The top cryptocurrency in the world, Bitcoin, is back to its former glory and has risen through the ashes of when it was previously burned and fell to its lowest value last year. The coin is now playing at around $30,000 and this was a significant success in its rally, coming from significant challenges in getting out of its dangerous situation.
Now that it is back on its rise, people are looking to join the bandwagon and ride on its fame, but is this the right time to do so?
Bitcoin is Rising and Recently Achieved $30,000
Bitcoin recently achieved a $30,000 valuation at the start of the week, and this has been the cause of celebration for many who HODL-ed on to their top coin holdings or those who bought it at a lower price. The public's belief and trust in the top cryptocurrency paid off, as many helped in rallying its prices to what it once was.
The $30,000 valuation of BTC is not new to the industry, as it was its previous regular price which both went up and down in recent times.
According to CoinMarketCap's report, the first quarter of 2023 saw Bitcoin rise as much as 70 percent since January, and this became a significant advancement over a long drought it experienced.
Should You Invest in Bitcoin Now?
However, this is not the time to act hastily and without evaluating its overall condition in the market with extensive research and predictions from experts.
As we have discussed earlier, Bitcoin saw its arrival to the $30,000 mark on April 17, but that was only until April 19, as today, April 20, saw it drop back to $28,000.
Keep in mind that cryptocurrencies, even top and established coins like BTC, are volatile and prone to unprecedented events that may grow or crash the coins.
Bitcoin and its Struggles
Back in 2021, cryptocurrency is at an all-time high, with the top cryptocurrency of all time, Bitcoin, seeing a $63,000 record-breaking valuation on its operation. This was also the time when miners have more freedom compared to now, where they had the chance to earn the top coin through their systems without significant risk in investing their money.
However, a year later, it dropped to a $20,00 valuation and even below this number, as the crypto saw a significant decline in people trading the coin, especially with the massive international conflicts that took place in 2022. Bitcoin crashed and people who were once high earners from the coin, lost all of their investments as it ate them away.
With the crypto industry's volatility in the present environment, people would still need to be vigilant despite the steady increase in BTC's valuation in the past weeks. Bitcoin indeed earned a lot from its state early this January, with as much as a 70 percent increase, but a lot can change in a day, even hours despite its significant climb now.
Cryptocurrency remains a risk for all, with a higher percentage of losing one's investment instead of growing it, even among experienced crypto experts.
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