Bitcoin price today is trading at around $35,000, but given how volatile the asset is and its propensity to go on parabolic runs, Bitcoin price tomorrow could double from here or correct by 80%.
Bitcoin started off its life virtually worthless, with a value of far less than a penny when the Bitcoin Core client code was released into the wild. Years later, it began trading at over $1,000 and started to be considered as a serious financial asset with long term potential.
In 2017, Bitcoin potential took the world by storm, as many became rich beyond their wildest dreams once Bitcoin reached its now former all-time high of $20,000 per BTC coin. Mainstream media ran BTC news story after story, causing retail investors to rush into buying the asset.
But once 2018 hit, a major Bitcoin trend change occurred, and the price started going down. Due to how volatile Bitcoin is, market price retraced as much as 80% down to $3,000 where it eventually bottomed, leaving many wondering “will Bitcoin go up in value ever again?” Others knew Bitcoin will rise again, and opened long positions at the bear market bottom.
At the start of 2019, Bitcoin growth returned once again, and a powerful rally took Bitcoin price back out of the bear market lows, and above $10,000 to $14,000 before falling back down to $6,500.
In 2020, the Black Thursday crash took Bitcoin to under $4,000. But the stimulus efforts put forward by the US and other nations to combat the pandemic, inflated the money supply significantly putting Bitcoin in the financial spotlight.
The cryptocurrency went into another uptrend in 2021 and set a new all-time high at $60,000. With no real resistance above the cryptocurrency is back in price discovery mode and sky is the limit.
