Will Bitcoin Rise More in 2024?

After all the events that have taken place in the past years, we can agree that the world is constantly changing, which is great. The world must constantly change because every change is for the better. The changes come from many aspects of life, but mostly in the areas of production and economy. The economy as a branch is especially important for the development of the whole world. Why?

Because only if the world is economically stable will we have a stable and strong world. So the changes came from all sides, and the introduction of digital currencies stands out as the biggest and most respected change. It is a new concept that has definitely moved investment standards to a better level. Proof of this is the investment in Bitcoin, which stands out by the standard and placement of cryptocurrency exchanges.

Trading with Bitcoin has become the main occupation for over 5 million people around the world. Ever since this cryptocurrency was established in 2008, it has managed to reach heights that no one could’ve ever predicted. 2024 has been a historical year for Bitcoin as this cryptocurrency managed to become as valuable as gold, which is something that no other product or service has managed to do in history.

The current value of Bitcoin is over $50,000 and the best part about it is that it is extremely stable. Bitcoin has held this price for over a month and it does not show any signs of slowing down. Some experts even believe that the best is yet to come. We wanted to take a closer look at this claim and see why it is believed that Bitcoin will still rise in value. But first, let’s figure out why Bitcoin is so popular.

Why is Bitcoin so popular?

img source: www.cnbc.com

If in the past people were more focused on saving, today they are more focused on investing. Why is that? This is because of the growing economic and financial literacy of people around the world. There are more sites available today, videos, and other content that cares about educating people economically. Miraculously, many people are interested in such content. Another positive change is that people are hearing messages from economists who say it is better to invest. Especially that it is good to invest in the three best things. In the third place, they place the real estate, in the second place they place the shares of the big companies that bring big income, and in the first place they place the cryptocurrencies, and as a particularly good option they single out Bitcoin.

Bitcoin holds a ton of advantages over regular payment methods. First off, this cryptocurrency allows the users to have instant online transactions, which is not the case with regular payment methods because they have a processing time that can last up to 5 business days.

Next up, Bitcoin provides its users with a certain level of anonymity by utilizing a method called cryptology. This method uses codes as a means of communication and thus, gives a greater level of security to its players.

The biggest possible advantage that Bitcoin has is that it allows its users to make substantial profits. Reportedly, there are over 100,000 millionaires in the world that managed to make money by trading with Bitcoin. As we mentioned earlier, this cryptocurrency is valued at over $50,000. To make money with it, traders use reputable trading sites such as OilProfit.

The reason why we mentioned this specific platform is that it uses an advanced AI system that analyzes the market and collects all the data about the market’s future behaviors. Bitcoin trading sites operate similarly. The data that AI systems collect is used to make accurate predictions on Bitcoin’s future fluctuations. After that, the results are shared with the traders, who now know when is the best time to sell their assets and maximize their profits.

Finally, Bitcoin has a peer-to-peer focus that excludes banks from every transaction. In doing so, they are not able to impose their fees, thus people are actually saving money with each regular transaction. To make things even better, general fees for international transactions are much lower.
Now, let’s see why Bitcoin is expected to rise even more.

What The History Tells Us

img source: cryptoheroes.ch

To understand the argument better, we’ll take a look at some events in history which have proved to be good indicators on when will Bitcoin peak in value – halving events. So far, there have been a total of 3 halving events in the history of this cryptocurrency.

The first one was held in mid-2012, the second was in mid-2016, and the third took place in May 2024. All of the halving events led to a price surge, but here is the thing. After the first two halving events ended, it took exactly a year and a half for Bitcoin to peak in value.

After the first halving event in mid-2012, Bitcoin peaked at $713 in January 2014. The second halving event was held in mid-2016. Bitcoin peaked at little less than $20,000 in December 2017 – exactly a year and a half later.

The third halving event took place in May 2024 and even though Bitcoin broke numerous records in value, experts believe that according to historical data, Bitcoin is yet to reach its full potential. Hence, they believe that Bitcoin will rise even more and peak around summer or autumn this year.

Why are Bitcoin growth projections like this?

img source: currency.com

The projections are based most honestly on the situation around the world in terms of primarily the economic situation, and then in terms of health status and peace. Given that the world lives in conditions of a pandemic that the whole world is working to alleviate, it is considered that the situation will slowly calm down. The whole world is already being vaccinated and it is assumed that by summer or autumn this year at least one-fifth of the total population worldwide will be vaccinated. This will improve the economic situation around the world, and believe me it will affect Bitcoin, which needs stability to continue to grow even more and more and thus bring benefits to all those traders and owners of this crypto.

That is why we encourage you to continue with your investments. They are the ones who bring you safe days, cash flow, and a safe financial fund at home. It is ideal to invest, especially in this time of the pandemic. So try to improve your trading, improve your stakes and succeed because Bitcoin offers you that chance and it would be a great pity if you did not use it.