Despite most cryptocurrencies being on a decline and Bitcoin failing to breach its 30K resistance price, experts believe that buying Bitcoin now could be a lucrative investment. Bitcoin is the biggest crypto by market cap and even the very first iteration of a cryptocurrency. Some investors think that it is too late to cash big on Bitcoin as it is “too late”. But is it really? And if not, how many Bitcoins should you buy to become a millionaire in the future?
Bitcoin Performance in 2023
In 2023, Bitcoin is currently up despite the current downtrend. The world’s largest cryptocurrency started the year with a price of 17K and is currently trading around 27K, showing that 2023 may be a recovery year. However, the price of Bitcoin is notoriously volatile and can fluctuate wildly in a short period of time.
What is the Bitcoin Halving
The Bitcoin halving is an event that occurs approximately every four years and reduces the number of bitcoins that are generated through mining by half. The most recent Bitcoin halving occurred in 2020, and many investors and traders believe that it could cause the price to surge. A halving is a significant event that can impact the cryptocurrency market.
When will Future Bitcoin Halvings happen?
Bitcoin halvings are expected to occur in 2025, 2029, and 2033. While the exact dates are not set in stone, halvings are significant events that can impact the cryptocurrency market. It’s important to remember that halvings are not the only factor that influences Bitcoin’s price.
How many Bitcoins should you Buy to become a Millionaire in 10 years?
Assuming that the years 2025 and 2029 will be highly bullish years, the year 2033 is expected to be a high top for Bitcoin, with prices ranging anywhere from 10 million to 100 million USD per Bitcoin. So, in theory, it is enough to buy 0.01 BTC today to achieve this goal in the next 10 years until the 3rd top in the year 2033.
Buying 0.01 BTC today costs 270$. Anyone can do it, and there is no excuse for not buying this amount at today’s prices even if some consider it “too late” to buy into Bitcoin.