Is it Too Late to Invest in Bitcoin?
It's easy to understand why people are reluctant to trust Bitcoin. It was created by an anonymous programmer, or group of programmers, under the name of Satoshi Nakamoto. They released it as open-source software in January 2009, announcing on the cryptography mailing list that they had developed "a new electronic cash system that's fully peer-to-peer, with no trusted third party." The whole concept behind blockchain and the popular cryptocurrency is simple - to change the world we live in.
Early Adopters Won
The Bitcoin market was a goldmine for cryptocurrency early adopters. Those who had the foresight to get involved from the start or quickly got on board during the first wave of Bitcoin price surges have been able to cash in on massive wealth. And this is not a surprise for anyone.
Bitcoin provided early adopters with an opportunity to become millionaires almost overnight. Bitcoin has been around since 2009, but it wasn't until 2013 that Bitcoin became a widely-adopted cryptocurrency, and by 2017 Bitcoin price nearly reached $20,000. Bitcoin's ability to increase so rapidly in value has seen many people gain significant profits. But is it that hard to invest in Bitcoin and end up winning today?
The Cryptocurrency Мarket is still on the rise
With its soaring popularity in 2017, the cryptocurrency market is hot right now. Altcoins, in particular, have been performing well, and investors can profit from their rises and dips. Although it's a relatively new market, rumors of governments starting to regulate it have been swirling. Many people are deciding to buy Bitcoin Cash.
Bitcoins has already spiked
In April 2021, Bitcoin had already spiked and reached over $64,000. Many believe that it won't be later in time that the cryptocurrency will reach its peak — and while some fear an eventual correlation to another economic bubble, others see the rise as a sign of the times: a sign of its growing adoption and popularity.
Is it too late to join the party
Bitcoin is a hot topic — and we're not just talking about its surprising bout of volatility. Bitcoin has many powerful stories behind it, but few people outside of cryptocurrency circles know about them.
It's true that about 90% of Bitcoins are already mined. Powerful ASICs were designed for this specific purpose, and if you're in a country where electricity costs are low enough, mining may be an option. But if you're not sure how to navigate the complex process of setting up your own Bitcoin mine or don't want to deal with the noise and heat that come with this type of hardware, think of other ways to get your hands on some coin.
HODLing Bitcoin is a great way to make money. If you purchase Bitcoin and then save it for later, or even invest it in another cryptocurrency, you should see a considerable gain in the future. However, it's not an easy task — as the price of bitcoin continues to rise, people are bound to become anxious and sell their assets for less than they might be worth. The bad news is it is a bit too late to join the party, especially if you cannot make a serious investment. We wouldn't recommend it for people who can allocate less than $10,000, as the waiting time will not be worth it.
Day trading Bitcoin can be difficult for beginners, especially because there are no timestamps on when the crypto will peak and reach lows. That's why it's important to follow news and trends closely. After a while, you'll learn how to wait for the right time; you could make some handsome money if you do.
There are many factors to have in mind when choosing an investment strategy, but there are three main styles. Day traders are interested in making quick movements to secure small profits every day. Swing traders are concerned with maintaining their investments for more extended periods of time. And lastly, people who want to invest for the long term are determined by the idea of deploying their capital into assets that they believe will generate returns over a longer time.
Bitcoin has been called a bubble for as long as it's existed — but that hasn't stopped it from growing into a trillion-dollar market. Bitcoin is a revolutionary new technology that has the potential to create positive change on a massive scale — and it's doing just that. Though Bitcoin has faced its share of criticism over the years, its core developers have worked hard to improve the ecosystem and keep innovating.