Investors Rejoices as Bitcoin Hits Above $70k

2024 is becoming a happy year for investors in cryptocurrency as many digital coins have recorded an increase following the rise of Bitcoin.

Bitcoin is the most popular digital coin in cryptocurrency and many millionaires have surfaced in the past and present following their speculative acceptance to invest in it and others.

As of Monday 11th March 2024, bitcoin trades at the rate of $71k (seventeen one thousand dollars) making it the market to be an all-time rise so far.

Many investors seem to be holding their assets instead of selling and it has increased the confidence in the market on the possible continuous increase in the BTC rate. Some speculators are also anticipating that Bitcoin will hit above one hundred thousand dollars during the bull run. It is not yet clear if such a dream of seeing BTC hit $100k will happen anytime soon but the market can’t be predicted, and anything can happen.

The increase in BTC has also given an advantage to other coins which have continued to rise above their existing market capitalization in the past. Some analysts posited that the bull run is still very much in place and the best performance of the crypto market is yet to happen.

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The next in line big coin is Ethereum popularly known as ‘ETH’ which as at 11th March 2024 is trading above three thousand dollars and closer to four thousand dollars.  Other coins are showing positive increases like BNB while some are also showing a negative performance.

Certain lovers of the crypto market are also buying altcoins to make more wealth after missing the early rise of bitcoin, but some speculators postulated that it is not yet a wrong time to get into bitcoin as the best of the coin performance still lies in the future.

Cryptocurrency is yet to be adopted by any government in the world as an official legal tender but some people see it as the future of money in digital form. Some countries have also invented their digital currency or E- currency of their hard or paper currency but none can boast of the entire success of the move. Nigeria in 2022 launched e-naira but the majority of the elites or young people are yet to start using the digital equivalent of the naira as expected by the launchers of the E-naira during the leadership of the former Governo of the Nigeria apex bank Godwin Emefiele and the former president of Nigeria Muhammad Buhari.

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Many billionaires rated in Forbes and Bloomberg billionaire index lists are yet to invest directly in cryptocurrency as they see it as a Ponzi or fraudulent means of acquiring wealth. 93-year-old Warren Buffet has yet to openly declare investing in cryptocurrency while the author of  Rich Dad Poor Dad Robert Kiyosaki tells his followers to buy bitcoin, gold, silver, and others.

Robert Kiyosaki seemed to be a fan of cryptocurrencies, especially bitcoin as he alleges that the government prints fake money and floods the market with printed paper money. The fast rise of Bitcoin in 2024 makes his followers and listeners say that his advice on buying Bitcoin may not be entirely wrong but only time will tell.

Bitcoin is on a serious rise in 2024 and drawing the eyes of many speculators.

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