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Is Bitcoin Still a Viable Option Investment in Future?

Eseandre Mordi



Since the inception of bitcoin almost a decade ago, its price has risen and fallen at an alarming speed several times. When the price of bitcoin starts to fall, those holding panic and begin to sell, which only serves to lower the value even more. However, the drop in the value of bitcoin never lasts long because the price picks up within a short time. Nonetheless, the value of bitcoin recently dived to trade at under $6000 after hitting an all-time high of almost $20,000. Also, it seems that bitcoin value will keep decreasing and this raises a question of whether it is still a good idea to invest in them.

Although many people have only begun to understand cryptocurrency and how it is used, the bitcoin era seems like it has come to an end. However, cryptocurrency experts believe that bitcoin is only trying to find its footing in the digital currency world. In fact, some individuals argue that bitcoin will hit $33,000 by the end of 2018. You may think this is too ambitious considering the current state of the coin, but bitcoin has proved time and again that it is capable of bouncing back after a significant retracement. Therefore, there is no reason that this time should be different and the currency would just fade away.

Contrary to what many people who are panic-selling their bitcoins, hence making massive losses, particularly for those who bought them in 2018 think, the cryptocurrency will rise again. Notably, the value of bitcoin will surpass any price it has ever been sold before. Thus, if you intend to invest in cryptocurrency or any other digital product, bitcoin would be a good choice. Nevertheless, it is essential to understand that buying now may create more panic for you in the next few weeks. As a result, you may get tempted to sell faster to avoid losing money. In this case, it is vital to remember that you are investing in bitcoin for long-term gains. Therefore, it is advisable for you to wait for the price of the coin to stabilize and stop dropping so that you can buy.

Many people make the mistake of following market trends instead of doing due diligence on their preferred investment. As a result, when the prices in the market start going south, the flow carries them, and they end up losing part or their entire amount invested. So, do not get taken by the bitcoin wave or the hitches in its value. If you want to buy bitcoin as an investment for the future, you must do extensive research on it before making a decision. First, you need to understand what cryptocurrency is before you consider purchasing bitcoin. After you have sufficient knowledge of how digital currency works and the way people use them to make profits, then research about the available coins in the market. It is important to know that bitcoin is not the only cryptocurrency available which you can buy as an investment. Other crypto coins include Ripple, Ethereum, Litecoin, and hundreds more.

Once you have learned about the benefits and disadvantages of each coin, you can go ahead and decide whether bitcoin is the best choice for investment or not. Nonetheless, some cryptocurrency experts believe that bitcoin is the trendsetter in the market, hence the best option as a future investment. When the price of bitcoin plummets, so does that of other digital currencies, especially those following it closely in popularity. As such, it can be said that bitcoin is still a viable option for investment in future and its value will increase significantly. In fact, the price of bitcoin is currently above $8,000, and it is evident that the price will keep rising.

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