Cryptocurrency

Published on May 2nd, 2021 | by Sunit Nandi

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Bitcoin Tops $60,000 – What’s Next?

If you thought that Bitcoin reaching $50,000 was a historical moment, that achievement just unlocked a new level. Recently, Bitcoin managed to crack the $60,000 mark and it is still showing no signs of slowing down. 2021 is barely starting and it is set to be the best year in the history of this cryptocurrency.

That is the reason why thousands of new traders register on their network and are keen on starting their trading journey and possibly make a profit. But, many experts believe that the best is yet to come. That is why we wanted to take a look at the case and see why do they believe that Bitcoin will still rise.

But, since the process of making money with Bitcoin is relatively unknown to the general public, we are also going to explain how do traders make a profit in the simplest possible way. Without any further ado, let’s dive into the details.

How Do You Make Money With Bitcoin?

The main ‘ingredient’ to making money with Bitcoin involves mining. With mining, not only are you able to earn Bitcoins, but you are also aiding in the process of maintaining the stability of the network. Mining is actually recording transactions that are made with this cryptocurrency. Each recorded transaction becomes a block and it is integrated into the blockchain. The reward for each transaction that you record is Bitcoins.

And if you are wondering what is involved in mining, you solve various complex puzzles. After you earn your Bitcoins, you turn to trading sites. They are the best possible marketplace for selling them. Bitcoin ATMs are also an option but they are not as accessible as trading sites and charge numerous fees.

One of the most reputable sites – bitcoin-code.io even offers the registered traders with an additional service. It has an advanced AI system that is able to collect all the data about Bitcoin from the market and use it to make accurate predictions. The results are then shared with the traders who now know when is the best time to sell their assets and maximize their profits.

These advanced services are the reason why so many traders were able to profit off Bitcoin. Some reports even stated that there are currently around 100,000 millionaires in the world who managed to collect their wealth by trading.

Now that we’ve cleared the process of making money with Bitcoin, let’s see why experts believe that Bitcoin will continue to rise.

The Best is Yet To Come

Halving is the main reason why experts believe that Bitcoin will continue to rise. Here’s why. So far, there have been a total of 3 halving events – 2012, 2016, and 2020. After the first two halving events ended, it took Bitcoin exactly a year and a half before it spiked in value.

The first time when it spiked was in January 2014 when it reached $713 in value. The second time was in December 2017, when Bitcoin topped $19,000. The last halving event was in May 2020 and even though Bitcoin topped $20,000 shortly after it ended, it continued rising and it hasn’t shown any signs of slowing down.

History told us that it always takes a year and a half for Bitcoin to spike after halving events end, hence it is believed that Bitcoin will reach its peak value in the fourth quarter this year. As for the potential price, there are still no accurate predictions, but we can assume that it can go as high as $100,000.

So, if you are thinking of investing in Bitcoin, now is the time. The potential of this cryptocurrency has never been greater and the profit that you can make is unthinkable.

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About the Author

I'm the leader of Techno FAQ. Also an engineering college student with immense interest in science and technology. Other interests include literature, coin collecting, gardening and photography. Always wish to live life like there's no tomorrow.



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