From Nasdaq, Inc.: 2024-04-18 13:45:02

Bitcoin prices have surpassed $63,000 as of April 18, 2024, with Kaiko Research noting a daily creation of around 1,500 “millionaire wallets” due to the recent rally. During the last bull run, over 4,000 digital wallets reached millionaire status daily. The current outlook is optimistic, with forecasts suggesting an upside ranging between 525% and 5,800% from the current price.

Two catalysts that could push Bitcoin higher are the recent approval of spot Bitcoin ETFs and the halving of Bitcoin mining rewards. Spot Bitcoin ETFs allow investors to consolidate accounts and eliminate high transaction fees. Bitcoin mining rewards will be cut by 50% in April, controlling the supply of the digital coin.

Cryptocurrencies, including Bitcoin, are still highly volatile, and while optimistic forecasts exist, there is no guarantee that prices will continue to rise. Billionaire investor Warren Buffet has expressed skepticism toward Bitcoin, calling it “rat poison.” However, Bitcoin has outperformed nearly every asset class over the past five years, and the above catalysts could influence future price movement.

To invest in Bitcoin, investors can purchase it through a stock broker or join an exchange with a crypto wallet. Hot wallets are convenient but less secure, while cold wallets are recommended for significant investments. Connecting the wallet or exchange account to a bank account is optional. Once set up, investors are ready to proceed with their investment.

Read more at Nasdaq: Bitcoin’s Surge Produces 1,500 New ‘Millionaire Wallets’ Every Day — How You Can Invest