The value of BTC increased by 4% in the last 24 hours.
The token is likely to increase in value over the coming months.
BTC has the potential to go back up to $40,000.
Bitcoin (BTC) is by far one of the largest cryptocurrencies in terms of market capitalization and is a token that is starting to recover much of its value recently.
Its value and growth can affect the value of the entire cryptocurrency market as it has the highest level of dominance in the entire cryptocurrency world.
Analyst Predictions as a Catalyst for BTC Token Growth
Bitcoin, like other cryptocurrencies, saw wild swings over the past week, with the price of BTC falling sharply before suddenly recovering.
However, many crypto players and experts claim that the recession marks a good buying opportunity for the token, and its recent rise in value also indicates a strong opportunity.
From January 28 to January 29, the Bitcoin (BTC) token saw a 4% increase in value.
There are predictions from 33 fintech experts that Bitcoin’s anticipated high normal value in 2022 is $76,360, according to a survey by data analytics websites.
Additionally, Bitcoin tweeted that in 2021, the network processed $3.0 trillion in payments, placing it above well-known card networks like American Express, which processed $1.3 trillion, and Discover, which processed $0.5 trillion.
However, it is still under Visa, which processed $13.5 billion, and MasterCard, which processed $7.7 billion.
In any case, this growth indicates bullish results for the BTC token in the near future, which may contribute to its growth in value in the future.
Should You Buy Bitcoin (BTC)?
On January 29, 2022, Bitcoin (BTC) was worth $38,080.55.
To get a better perspective on what exactly this value point means for the BTC token, we will review the token’s all-time high value along with the performance it showed over the previous month.
The all-time high value of Bitcoin (BTC) was on November 10, 2021, when the token reached a value of $69,044.77. This means that at its ATH, BTC was worth $30,964.22 higher or 81%.
When we review the performance in December, Bitcoin (BTC) saw a value of $58,667.85 on December 1, with its lowest point reaching $45,697.92 on December 18. This indicates a decrease in value of $12,969.93 or 22% since the December period. to December 18.
However, from December 18 to January 29, Bitcoin (BTC) saw a further decline in value of $7,617.37 or 16%.
With all of that in mind, at $38,080.55, buying Bitcoin is a solid idea due to the fact that BTC has the potential to hit $40,000 again by the end of February 2022.