Is Investing in Bitcoin Worth It in 2024 for the Long Term?

2024 is the year of Bitcoin. Yes, you’ve read it right! Since its advent in 2009, Bitcoin has attracted several investors and completely transformed their lives. Recently, we have observed a sudden boom in its value after the launch of highly anticipated bitcoin exchange-traded funds.

So, Is it just luck, or is there science? Stick around to learn more about its expected value, worth, and much more in 2024!

How High Will Bitcoin Go In 2024?

Folks! We have a good news and a good news!

Bitcoin is expected to reach its new all-time high value in 2024. According to a report, it will reach $88000 and settle at $77000 at the end of the year.

The current bitcoin price USD is $73,321.

Moreover, investors are optimistic that the value will most likely surge after the BTC halving event in April 2024. Every four years, the reward for mining Bitcoin is cut in half to control the new coins released in the market.

Hence, this decreases the supply of Bitcoins, ultimately leading to higher prices.

Benefits of Investing in Bitcoin Right Now

Cryptocurrencies like Bitcoin have entirely digitized our lives and provided us with the freedom to transact without relying on traditional banking and financial institutions. Here are some benefits you can enjoy:

1.    Decentralization

Bitcoin was created by an anonymous person who disappeared a decade ago.

Sounds creepy!

However, the code behind Bitcoin can’t be manipulated, making it a decentralized model for money. It is a safe and secure investment, as no one can access and steal your assets.

2.    Instant Transactions

Gone are the days of waiting for bank transactions and answering a million questions.

Welcome to 2024!

Bitcoin only takes 10 minutes to make transactions. There is no limit to how much money you can send at a time, and no one will ask you anything. Besides, your user ID is completely anonymous; therefore, government institutions can never track your next move.

Immediate Bitwave is a trading platform that provides you real-time information about the market trends and coin value. With its easy-to-use interface and compatibility across all devices, you can become an expert trader in no time.

3.    Best in Value

Believe it or not, Bitcoin is the best-performing asset of the decade. It is a store of value in countries like Turkiye, Argentina, and Venezuela, which are affected by hyperinflation.

Citizens of countries with weakened local currencies are turning to OTC markets to buy bitcoin.

This helps to offset the damage to their monthly paychecks caused by the drastic loss of value against the dollar.

Future of Crypto in the Next 5 Years

With its potential for high returns balanced by risk and volatility, cryptocurrency offers an alluring mix of promise and innovation for the future.

Bitcoin’s success dramatically influences the entire crypto industry. In the next five years, analysts believe limited supply following halvings and increased institutional adoption could push Bitcoin toward $100,000 and beyond.

Final Words

The prospects for 2024 are optimistic, and if you are a long-term investor, now is the time to make your next move!

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