Is It Too Late to Invest in Bitcoin?
Yet some others say that it is dirty money; it harms the environment and criminals manage it considerably.
Several other charges against today’s most popular cryptocurrency are that it is volatile, unpredictable, inexplicable… A few vast investors, like Elon Musk, the founder of Tesla, dominate the market and manipulate the price as they wish.
All of these critics might be valid; however, one should accept the success of Bitcoin, given that its market cap is $1 trillion.
A couple of months ago, the price was below $30,000. It reached the price of $60,000 in October. Some predict that the cost will soon exceed the threshold of $100,000. This trend might make you think that it is too late to invest in Bitcoin. However, as the chief executive of Polybius, Anton Altement, claims. As it is never too late to invest in gold, “both assets are perceived as a reliable store of value and it’s likely to stay that way for the foreseeable future.”
According to Clement, two main factors affect the price of bitcoin. First, as the coin’s supply will not increase at some point, money printing and monetary easing boost its appeal. The increase in the investments at the institutional level also influences bitcoin price: “As crypto-assets mature and their purpose becomes clearer, institutional investors are keener to embrace them.”
Investment Mastery chief executive Marcus de Maria claims that we have only just begun: “Less than 4 percent of the world’s population holds Bitcoin, which means it has a lot of room to grow.”
De Maria states that there is one question to ask: “Bitcoin is like money 2.0 since it is cheaper, faster, and more accessible. So, why didn’t people buy when it dipped?” He thinks that the investors might be afraid of the potential risks: “Instead of being happy when it falls, they get fearful. The danger is that too many buy high and sell low, instead of the other way around.”
The founder of banking platform Tally, Cameron Parry, claims that the bitcoin’s extreme volatility is inevitable since the assets are concentrated in the wallets of a small number of investors. However, this volatility also means that huge spikes or lows are quite possible at any time. Ross Thompson from Arden University remarks: “There is likely to be another drop sooner than later, giving people an opportunity to invest.”
The lows that bitcoin experienced this summer might be seen as a missed opportunity for many. However, Chris Muller from DoughRoller.net claims that lots of other options to buy bitcoin are ahead: “Even once all the Bitcoin is mined, which will take a while, each can be broken down into one hundred million ‘satoshis,’ plus there are many other digital coins out there.”