Bitcoin’s price has risen sharply in recent weeks, boosted by the imminent launch of the Bitcoin ETF. Its value has grown by 48% in the month of October, but what analysts are now asking is… how long will it continue to grow?
How to spot when it’s a good time to invest in bitcoin – or any other cryptocurrency – is something anyone would want to know, although it’s not easy to anticipate market trends. Fortunately, there are trading applications that allow you to make large or small investments, depending on your economic possibilities, without having to have experience in finance or technology.
For example, we have been testing in recent days BitIQ, an application with which you will not need great knowledge to be able to invest and that manages to make finance more understandable for everyone. With this app, developed through the market knowledge of the experts who have created it, using Artificial Intelligence, you will only have to make an initial deposit.
The app employs a bot, which with the funds that have been deposited, invests in Bitcoin for the user. What it does is monitor the state of the market and buys or sells when the time is right. So there is no need to worry about whether now is the best time to invest in Bitcoin or if the value of this will continue to grow in the coming weeks. The user of this application does not need to be aware, with a few minutes a day to manage your account, the bot and artificial intelligence algorithms BitIQ do all the work.
Will the price of Bitcoin continue to rise?
At the moment it is not possible to say for sure, although some point out that with the likely launches of new ETFs, it is possible that yes, the valuation of the most popular cryptocurrency of all will continue to rise.
There are experts who claim that bitcoin could become one of the most valuable assets in the world and could even exceed 144,000 euros before the end of the year. Others, such as Tom Lee, founder of Fundstrat Global Advisors, say it will be around 85,000 euros by the end of 2021. It is still quite a high amount.
Those who buy and sell Bitcoins have to be attentive to the evolution of the market. Getting it right with such a highly volatile asset is sometimes tricky and you have to use numerous charts and take into account all sorts of variables – such as government decisions – to try to get the timing right.
Some people recommend waiting and seeing what happens, while others – like Ivory Johnson, founder of Delancey Wealth Management – say it’s time to jump in before the cryptocurrency continues to rise further.
Be that as it may, the most advisable thing to do is prudence, devote to investment only an amount you can afford to lose and also look for the best allies to help in the investment process, as we have seen with the aforementioned app. Anyone can take advantage of the benefits of trading without having financial knowledge, it is only a matter of being well advised.
