If you’re an avid investor looking to make the most of the stock market and cryptocurrency movements this year, you might be asking yourself whether it’s worth it to invest in Bitcoin.
As you may already know, the currency is again taking off given that it’s essentially been declared as somewhat of the ‘gold’ of the cryptocurrency world. However, this has also made some investors wary of how far Bitcoin has left to go and whether there remains any key avenues for growth.
Of course, there’s typically always price swings in any stock or currency, though with cryptocurrency being quite new, many investors and the general public are still confused and a little wary about whether to buy into Bitcoin or not.
That said, we suggest taking a looking at investor platforms and determining whether Bitcoin is worth it for you, or whether some of the other small movers are a better option.
Why People Consider it Too Late to Buy Bitcoin
Off the top, it’s important to note that a lot of seasoned investors and casual investors in the stock market are queuing up to say that Bitcoin is over thanks to the price of the currency at the moment.
At the start of 2021 Bitcoin has taken quite a large swing, making it seems as though there isn’t too much room left for an incline, meaning there are only losses to be made.
However, Forbes have outlined that it’s never too late to buy a cryptocurrency, especially Bitcoin. This is down to the fact most traders in the coin aren’t day traders and are essentially here for the long term.
That in mind, Forbes and other experts for the website are touting that Bitcoin remains somewhat of a winner for the long-term investor given that there is promise for the coin to become standard over the next few decades.
One final thing to keep in mind is that Forbes and Cane Island Digital Research have provided insight into the dollar-cost averaging of Bitcoin and have data to show that there still remains an incline in the earnings on Bitcoin.
It may not be as high as it was back in 2017, though there is still a steady climb in the returns offered from the cryptocurrency market’s most popular coin.
Slow and Steady Wins the Race
With the coin race slowing down and volatility beginning to step aside in the cryptocurrency market, it’s good to keep in mind that this may be an even better time to invest than previously, at least according to platforms like Coin Telegraph.
As we all know, money in the stock and exchange markets are in the long game, and now that the cryptos have started to slow down and act a little more like true currencies, it’s looking as though these could be winners for the long term. That in mind, investing in crypto through platforms like Independent Reserve will be a little less sporadic and more relaxed than in previous years.
Another statistic pointed out by Forbes is that there’s little chance of us seeing another large $10,000 to $25,000 jump in Bitcoin — going both ways, as a rise or a fall.
That considered, it’s integral to keep in mind that according to ADVFN data, Bitcoin may very well be a buy opportunity given that the coin is stabilizing at a relatively high price and not looking to be as volatile as it once was.
Bitcoin aside, there are a ton of other coins on the cryptocurrency market which are worth considering too. All of which generally follow the same trajectory and movements as Bitcoin — meaning they’re starting to stabilize and become more normalized when compared to the stock and forex market.
For example, you may want to take a look on your trading platform or do your research on coins such as Ether or Ripple and take a gander at whether these are going to be the coins for you to consider.
One final thing we’d like to point out, as highlighted in a recent outline from experts, is that cryptocurrency could make a move from being a rather niche asset to a totally standardized one on the world stage, making it a major opportunity for growth. That in mind, it may be crucial to consider whether you’re on the bandwagon for this type of market change, or if it’s an unlikely situation that isn’t worth betting on.