2022 was a very rough ear for Bitcoin and other cryptocurrencies. Bitcoin is the largest cryptocurrency in the world but it lost about 65% of its market value in 2022. Is Bitcoin worth investing in 2023? Some unfortunate events affect cryptocurrencies.
The Terra Luna crash, the looming macroeconomic conditions, and the fallout of the biggest crypto exchange FTX are some events that hit cryptocurrency so hard. What will be the future of Bitcoin and many other cryptocurrencies? Will it crash again or rise in 2023?
Is Bitcoin Worth Investing In 2023?
You are not the only one who is nervous about today’s cryptocurrency market. But will you still invest in Bitcoin or other cryptocurrencies? There are several reasons why you should stick with Bitcoin and cryptocurrencies in 2023. Below are the reasons you may want to learn.
Now is the lowest price
At its peak, the cost of Bitcoin can reach $70,000 per token. The price of Ethereum can reach $5,000 per token. But today, you can buy a token of Bitcoin for only $21,000 and a token of Ethereum for only $1,500. Those prices are the lowest you can get.
If you are looking for the best moment to invest in crypto where the price is very affordable, the chance is today. At their lowest prices, Bitcoin and other cryptocurrencies are now worth investing in. This crypto market is now at its clearance and it is highly possible to get quality investments at a lower price.
A lucrative upswing
Nobody knows for sure whether the market of cryptocurrencies will recover. But, downturns like what happened in 2022 are not something uncommon in the crypto market. Most cryptocurrencies have faced worse events in the past but they found a way to grow back again.
In 2018, for example, the price of Ethereum fell by about 95% throughout the year. If you long-term investment at its lowest price, only in three years, you will see returns of about 4,500%. But again, it is still unclear what the cryptocurrency holds.
You may not experience another similar rally to the surge that happened in 2020 and 2021. So, is Bitcoin worth investing in 2023? Even if cryptocurrencies don’t reach the all-time highs again anytime soon, the small upswing in this market can be lucrative, as long as you invest at its lowest price.
A huge opportunity
Cryptocurrency can be a very speculative investment. No one, including the experts, understands how the market is going to fare over the very long term. It may be fail but it may also change everything. If you can’t decide whether to join Bitcoin investment, consider some options.
Are you ready to invest now and then lose your money if the cryptocurrency fails? Or do you prefer not investing and then missing out on the investment opportunity if cryptocurrency succeeds? This doesn’t mean anyone must go all-in and then invest all their money in crypto.
You need to buy wisely and invest only if you can afford it. However, some people are ready to risk a little money no matter if is it worth investing in Bitcoin.
A Reason Not to Invest in Crypto
Those three things above are the reasons why people want to invest in Bitcoin. But you may want to know one more reason, why you shouldn’t consider cryptocurrency to invest in. Is Bitcoin worth investing in 2023? If you are a risk-averse investor, then you shouldn’t consider cryptocurrency.
The cryptocurrency market has many potentials but it also carries a lot of risk. Right now, it isn’t possible to know whether this market is going to succeed or not. There is always a chance you can lose things you invest. If your money is tight, 2023 is not the best time for you to buy.
Cryptocurrency investment is also notorious for its extreme volatility. Even in its best time, the market may experience ups and downs. Not every single investor is ready to face crypto and it is OK. Crypto’s future is not certain. Is this the best time for crypto? It will all depend on the risk you can tolerance.
Share Your Thoughts About Crypto
Do you have your own thoughts about whether is Bitcoin worth investing in 2023? Then you may want to share your opinion and invite people to invest in something more potent. Share your thoughts easily by using Hitech Enterprise Terminal, a special device from SMS Broadcaster.
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