5 Reasons Why You Should Invest In Bitcoin
Digital currencies have recently taken the world by a huge storm. It is a sudden change that is only focusing on the advantages of decentralization. Once you have understood how the technology behind the digital currency is working, you can then invest and lead people in believing that the future in finance is in bitcoins.
Bitcoin is rated as an asset that leaves no one indifferent. This means that any person has an opinion on bitcoin be it a politician or the public. The politicians view bitcoin as a danger since it challenges the system that gives people the power to create money at full capacity. However, make sure you consider these things before investing in bitcoin.
1. You can use it to buy goods and services.
Recently, the bitcoin’s price has risen from less than $ 2000 from the past six months to $ 16,000 today. However, a lot of people have made more than a billion from their involvement in bitcoins. Their success story comprises people who have invested money from four-figure to five-figure sums.
These people are using such opportunities to venture into other businesses and get themselves a side hustle that will set them for life.
2. Avoid missing the next big thing.
As at december last year, bitcoin is around $7,500. At the beginning of the year 2019, it had started at $3,200 after a long bear cycle. During 2017, this is when it was at its peak when its price was at $20,000. The current bitcoin’s price remains attractive whereas the next halving was done in may 2020.
Halving simply is decreasing the reward that is given to the minors of bitcoin. Since the halving occured in may 2020, the price of bitcoin was reduced by half from 12.5 to 6.25 BTC. The miners' costs were doubled whereas the creation of new bitcoins reduced. In contrast, the price of bitcoin will increase by the end of year 2020.
3. Take advantage of the high volatility of the bitcoin market.
The idea of investing in bitcoin might not be much to you. However, being at the heart of the next major thing which is likely to give an option to the current monetary system will definitely tempt you to be involved. Such a case will get you interested since it can bring you a profit opportunity that can change your life.
In 2019, bitcoin was the highest performing asset. This is likely to continue in 2020 since the market is a little bit young and very volatile. An opportunity to make a lot of profit from it is present provided you employ a strategy that a lot of HOLDERS do.
4. Diversify your investments
Since the market is young and very volatile, investing in it will only help you benefit from it. Such volatility will increase your profit opportunities. Once you have already invested in life insurance, startups or even rental properties, it is essential for you to start investing in bitcoins. Cryptocurrency industry could have a bright future and that is why you need to give it a chance and invest in it.
Diversifying your investments with bitcoins is a less risky investment that any investor will want to have a look at.
5. Free yourself from the power of the countries.
Countries and their bankers have the privilege of creating monetary policies. Following the previous financial and economic crisis, it is evident that a lot of countries are still using the privilege. As a result, the world is about to face an economic crisis in 2020. This will lead to countries lacking a monetary tool at their disposal.
Such crises have made a lot of people lose their trust in the current monetary system which have also led to people not trusting bitcoins investments. However, bitcoins provide a new monetary system that will give back power to its people and hence bring back full confidence in a better system.
No one really knows what the future in bitcoins really holds. However, if a single individual assures you otherwise, then they are lying to you. On the other hand, you can be certain of some things such as missing the bitcoin revolution is similar to missing the facebook and google revolution. Secondly, if bitcoin reaches its full potential and becomes a potential alternative people who invested in it will see their standard of living increase.
Lastly, make sure you buy bitcoins with an amount of money that you are willing to lose.