Bitcoin is notorious in the public consciousness and within investing circles for being a particularly volatile currency. However, as wildly variant peaks and troughs have been reported since its inception at the beginning of the decade, it has managed to withstand a lot. Currently, Bitcoin is showing signs of recovering after some tough weeks and months, and it may be worth preparing for another Bitcoin boom in the very near future.
What is Bitcoin worth right now?
Bitcoin seems to be doing relatively well at the beginning of this month. It seems to be going up to at least $10,000 right now. When it hits $20,000 thats when things are likely to take off and Bitcoin will dominate the news cycle all over again. When this happens, many more people will be interested in investing their time and money in Bitcoin.
How well is Bitcoin doing compared to other cryptocurrencies?
Bitcoins share of the market currently stands at 42%, which is a very strong number. Indeed, the cryptocurrency has managed to retain dominance despite competitors offering more functions and innovation, proving that people have confidence in the Bitcoin name. Currently, Bitcoin is experiencing its highest market share since December, demonstrating the early signs that people are reacting to its regaining strength.
How can we prove that Bitcoin is improving?
Like all forecasts, any predictions made are merely speculative. However, there are signs to give potential Bitcoin investors lots of hope. Firstly, its exponential moving average, or EMA, is stronger than it has been for two months. Secondly, it is showing a supertrend (a fairly reliable signal) that suggests people should be buying in to Bitcoin. Again, this has not happened for around two months.
Overall, things are looking up for Bitcoin, and it may be worth your while keeping an eye on it before lucrative investment opportunities are missed.
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