On January 17th, Bitcoin is worth over $8900. It has grown more than 6% in the last 24 hours, and 15% this week.
Many crypto investors find surprising news every day. Bitcoin changes so quickly that predictions are almost always inaccurate. That creates confusion and uncertainty. In 2020, you can find two trends. One group believes Bitcoin is about to crash this year. For others, it will reach the highest values ever seen.
But what does today’s price mean? Is it relevant enough to make a projection?
Here’s how much the prices of Bitcoin today have changed.
Prices Of BitCoin Today, January 2020
Last day, the Bitcoin raised by 6%, which is at least $500. When compared to last week, it goes from $7700 to $8900. Although there’ve been ups and downs, the cryptocurrency has grown steadily.
Remember, the longer the trend exists, the more predictable is the future of Bitcoin. If we look at the monthly performance, Bitcoin shows consistent positive results. Therefore, there may be fewer price variations this month.
However, it’s not reliable to only look at the past. It’s vital to understand the big picture to justify today’s changes. You can see how its price becomes more and more stable despite the spikes.
We found spikes in December 2018 and July 2019. It represents a yearly growth of 150%. Although some events could cause those variations, the value increases every month.
After looking at these charts, most experts have big expectations about Bitcoin this 2020. The long-term projection has always been excellent. What if Bitcoin reached hundreds of thousands?
Three facts will help you know what to expect this month.
What will Bitcoin look like in January?
You can do some research to learn about future prices. Whether you are looking to buy Bitcoin or sell it, there are three facts to take into account.
- As we can see in the data, Bitcoin has been increasing its value since April 2019. This trend is the product of months of growth, not a sudden spike.
- Although cryptocurrencies are volatile, Bitcoin hasn’t performed that way recently. As mining technology improves, experts expect its value to go up. The more reliable it becomes, the better other firms perceive Bitcoin, and the more people start using this currency.
- investors have to be fast yet patient. Since the price has remained constant, it could be an opportunity to enter the game. It takes the right timing to make the right purchase and sale.
From time to time, Bitcoin prices can either go up or down dramatically but regulate in a few weeks. Even after Bitcoin crashed, it’s price still remained higher than the initial one. That makes Bitcoin an opportunity more than a risk.
In the short term, most investors expect Bitcoin prices to go up. At the same time, short time frames make estimations unreliable and depend on economic events.
Nobody discards that a crash could happen in 2020. For long-term investors, there’s no particular event that can put them at risk. Compared to the last decade, Bitcoin has always grown.