Bitcoin has suffered a lot in 2017.
Its price dropped from an all-time high of $19,783.06 on December 17, 2017 down to just $3,747on January 1, 2019. That’s an 81% drop in a span of 12 months. Bitcoin’s value during that period suffered a lot because of numerous hacks and thefts experienced by several established cryptocurrency exchanges around the world. Fortunately, Bitcoin’s value has risen over the last couple of months and is now on an uptrend. Bitcoin’s price today is hovering above the $10,000 mark.
It is believed that after the crash of Bitcoin’s price in 2017, the market needed to be stabilized and must be corrected so it can experience a rise again. Some say that Bitcoin is due for a rise these coming months because of the sentimental attachment of investors who lost a lot and those who are still holding on to their Bitcoins. On the other hand, others predict that Bitcoin’s value will continue to crash. Despite these opposing views, if you’re still interested in investing in Bitcoin, you can visit bitcoin-revolution.io for more information. For now, let’s try to figure out whether Bitcoin is still considered to be a good future investment.
The Future of Bitcoin
It’s not a secret at all that cryptocurrencies, especially Bitcoin, are so volatile. Their value tends to fluctuate over and over again, but there is also overwhelming evidence that cryptocurrencies are here to stay. Even though Bitcoin is relatively new and unregulated as a digital currency, it is still very popular because of the fact that no central authority, government, bank, financial institution or country has control over it. Most people have a growing distrust of traditional banks, which cause them to turn to digital currencies instead. That said, Bitcoin will most likely stick around because of the popularity it is enjoying today, even though more and more cryptocurrencies are coming out.
It’s also worth noting, however, that as Bitcoin continues to be strongly popular, regulations that surround this digital currency will also become stronger. In fact, multiple countries such as Brazil, China, Russia, and Venezuela have declared that they are going to develop their own cryptocurrency in the future. So if you think that investing in Bitcoin is no longer a good future investment, you are mistaken. Check out the following reasons why Bitcoins are still a very good investment in the long run:
- High Adoption Rate
Out of the 1,600 cryptocurrencies on the market, Bitcoin is one that has been able to prove itself and has established good credibility over the years. This is also the reason why everyone is starting to adopt Bitcoin more and more. Even the biggest companies of the world like Amazon and Apple are already adopting cryptocurrencies, especially the blockchain technology that was introduced alongside Bitcoin in Satoshi Nakamoto’s whitepaper. Countries such as Argentina, Colombia, and Venezuela also showed an increase in the number of Bitcoin trading over the last couple of months. Bitcoin trading volumes around the world are likely to see a significant increase over the next couple of years since countless people are beginning to adopt Bitcoins.
- Cryptocurrency Bull Run
The cryptocurrency bull run is what is called as “invest now and double your investment later on.” As of now, we are currently riding this bull run, making this the perfect time to invest in Bitcoin. Whether you’re a beginner or daily trader, investing in Bitcoin today is one of the best investments you can make. Bitcoin promises big returns on investment (ROI) in the future, and the best thing about it is that you don’t even have to make a very large investment. While a lot of people are questioning the future of Bitcoin and whether it’s still good to invest in it after the crash of 2017, what they often fail to realize is that after the crash, Bitcoin has started to recover. As mentioned, it is going through an uptrend that will likely continue for the next couple of years.
- The Demand for Bitcoin is High
Since Bitcoin is the most popular of all the cryptocurrencies on the market right now, it is also because of this popularity that the demand for Bitcoin is very high. However, even with a high demand, Bitcoin is considered to be scarce. At the time it was introduced, there are only 21 million Bitcoins available. Out of that number, 17 million have already been mined. There are now only 4 million Bitcoins left, but it is expected that more and more Bitcoins will be available soon. This is why it is recommended that you invest in Bitcoin now. As the demand increases, so will its value. This will give you a fair amount of ROI in the next couple of years.
Bitcoin is starting an epic financial revolution that invites everyone to get rich and earn a fair amount of ROI in the years to come. Bitcoin won’t only help make you wealthy, but it can also open up for you more revenue streams. However, you have to know that Bitcoin is not the only cryptocurrency out there. In case you haven’t noticed, when Bitcoin’s value surges, other cryptocurrencies are also likely to follow. That said, it is a good idea to invest in other cryptocurrencies as well since they can provide you with good revenue in the future.
When it comes to Bitcoins, the question shouldn’t solely revolve around whether or not you should invest in it. You should also make it a point to know how you can accomplish this endeavor. The best thing you can do to succeed in investing in Bitcoin is to educate yourself about Bitcoins and cryptocurrencies as a whole. If you feel like you’ve already acquired the necessary knowledge, you can then come up with your own answer. When you start investing in Bitcoin, just start small as you continue to learn more about it. Moreover, never invest anything that you can’t afford to lose so you won’t have any regrets later on.
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