Why its Still not too late to sit in cryptocurrency train?
Hi all.Many of my class fellows and all people ask this question that if its too late to get into crypto trading.The answer is No.Its never too late here.This is just the beginning of new Era.More and more people are getting into bitcoin and altcoin trading and bitcoin is surely more safe store of value than gold.
Note:My father is a Jeweler.
Value of bitcoin
The price of bitcoin is just rising and always rising .It just does not know how to fall that is because of more people getting into it and choosing it as a store of value.It gives you more profit than most of businesses.Now we come to the main point the Altcoins trading.
Altcoins value movement along with Bitcoin
What i am going to tell you is a simple thing but most people don't understand it.
Most of coins are traded with bitcoin/altcoin pair ok.When the value of bitcoin rises the satoshi value of altcoin also yields more profit than it was before because bitcoin has new more price but satoshis remain same.
So if you trade any good altcoin and store its value will surely rise as bitcoin rises.Than means you never missed the crypto train that you thought was way ahead of you.
The market cap of all the cryptocurrencies was down to 66 billion usd on 17 July 2017 and now its proudly 124.35 Billion usd roughly twice as of today.
Things to keep in mind
- Bitcoin is the future of payment.
- Its never too late to start trading cryptos.
- You can start with little amount.
- Those who are in the crypto trading are blessed
- Nothing will Happen to you if you upvote and resteem this informative post.
Hope you like my blog.
Late to the train is better than missing the train . . .
I am going to suggest another couple of reasons to invest in cryptocurrencies. Altcoins are in the wild west phase of investment. At this stage the mechanisms that are in place in the stock market do not exist on the exchanges. In essence you have simple transactions of buy and sell. Of course some coins are pre-mined but people can factor this into their buying decisions.
On the other hand, in the regular stock market there are preferred traders who are able to purchase shares at a lower price before stocks are released on the market. When the stock is released on the market, these preferred traders have already made a profit.
In addition, there are no governments actively trading in cryptocurrencies (that I know of) yet. Occasionally a whale appears in the markets but not like a government which can out-compete everyone to influence the rise or fall of a specific commodity. The paper price of gold for instance has been suppressed by government interference. An article in Forbes (July 7, 2013) by Todd Ganos states:
According to a report released by the Federal Reserve
last week, the M2 money supply is about $10.5 trillion. The amount of gold held by the United States government is approximately 260 million ounces. Doing the math, that translates to north of $40,000 per ounce. This is too difficult to even comprehend. But, whatever the real number might be, it seems that it is above the current $1200 area that gold in currently trading.
The paper value of gold is manipulated by future contracts at the London Exchange.