Should you buy Bitcoin while it is in the $30,000 range?
Happycoin.club – With Bitcoin (BTC) holding above the $30,000 mark, the question of the optimal entry point remains relevant in the crypto community and financial world. It is noteworthy that for most of the year the main cryptocurrency was trading below the $30,000 threshold.
Despite these fluctuations, experts say that the attractiveness remains unchanged, and this provides the cryptocurrency with an influx of funds. Indeed, Bitcoin is showing bullish signs, benefiting from various factors contributing to its upward trajectory.
One of the most significant is the potential approval of spot Bitcoin exchange-traded funds (ETFs). Major players such as BlackRock have filed applications with the Securities and Exchange Commission (SEC), and the regulator’s decision deadline is set for January. The appearance of this product will lead to the infusion of colossal capital into Bitcoin.
Another important event is the upcoming Bitcoin halving, scheduled for April 2024. Every four years, it reduces the rate of new coin creation by half, and also causes a bullish trend before and after it. Given this pattern, the current moment may be a good time to purchase bitcoins.
Depending on the halving phase, the cryptocurrency could show a parabolic rally, even rising to around $120,000.
Bitcoin proponents argue that the cryptocurrency is attracting attention from traditional finance because of its limited supply, decentralized nature and growing institutional adoption. For this reason, Bitcoin acts as a hedge against inflation and economic uncertainty, becoming an attractive option for portfolio diversification.
Given short-term catalysts and long-term trends, buying Bitcoin in the $30,000 range could be a smart investment strategy.
On the evening of November 19, Bitcoin traded above $36,000, reaching $36,950.
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