If you simply Google “Bitcoin Success stories,” you will come across a story about a man who invested $3000 in October 2010 to buy 20,000 at $0.15 per Bitcoin. After 3 years, the price hit $350, more than two thousand times what he had spent. Next, when the price hit $800, he sold 2,000 of his early stock and just days later, he sold 2,000 more. Just like that, he landed upon a windfall of $2.3 million and after a few other sell-offs, he made $25 million from the initial investment of $3,000.
Sounds enticing, isn’t it? However, every story has two distinct sides. If you further do research, you will also find many bitcoin disaster stories such as the story of Lily Allen who turned down 100,000 Bitcoins payment for a streaming performance gig on the game, Second Life. With such stories of extreme bitcoin success or a massive bitcoin failure grabbing the headlines, it is easy to get puzzled about whether to try this lucrative digital asset or not. If you are having the same dilemma and wondering whether or not to invest in bitcoin, here’s the answer for you— yes you should definitely invest in it. Why? Read on to find out.
As we know bitcoin has soared so far in 2019 with its value growing more than 200% since the beginning of the year. However, it’s just the commencement of the crypto bull run that initiated with the high liquidity of Bitcoin. And that’s what makes it a perfect time to invest in it. Whether you are a novice in this field or a daily trader, if you are looking for a big ROI, investing in Bitcoin is the best thing to do. And the best part is you can start with minimum bitcoin investment. If you analyze the 5 year price graph, you will get to know that Bitcoin will reign for the longest time you can ever imagine.
Widespread Blockchain Adoption
The adoption rate for Bitcoin is increasing at an extremely impressive speed. In 2013, the number of merchants accepting Bitcoin was 1,789. However, in December 2018 the number reached 14,346 which is a massive 700% rise. This indicates that Bitcoin is here to stay and it will continue growing throughout the years. Thousands of global organizations are now investing time to introduce cryptocurrency into their already successful businesses. Thus, blockchain and cryptocurrencies are becoming an integral part of future global business and if you don’t want to lag behind, you should begin adopting bitcoin.
Better Cryptocurrency Regulations
Following the unprecedented cryptocurrency boom in recent years, investors and governments can no longer ignore the growth of decentralized finance. Thus, regulations are being slowly introduced into the cryptocurrency field to monitor these digital currencies, and to allow for a measure of security. With the regulations taking shape, it has reduced uncertainty to give a significant boost to trading activities and coin prices. Strict regulations are helping to reduce crypto scams and calm the fears of potential investors while offering a better foundation for future investments. Hence it is the perfect time to plunge into the realm of cryptocurrency.
Decentralized Payment System
The decentralized nature of bitcoin is another crucial reason that makes bitcoin a wise investment in 2020. Think, no banks or any other middle party will be involved to keep a constant track of your payment whereabouts and you will be the owner of your transactions. You can instantly deposit or withdraw money, 24/ from your wallets and you can do business and take your own decisions according to the market ups and downs.
Cryptocurrency investment may sound daunting for the first time especially when you don’t get proper investment advice. However, things have changed now and investing in cryptocurrencies is so straightforward for anyone who doesn’t know where to start. Also, there are fewer entry barriers than before in this sector as any market investment funds are there to give potential investors easy access to different cryptocurrencies.
Bitcoin block halving
The first Bitcoin halving occurred in 2012 and then one year later, Bitcoin scaled to its peak. The second halving happened in 2016 and the situation repeated again in 2017. Now, bitcoin block halving is anticipated to occur in May 2020 and it can have a significant effect on the Bitcoin price. Bitcoin can’t simply be created endlessly. In fact, there are only 21 million Bitcoins that can be mined in total. And for every 210,000 blocks, the reward for Bitcoin mining is halved.
While in the beginning, miners got 50 Bitcoin per block mined, the reward halved to 25 Bitcoin after four years. Today the reward is 12.5 Bitcoin for one block and after May 2020, it will halve again to 6,25 BTC. Thus, the number of new bitcoins will decrease and the supply won’t be able to surge in line with the increasing demand. And when the demand will go beyond the supply, the Bitcoin value will increase and this can be a golden opportunity for bitcoin investors. Also, central banks and governments are willing to embrace cryptos. That means 2020 may become a year of optimism for not only the bitcoins but the major cryptocurrencies.
If you look back at Bitcoin’s humble origins, you can see just how far the cryptocurrency has come. With a lower risk of inflation, lucrative uses, a high level of privacy and bigger returns than any other asset, bitcoin is slowly establishing itself as a viable means of value transfer outside the traditional financial realm. Though many people believe that the best days to invest in bitcoin are quite behind us and maybe there’s an inkling of truth in that, but the dust hasn’t yet settled. There are more opportunities lies ahead in the future. If you don’t want to regret later for not investing in this emerging trend, hop into the bitcoin wagon without further delay.