IS BITCOIN INVESTMENT STILL PROFITABLE?
Many people missed out in investing in Bitcoins in 2009 when 1 btc was roughly equivalent to $1. Around October 2013 it was $133 , in 2016 it progressed from $300 to $2000 plus. Today 1 bitcoin is FREAKING $4200. We all in the Cryptoworld have surely heard of the Norwegian man who bought $27 worth of btc and forgot about it only to discover years later that the value had sky rocketed. Many people are asking is bitcoin still a good investment now that 1 Bitcoin is worth 4k plus or should we turn to other altcoins for long term investsment ??????????
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The Hard fork has come and gone, and it seems that it only made Bitcoin more valuable. The fact is Bitcoin has a limited supply. There are only 21 million Bitcoin available of which a little more than half have been mined. This means that, as Bitcoin become more and more scarce, their value should increase as long as demand remains the same or increases also, and has you can see demand will always be on the rise because right now the global economy is transitioning quickly to an era of digital currency.
Bitcoin is now getting government recognition across the globe. Japan recently deemed Bitcoin a legal form of payment, driving the currency’s value to further heights, and making Japan the largest country in the Bitcoin industry. It’s rumoured that Russia is the next country considering recognising Bitcoin – investors predict Bitcoin rates will still further spike if this happens.
Bitcoin may be the first of the cryptocurrencies, and it may currently be the largest, but it is not the only one. Other digital currencies may learn from Bitcoin, write better codes, and take over the cryptocurrency market. Current competitors include Ethereum, a cryptocurrency that has also skyrocketed in value in the last year and now sits at a value of around $300.Dont forget our dear Steem coin, with more people buying, it will definitely rise in value. Right now 1 Steem is worth $1.13702392. with 239 million coins in circulation.
The future may be in cryptocurrencies, but not necessarily in Bitcoin – only time will tell but right now time is telling us that Bitcoin is still a good deal…who knows it might just hit $10k
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Nice piece! I feel your skepticism about Bitcoin though. You might be surprised by it.
Surprised in a negative or positive way?
You made a very convincing argument for your cause. Nice article 👌 Bitcoin is still King.
Thanks bro
Yes bit coin is still a good investment, however you Can get more profit from other lower altcoin that have good potential
Thats very true...stated it too in my Article
yes sir
I watched Etherium move from $10 and I regret it today. Right now I have a similar feeling about neo. Trust me I am so going hard on it!
Wow thanks for the heads up
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STOPSolid article. Same thoughts here. The coin market will be turbulent for the upcoming year(s) but I really believe in the blockchain as a technology. I was researching a way to do better investment analysis on the current cryptos. I found this great website: https://www.coincheckup.com This site is really helpful in my coin research. I don't know any other sites with so much indepth analysis. Check for example: https://www.coincheckup.com/coins/Bitcoin#analysis To see the: Bitcoin Research report.
Well your prediction turned more than true!