BTC trading volume has seen a 15% increase in the past 24 hours.
BTC has the potential to rebound in value soon.
At its current price, the token is a worthwhile buy, and we’ll explain why.
Bitcoin is by far one of the largest cryptocurrency tokens in terms of market capitalization.
Despite the fact that the token has seen its value decline, it remains a dominant force within the industry and is being bought by many investors.
MicroStrategy Plans to Buy BTC and Vladimir Putin Support as Growth Catalyst
MicroStrategy CFO Phong Le said the company will continue to buy the BTC cryptocurrency token despite recent downturns, according to a Wall Street Journal report.
According to a Wall Street Journal publication , Phong Le said that it is not clear if the company will buy more Bitcoin than last year, but it will continue to do so.
On September 13, 2021, MicroStrategy made the news by buying 5,050 Bitcoin tokens (BTC) for $242.9 million.
With that in mind, as of December 29, 2021, the company held 124,391 Bitcoin (BTC) tokens, according to its filings with the Securities and Exchange Commission.
This news and commitment to MicroStrategy’s token shows confidence in the token’s rising value and as such may make it an attractive option for cryptocurrency investors.
During a videoconference on January 26 , Vladimir Putin, the President of Russia, made the case for Bitcoin mining, where he cited the competitive advantages it brings to the country and opposed the ban on crypto mining that was proposed by Central Punk, following pressure from Russia’s Federal Security Service.
As such, Bitcoin (BTC) has the potential to increase in value throughout the next month.
Should you buy Bitcoin (BTC)?
On January 27, 2022, Bitcoin (BTC) had a value of $36,371.53.
To see what this value point means for the BTC token, we will review its all-time high as well as its performance throughout the previous month.
The peak value of Bitcoin (BTC) was on November 10, 2021, when the token reached a value of $69,044.77. At its ATH, the token was $32,673.24 or 90% higher in value.
In terms of the token’s performance throughout the previous month, on December 1, 2021, the token reached its highest point of value at $58,667.85.
Its lowest value point was on December 18, when the token declined to $45,697.92. This marked a decrease of $12,969.93 or 22%.
With that in mind, Bitcoin (BTC) at $36,371.53 is a solid buy as it is the leading cryptocurrency token that has the potential to rally as high as $40,000 by the end of February 2022.