Bitcoin BTC/USD is the largest cryptocurrency token in terms of market capitalization.
It has dominated the industry ever since its creation, and despite its recent dips, it has managed to kick back up in value as of recently.
Mainstream adoption as a catalyst for growth
There has been a push, now more than ever, towards making Bitcoin (BTC) an asset that can be used daily.
One such push is seen by the FTX.US cryptocurrency exchange, which has announced that they will be giving away Bitcoin as part of a Super Bowl advertisement.
The amount of Bitcoin (BTC) tokens given away has yet to be determined as it will be dependent on what time the ad runs on the East Coast.
Additionally, there’s Didi Taihuttu of the so-called “Bitcoin Family,” who moved to Portugal due to the fact that it has a 0% tax on cryptocurrencies.
Furthermore, we also covered on February 4 how Paxful rolled out a Bitcoin education center in El Salvador.
These are just two examples of real people being impacted by Bitcoin (BTC) and how the token is utilized in more mainstream ways.
Should you buy Bitcoin (BTC)?
On February 8, 2022, Bitcoin (BTC) had a value of $43,615.93.
To truly see what this value point means for the Bitcoin (BTC) cryptocurrency token, we will be going over it’s all-time high value as well as its performance throughout the previous month.
When we go over the all-time high value, Bitcoin (BTC) was worth $69,044.77 on November 10, 2021.
This means that the token was higher in value by $25,428.84 at its ATH point, or by 58%.
Taking last month’s performance into consideration, Bitcoin (BTC) had its highest point of value on January 2, 2022, when it had a value of $47,730.23.
Its lowest value point, however, was on January 24, 2022, when it decreased in value to $33,495.91.
This gives us an indication that from the span of January 2 to January 24, BTC decreased in value by $14,234.32.
However, from the span of January 24 to February 8, BTC increased in value by $10,120.02 or by 30%.
With this in mind, BTC can reach $47,000 by the end of March 2022, making it a solid buy.
The post BTC price movement: how will the heightened adoption of BTC shape its value? appeared first on Invezz.
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