcoin should arrive at $100,000 in 2022, it’s going to be a wild ride. If you do invest in this volatile space, keep those bets a small percentage of your total investable net worth. And if you decide to replace any cash position in your investment portfolio with Bitcoin, don’t use up all your dollars.
Inflation does eat away at your buying power over time, but cash has its merits. It doesn’t fluctuate in value as cryptocurrencies do, and having some cash laying around affords the opportunity to buy on the inevitable dips in investment values.
Nevertheless, Bitcoin is picking up interest from all sorts of big organizations around the globe, and a rally higher in 2022 is quite possible. If you’re interested in investing in cryptocurrencies, Bitcoin is a great place to start.
Tricky but I would say yes it would reach that level.
Cryptocurrency mainly needs more patience