Bitcoin (BTC) is one of the best-performing assets of the last decade. However, the original cryptocurrency’s price plummeted in 2022, reaching a low of around 15,700 on Nov. 10, 2022. Nonetheless, BTC’s price has made significant gains over the last year.
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If you had invested $1000 in BTC every month since November 2022, you would have put in $16,000 till now. However, the portfolio’s value would have surged to $32,788.65, a growth of 104.9%. In other words, your initial investment would have more than doubled in about 15 months.
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Will Bitcoin (BTC) continue its bullish trajectory?
Bitcoin (BTC) saw a consistent price increase over the previous year. The asset surpassed the $57k level recently, last seen in 2021, over two years ago. BTC is currently up 10.3% in the weekly chart, 15.4% in the 14-day chart, and 35.7% over the previous month. Moreover, the asset has surged by over 144% since February 2023. BTC’s latest rally has rejuvenated investors’ hopes of a 2021-like bull run.
There is a possibility that Bitcoin (BTC) will continue its bullish trajectory over this year. The project will undergo this next halving cycle in April of this year. Many analysts anticipate a market rally following BTC’s halving.
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According to Changelly, Bitcoin (BTC) could hit $65,943 on Mar. 18, 2024, a rise of about 15.3% from current levels. Moreover, the platform predicts BTC will reach a maximum price of $83,522.65 in 2024, which would be a new all-time high for the asset. Reaching $83,522.65 from current levels would translate to a growth of about 46%.