Is It Right Time to Invest in Bitcoin?
Oct 24, 2017 Posted / 3145 Views
The market capitalisation of Bitcoin is worth more than $100 billion, this is what Shutterstock published recently. Thereby, making this first digital currency worth more than the top performing companies of the United States of America, like the investment bank Goldman Sachs Group Inc and the e-commerce giant eBay Inc. Additionally, this electronic currency, a few days back, reached the milestone of $6,000.
In the last couple of year, the thing that comes out of Bitcoin, since its launching in 2009 is, investing in Bitcoins is not superlative, since the market of cryptocurrency is steady. Anyone considering it should go for it a without a second thought.
Over the years, Bitcoin has done well to draw the interest of investors from around the globe, a wide range of business players. Many top cryptocurrency researchers suggest that there are an array of factors contributing to the recent surge in the value of Bitcoin, however, none of them is evident as the attention from both the print and digital media. Furthermore, the major milestone of surpassing $100 billion value will also fuel media attention and the motivate more investors to consider Bitcoin as a digital asset.
The CEO of cryptocurrency trading platform BitMEX, Arthur Hayes, described the above landmark as a very good validator, that Bitcoin is the future ahead in the global electronic market.
Political Instability is a Blessing for Bitcoin
Whenever there is a political unrest, typically, the stock market makes big dives-since its value is dependent on the government, financial institutions, big companies, and so on. Political unrest, on the other hand, has proven to be good for Bitcoin, which is not a government-backed electronic currency. This was evident during the recent instability in the Asian region, which prompted the value of Bitcoin dramatically. So, with political instability just about everywhere and traditional banks are getting weak in several parts of the world, you might find Bitcoin investment as a game-changing in your investment career, some years from now.
Unlike, stocks, investing in Bitcoin is easy-peasy, it doesn’t ask you to be a pro in finance, just a basic knowledge required to to make it big. To break down, investing in Bitcoin, simply means trusting the rise in the value of one unit of Bitcoin in the near future, or some years from now to make a healthy profit. Buying and selling Bitcoins is now easy, as today there are many online exchange platforms. However, before you initiate a transfer, it's best to check out the credibility your prospect platform via ratings and reviews from previous clients. At its core, Bitcoin transactions are not subjected to much government regulatory, thereby, Bitcoin investment is headache-free.
In comparison to credit cards and digital payment platforms, the exchange fees of Bitcoin is virtually nothing, usually 0.2% the value of the transaction. Whereas, the traditional banks in the United States of America, charge somewhere around 3% whenever you use your credit card to make the foreign exchange. So, in a nutshell, Bitcoin offers the most cost-effective way to invest.
Bitcoin data analyst, SG Kinsmann, recently published a chart, which illustrated how Bitcoin in the recent times has better and outpaced the ever-safe considered precious metals like the Gold and the Silves, they three and fourth respectively in the list of top performing currencies and digital assets. With, Gold and Silver weakening slightly against the US dollar, the Bitcoin stay strong.
The first half of the year 2017, has been great for Bitcoin’s evolution. To start with, Japan and Philippines, both the nations of great possibilities for digital currency legalised Bitcoin trade, and as a means of payment. Meanwhile, the government of India, led by Narendra Modi, working on a framework to seamlessly embed Bitcoin into the Indian economy. Bic Camera, one of popular Japanese, retail giant, with outlets in every nook and corner of Japan, has started Bitcoin as a way of payment at their malls. The heart of the matter in the recent times for Bitcoin is that it is doing well to gain mainstream credibility in several parts of the world, the investors globally are telling Bitcoin as the new gold. Bitcoin has a length of characteristics similar to gold- one is it is not controlled by the government.
At present, there are 21 million Bitcoins, and 80% of them are already in the market. As we know, Bitcoins are not printed or supplied by any government agency, it is created from the process of mining. And, the mining, with every passing year is reducing significantly with the lowering of reward, and by 2140, it is expected that the Bitcoin supply will be totally halted. So, with the scarcity in the coming years, Bitcoin value is bound to increase significantly.
Wrapping up, from the above reasons, it's fair to say, making a Bitcoin investment is a worthy decision.
Applancer is an open platform for discussion on all things like Blockchain , Cryptocurrency and Ico news updates. As such, the opinions expressed in this article are the author's own and do not necessarily reflect the view of Applancer .
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