Investing in Cryptocurrency; Too Late or Last Train Choosing?
With the continued spread, demand, and implementation of digital assets in day-to-day dealings, this is the time to board the crypto train.
The first digital currency; Bitcoin, traded around a few cents to a dollar per coin in 2010 and was first mined about a year prior to that time. In just about a decade, it reached an all-time high price of about $68,000 (approx. UGX239,420,800) in November 2021. The returns that this single coin has shelled out are unprecedented of any asset in that time frame. Since it first hit the market, thousands of other coins have hit the market, and crypto-enriched millionaires have come and gone, and more will.
Cryptocurrency goes beyond Bitcoin, however, as a number of coins and tokens have churned out astronomical returns in less time. The shiba inu token has been reaching record highs, skyrocketing about 60,000,000% over the period of a year.
2021 was a terrific year for crypto investors, with many tokens reaching as high as a 7,000% increase. Even Bitcoin and Ethereum rose about 40% in 2021. But the trajectory in the crypto market is almost never linear, as said tokens fell about 50% in May-June. For a potential investor seeing what a positive year it had been, it’s almost expected that the question keeps popping up; “Is cryptocurrency at its peak, or can I jump the last train?”
ALSO READ: WHAT TO KNOW BEFORE YOU USE CRYPTOCURRENCY
Is it too late to invest in cryptocurrency?
Too late: Some arguments from crypto naysayers revolve around the fact that the decentralization of the digital market will lead to the government cracking down hard on mining and trading, and eventually shut down acceptance and production of the coins, and the argument is far from baseless. In May 2021, China cracked down on crypto trading, and the prices of some cryptocurrencies fell as low as 40% in hours. A heavyweight in the ‘business’, being the world’s largest crypto market, China banned all transactions in September. Countries such as Estonia, Iran, and Singapore have also launched crackdowns of their own. If more governments follow suit, it may very well spell the end of Bitcoin and other cryptocurrencies.
Some also say that crypto has reached its peak and is headed to zero. Skeptics believe cryptocurrency to be a speculative asset class with no store of value. “Once the exuberance wears off, or liquidity dries up, they will go to zero”, the words of hedge fund tycoon John Paulson, famous for making $20 billion (approx. UGX70,417,900,000,000) by predicting the downfall of the housing market in 2008.
But It’s Not Too Late: Knowing the volatility of the crypto market and many coins being far from their all-time highs, there may not be a better time to jump in the ‘pool’ than now. Click on the next link bitqt.io/ now to start investing in cryptocurrency and increase your chances of being a crypto lord with this best platform.
Bitcoin, having seen a price value high of $63,000 (approx. UGX221,816,400) and a low of $40,000 (approx. UGX140,835,800) is far from being at its full potential, and with its power of moving the market in the direction it moves, gives hope to imminent investors.
While you may not make millions of dollars or see the jaw-dropping percentage increase like you would if you had invested a decade or a half-decade ago, there’s still a lot of profit to be made. Many argue that crypto is still very far from its peak, and there are endless opportunities ahead. Despite the expensive price of some coins, that doesn’t make them bad investments. With over 4,000 cryptocurrencies available on the market, investors are also spoiled for a choice of options.
Volatility is inevitable in the crypto world, and every investment involves risk, and with the history of cryptocurrency from its inception over a decade ago, now might be a very good time to jump in and not miss out on the benefits of the technology promises.
Invest in ‘small’ amounts, learn to stomach extreme variations, do proper research, and you could very well be one of the biggest winners of the market. With the continued spread, demand, and implementation of digital assets in day-to-day dealings, this is the time to board the crypto train.