The world’s largest cryptocurrency, Bitcoin (BTC), has been struggling to maintain itself above the $100,000 mark. The asset has once again dipped below this coveted price level, but this comes after the entire cryptocurrency market took a major hit. While the community navigates itself during the current slump, some are running to purchase the dip. Will an investment made right now translate to a major spike in the coming years?
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Looking Into Bitcoin’s Latest Plunge
The entire market was painted red. The overall market cap of the industry plummeted by 4% throughout the day. At press time, the king was trading at $97,194.07 following a 1.27% dip over the past 24 hours. This further pushed the asset 6.21% below its all-time high of $103,900. Bitcoin surged to this peak about five days ago.
The king coin had a market value of $1.92 trillion and a 24-hour trading volume of $111 billion. Bitcoin’s daily high stood at $100,358. With a 55.71% market share, Bitcoin continued to dominate the ecosystem.
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How Much Can Investors Gain?
Bitcoin is expected to record a major surge over the next couple of years. The price of the king coin has already managed to reach $100,000. The community expects to see BTC move beyond this price level.
Data from CoinCodex reveals that the price of Bitcoin may eventually rise to $287,841 in January 2030. However, it should be noted that Bitcoin may drop as low as $162,955 in October. The price of Bitcoin is expected to average $228,591 throughout the year, which is around 135.48% more than its present value of $97,073.
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CoinCodex’s calculations reveal that if an investor poured in $1,000.00 in Bitcoin now and owned it until January 17, 2030, it could potentially turn into $1,945.02, which would represent a 194.50% return on investment over the following 1863 days.