In recent years, Bitcoin has been the talk of town for its seemingly unstoppable growth, resulting in people asking: “when will Bitcoin rocket to the moon?” This is a difficult question to answer with certainty, yet understanding the factors influencing its value could provide some clarity. Foremost is market demand, which is bolstered by institutional investors like Tesla and MicroStrategy who have placed large amounts in Bitcoin. Macroeconomic signs, like its correlation to the safe-haven aspect of gold in relation to inflation and economic unstability, also play a part. Thirdly, strict regulatory demands sending cryptocurrency into varies degrees of acceptance must be monitored. Analysis reveals a large surge in early 2021 rocketing Bitcoin to a peak of $65,000. Thereafter, market correction has seen an accelerated stabilizing period of between $30,000 to $40,000, which many consider a prelude to a potential breakout. Primary experts hypothesize that taking these factors into consideration, Bitcoin could soon embark its true journey to the moon.
