3 reasons why it is not too late to invest in Bitcoin
2017 was a spectacular year for cryptocurrency which saw both a tremendous popularity and price rise. As a matter of fact, Bitcoin , the most known type of cryptocurrency reached its peak last December with a price exceeding 19000$ .
Various stories of ordinary people becoming millionaires thanks to their investment in cryptocurrency spread like fire. If you are familiar to the blockchain technology, then you are probably wondering whether it is too late to invest in Bitcoin. Well, here are 3 reasons why it is still possible to make great profits trading cryptocurrency:
1. Law of supply and demand
Like any other currency, Bitcoin’s trading price is determined through offer and demand .The less Bitcoins there are on the market, the more profit traders make selling them. However, there is a crucial information that people seem to ignore. The total number of Bitcoins is limited to 21 million unit. The mining power is rapidly increasing, therefore we are reaching this limit faster than expected. Once we get close to that cap, the limited offer will no longer match the rising demand and prices will soar.
2. Market fluctuations are perfectly normal
Many are dissuaded from investing in Bitcoins due to the fluctuations in trading. Cryptocurrency market has indeed witnessed some ups and downs during the last month, but that is very common. If we go back to December 2013, Bitcoin’s price surpassed the psychological barrier of 1000$ then the prices declined to 200$ during the same month. Fast forward December 2017, Bitcoin was sold for more than 19000$. The point here is that every financial market has its fluctuations, and I believe those who sold their cryptocurrency assets back in 2013 after prices fell regret immensely their decision.
3. Bitcoin trade is still in its early stages
It is not really late to start investing given the fact that Bitcoin was only released in 2009. During the last 9 years, it made huge success. Now imagine the profits that will be made in the next 10 or 20 years when more products, instruments and investment come to the market. This was similar to the early stages of investing in the Internet when some were being dissuaded from investing under the pretext of “being too late”. Today millions of dollars are flowing every day to this market. This proves that in the world of finance and business there is nothing as being too late. When you see an opportunity, you have to cease it because if you don’t, rest assured that others will.
In conclusion, Bitcoin , and cryptocurreny in general , is not disappearing from the financial market anytime soon . In fact, many analysts predict a prosperous future for blockchain technology. But before selling all your assets and decide to take part in this adventure, it is important to always keep in mind that with every investment comes a risk. A clever investor will know the right time to invest and especially the right amount he is willing to put aside.