how much can cryptocurrency go up


Make trend predictions Bitcoin it is not at all simple, given that there is a very high volatility on this cryptocurrency, which can lead to rapid drops in the price but also sudden spikes.

To understand when it’s time to invest in Bitcoin or when to trade, in the following chapters it is possible to take a look at the value of Bitcoin against the Euro and the US Dollar and the analysis of the factors that can affect a future increase in the price of the cryptocurrency.

The information provided should be used at your own risk: the editorial staff cannot be held responsible for any economic losses resulting from the use of the information contained in this article.

Bitcoin-Euro value chart

Bitcoin-US Dollar value chart

Bitcoin historical trend

The first factor to analyze to try to understand the long-term trend of Bitcoin is theprice history analysis, to be carried out over a very long time window (at least 1 year). Below you can find the historical trend of Bitcoin over the last 12 months.

Analyzing the graph it is possible to note that, in the vast majority of cases, the price changes have materialized with 3 or 4 sudden increases, followed by 2 or 3 decreases (in some cases very extensive).

Although this scheme cannot be replicated with absolute precision (unfortunately it is not an “exact science”), it can be a good starting point for trading on the Bitcoin price, without having to buy new cryptocurrency.

If we decide to focus on the decline of Bitcoin it can be a good strategy to start investing on the downside after 3 increases in value.

Conversely, it is advisable to invest in the rise of Bitcoin after at least 2 falls, so as to be able to optimize the chances of generating a profit both when the cryptocurrency falls and when its value skyrockets.

To fully understand the difficulties in identifying the right time window in which to invest, it may also be useful to analyze the value of Bitcoin in the current year, as shown below.

Trend last year

The number of rises and falls are very frequent, thus confirming the high volatility present on this cryptocurrency.

Analyzing the graph it is evident that in May, Bitcoin underwent a series of significant declines, which have more than halved its value: a joy for those who invested in the decline of Bitcoin, a tragedy for those who invested in the rise or alternated rises and falls trying to “ride the wave”.

Therefore, relying only on graphs is not enough to get good predictions on the long-term Bitcoin trend.

Using the graphs at the beginning of the guide we can immediately obtain the updated evaluations in real time, so as to obtain the annual data personally also in the future, thus using the indications provided only as a starting point for future analyzes.

Bitcoin trend forecast: external factors

Alongside the analysis of the cryptocurrency charts, it is also essential to keep all the other “external” factors that influence the value of Bitcoin under control, so as to be able to anticipate the market and guess for yourself when Bitcoin will rise or fall. The factors to be taken into consideration are:

  • Adding / removing Bitcoin as a payment method: any news on the adoption of Bitcoin as a new payment system (both on online sites and in physical stores) will lead to an increase in the value of the cryptocurrency proportional to the spread of the news itself and to the person who carried out the adoption. On the other hand, it is necessary to pay close attention to the removal of Bitcoin as a payment method: the caso Bitcoin-Tesla brought down the value of Bitcoin in May.
  • Bitcoin as a legal currency: if a state decides to recognize Bitcoin as legal value on a par with the native currency, the value of Bitcoin will tend to rise, especially if the adoption takes place by states with a large economy behind them. At the moment, Bitcoin is only a legal tender The Savior (not the best from an economic point of view), but also other states are considering this possibility.
  • Energy and environmental factors: probably one of the most underestimated factors but which can make the difference between a strong gain or a dizzying loss when we talk about Bitcoin. Bitcoin mining is proving to be increasingly expensive in terms of energy resources, putting the electricity grids of countries where the cost of energy is (still) very accessible in great difficulty. China was in fact the main “producer” of Bitcoin, only to come across it Chinese government ax, which caused the price of Bitcoin to return at the beginning of 2021 (after increases of up to 60,000 dollars). Depending on where Bitcoin production will move now or where it will be blocked it will affect the final price and fluctuations.
  • Social interventions of illustrious personalities: nowadays even a simple tweet is enough to raise or lower the value of the cryptocurrency. It is therefore advisable to follow on Twitter or on other social networks the characters who have interests at stake with cryptocurrencies or who manage activities related to cryptocurrencies, so as to be able to understand for themselves whether it is worth investing or not. To understand the weight of these social interventions just read the news on Elon Musk e Bitcoin Mining Council or the threats to the aforementioned American tycoon from Anonymous.

We do not underestimate any factor and we always try to read any news about Bitcoin, perhaps following it special Bitcoin present on our site.

Conclusions

Predicting the trend of Bitcoin with absolute precision is impossible, but the difference between those who know how to invest well and those who invest “gut” lies in the analysis of all the information available: from the Bitcoin charts to the external factors that influence it. the trend (often in a marked way). Therefore, inquiring is the most effective strategy to make money with Bitcoins both if we are willing to buy cryptocurrency and if we decide to fare trading on the market value of Bitcoin.

The FAQ on the subject could not be missing, so as to be able to dispel the last doubts on how to have reliable forecasts on the trend of Bitcoin.

Frequently asked questions on Bitcoin trend forecasts

Can we accurately predict the trend of Bitcoin?

Currently it is not possible to accurately predict the trend of Bitcoin: it could very well burst the bubble at any moment or resume its run and exceed $ 100,000 in a few days or even a few hours, it just needs to be communicated. the “right news”.

Is Bitcoin destined to go up or down?

Bitcoin is a highly volatile asset, so it is not possible to accurately indicate whether it will rise or fall. We analyze all the information and charts of the cryptocurrency, then decide what to bet on.

Do other cryptocurrencies follow the same rules as Bitcoin?

Bitcoin is the currency with the highest market valuation and consequently its rises or falls also affect other minor cryptocurrencies. Therefore, if we have a portfolio made up of different cryptocurrencies, it is always advisable to follow the trend of Bitcoin, since in fact the latter works as a sort of “locomotive” for the entire cryptocurrency sector.

Is it better to buy cryptocurrency or trade?

Probably at the moment it is worthwhile to trade on cryptocurrency, so as to be able to profit from both the rises and falls (when they are hit!). If we decide to buy cryptocurrency, it is advisable to always do it in times of decline, so that we can later resell it (after hours, days, months or years) at a higher price than the purchase price.


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