With so much going on in the crypto market, it is easy to overlook some of the high potential players. Bitcoin has already blown up and is currently valued at over $10,000 per 1 Bitcoin. This is already a lot of money! When it first came about, people mined the coin and sold it for reasonable ‘good’ prices at that time. But the currency went on to grow and made those who owned it, millionaires.
Nowadays, the crypto market is bustling, and the hype is not precisely over Bitcoin. With the likes of trusted sites such as coinmarketcap.com recognizing and elevating coin rivals, Ripple and Ethereum, most people are now more skeptical to join the Bitcoin movement. They have a good reason, no one can blame them.
So, why then go ahead with Bitcoin
Invented and first mined in 2009, this blowout cryptocurrency only had 21 million coins. The closer to that number, the higher it becomes to extract the coin and the more valuable it becomes. Now logic might have you wondering whether or not this is an excellent time to jump into an already moving wagon? Here are a few things to consider. Before the 21st century, the rich and famous were known for their possession of precious stones and metals such as gold and diamonds. The factor that made those precious stones valuable, desirable and a measure of wealth is the fact that they are hard to come across, they must be mined. You understand this right? Excellent! That is the same concept with Bitcoin. The fact that there is only a limited value and it will reach that number soon makes it a ticking money mine.
Searching for the answer regarding buying Bitcoin will leave you with a lot of headaches and even more confusion. Instead of wondering should I buy Bitcoin, ask yourself this, is Bitcoin the right cryptocurrency for my projected financial conquests?
Bitcoin is a form of Investment
The significant difference between Bitcoin and gambling is that this is a sure thing. When it comes to Bitcoin, there is no speculation. All you have to do is study the trends (charts), and they will indicate the coin’s next move and thus determine your next step. One thing about the investment that most people fail to acknowledge is that putting all eggs in one basket is a recipe for failure. Yes, you should consider, and if your funds permit, actually buy Bitcoin. But, don’t make the age-old mistake of only investing in Bitcoin.
The main advantage that cryptocurrency has over mining for precious stones is that there is information, there are charts and articles available online. All you have to do is research. Scour the internet, and you will surely find information concerning your currency before making an investment.
Based on what interacts best with your financial projections and stronghold, consider buying Bitcoin and something else. For example, you can invest in another cryptocurrency and then go on to put more money into real estate, livestock, and bonds. The bottom line is that no one can tell you whether or not to invest in Bitcoin. But if you are serious about it, you can study the market, check the trends, and make an informed decision.
