Cryptocurrency is continuing to make headlines. The recent Bitcoin (BTC) dip is not going unheard in circles.
Many are predicting a long time for Bitcoin to bounce back and some even labelling cryptocurrency as an unstable investment.
Does this mean that Bitcoin (BTC) has a bleak future?
Bitcoin has emerged as the most stable cryptocurrency since it was introduced into the market. Bitcoin has the support of the Key Opinion Leaders (KOLs), thanks to its adaptability, profitability, and enhanced safety.
If you are thinking that it is not safe to invest in Bitcoin, you should know that Bitcoin has successfully bounced back after such slumps in the past.
Let us find out whether you should be investing in Bitcoin or not.
What is Bitcoin?
When you are investing in a stock or cryptocurrency, you should understand it completely.
Bitcoin is a first-generation cryptocurrency that exists online. Bitcoin is a digital currency, and its transactions are recorded on a public distributed ledger.
The Bitcoin ledger ensures enhanced safety and profitability as compared to other cryptocurrencies.
Some of the benefits offered by Bitcoin are as follows:
- Bitcoin works on a peer-to-peer network.
- The Bitcoin protocols are designed in a way to control its supply.
- Bitcoin is decentralized. So, there is no involvement of banks or governments in Bitcoin.
- You can make Bitcoin transactions at any time anywhere worldwide.
- As Bitcoin is stored online, you can travel around the globe without the fear of taking care of your money.
- Availability of Bitcoin 24/7.
Carl Runefelt, alias, The Moon, is a global crypto leader who has invested in more than 350 crypto startups.
He believes in a crypto-dominated global financial system and says, “Looking at Bitcoin in the short period defeats the purpose of what Bitcoin is. Bitcoin is a long-term solution to a broken financial system, and I think in the next five years or in the next 10 years that’s the kind of time horizon I have when I look at Bitcoin,”
Bitcoin is Safe
Cryptocurrency is extremely volatile, and its value can fluctuate within seconds. On the other hand, there exist risks of fraud in the crypto market that may frighten you.
But do you think that the international trade market is free from risks?
One factor that has played a vital role in the stability of Bitcoin is its enhanced safety. The Bitcoin ledger is highly secured and ensures the enhanced safety of your investment.
Carl emphasizes, “Obviously, gold is also extremely safe. But I would say that Bitcoin is safer because of course it is online no one can just steal it or hack it. Bitcoin is harder, so in times of uncertainty I think Bitcoin is going to prove to be very strong.”
Is this the Right Time to Buy Bitcoin?
Bitcoin is volatile and your returns can change instantly.
But Bitcoin over the years has proven to be a sound investment for many. People across the globe have made millions of dollars with Bitcoin in the last few years.
When the price of Bitcoin is falling, this presents a remarkable opportunity for you to buy Bitcoin. Soon, Bitcoin will again rise from this dip, and it may be difficult for you to buy it then.
Carl Runefelt on his YouTube channel, The Moon, says, “Keep accumulating all the time within your budget essentially and I think the big goal that is of course a cool thing is to own one Bitcoin because one Bitcoin is actually now quite expensive but soon it is going to be absolutely unobtainable for a normal person.”
Get Your Bitcoin Today!
You may have heard people talking about different investment strategies in cryptocurrency.
Well, devising a sound trade strategy in cryptocurrency is beneficial.
Bitcoin is a game of patience, and you should avoid paying too much attention to its daily chart. If you base your investment in Bitcoin based on its daily chart, it can look volatile, and you can easily panic.
The Bitcoin dip can be a huge opportunity for you to accumulate your Bitcoin. Considering its recent past, the value of Bitcoin has increased immensely after going down. So, by investing in Bitcoin at this time, you can make millions of dollars when Bitcoin will bounce back.