Bitcoin, the leading cryptocurrency, is currently in a new era of rising prices and consequently, investors everywhere are trying to grasp the potential of the cryptocurrency. According to Gareth Soloway, President & CFO of InTheMoneyStocks.com, investor sentiment is relatively bullish but this may depend on Bitcoin's overall performance in the long run. For the market to fully understand Bitcoin's potential, the digital coin needs to remain above the psychological threshold of $30,000.

If Bitcoin manages to hold stable at this level, the market may then anticipate a rise in prices to anywhere up to $40,000. However, Soloway suggests that BTC can drop as low as $12,000 in a bear market. This suggests that speculation should be taken carefully and only those with accurate data should be able to benefit from Bitcoin's potential.

In terms of Elon Musk's latest efforts in propelling the DOGE cryptocurrency, Soloway believes that the tech mogul loves to engage with small and retail investors. While DOGE has made considerable gains since the logo update, the crypto expert states that a substantial relevance is required in order for profits to be achieved.

Ultimately, Bitcoin investors need to stay cautious when considering the future of the crypto. While prices may be currently ascending, there is no telling how the markets will react to any of the new stimulation. Long-term market awareness is essential in understanding the potential of Bitcoin.



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