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Why you should consider buying Bitcoin?
Bitcoin’s value has been going up these past few years since it’s inception in 2009. Ofcourse due to Bitcoin being a new digital asset it has indeed met some volatility which is a good and a bad thing, all depending on which angle you’re looking at it from. You see this cryptocurrency has finally managed to become more stabilized since the beginning of 2021 and experts predict that it will rise to a new ATH “All Time High” by early 2022 and that it will possibly even break its 2021 record of $60 000 which is roughly R956 690 in South African Rands by the time of writing this. The optimistic prediction is that the King of Cryptocurrencies will reach approximately $300 000 which is around R4 783 449 by April 2022. Now that is a very “bullish” opinion, however as we’ve been watching the cryptocurrency markets, we are all aware that gains of this nature is not impossible. We’ve seen Cryptos make +1000% in gains. Yes! Over 1000% as crazy as it may sound.
As at the end of December 2021, the price for 1 Bitcoin exceeds $50,000, which makes this cryptocurrency as valuable as gold.
Statistics have shown that there are over 5 million users on the Bitcoin network, with many joining with each passing day. They’re keen to invest in this cryptocurrency as they’re convinced that it is a smart investment and we could not agree any more. With that thought in mind, we decided to weigh in and explain why you should also consider investing some money in Bitcoin. Let’s check out some of the reasons.
The opportunity to make a great profit
We all know that the main reason why people are so willing to invest in Bitcoin is because of the fact that it can possibly turn them into millionaires. You can earn Bitcoin by mining it or buying it at a lower price on an exchange and hopefully sell it at a higher price.
We would also like to mention how trading bots and trading sites play a massive role in this process of making money. These technologies are more than just trading marketplaces as they possess advanced AI systems which can help you sell your Bitcoins at the highest possible price without there being any human intervention, thus earning higher profits. “We have an entire section on trading bots in our Encryptoza course that you can check out if you’re interested.”
Its massive future potential
At the beginning of this article, we mentioned that Bitcoin has over 5 million users, with more joining each day. Due to the fact that it is very
well-accepted among the people and gives us the power back to control our own money, many experts believe that Bitcoin will continue to rise as time goes on.
Some of them even believe that there will be a time where a majority of the world’s population will use Bitcoin. During these times, governments will
have a lot of pressure from the public and they will have no choice left but to make it an official payment method or legal tender as we’ve already seen some countries such as El-Salvador allowing its people to use Bitcoin as a form or payment alongside its fiat competitor the US Dollar.
Early investors will be able to profit the most from these events so if you do happen to invest now you will also be considered as an early investor as major Bitcoin and Crypto adoption is yet to take place.
Far more reliable than other cryptocurrencies
Bitcoin sparked a revolution that motivated many people around the world to dive into this world and try their luck. Hence, there are many other
cryptocurrencies on the market, and many have been investing in these other cryptocurrencies which are known as “Altcoins” or some Bitcoin purest even go as far as calling them “Shitcoins”. Just a reminder that we are not hating on the “Altcoins” as there are exception cryptocurrencies that solve real world problems.
But the truth is, no other cryptocurrency even comes close to Bitcoin. Apart from the many advantages that Bitcoin has over FIAT currencies, its just way more superior in comparison to the other cryptocurrencies. One may argue on the issues of Bitcoins scalability and energy consumption on the Proof of Work model or even go as far as debate on the transaction costs, however we still see Bitcoin’s network as far more stable than the other cryptos.
Its infrastructure is also far better, which adds to the stability of the network. Bitcoin is among the cryptocurrencies that put massive effort into
protecting its users, which is why it’s considered as one of the most secure cryptocurrency on the market.
Bitcoin is regarded as digital gold
Due to the scarce nature of Bitcoin, where only 21 million Bitcoins will ever be in circulation, makes it a deflationary digital currency and most
experts even compare Bitcoin to physical Gold.
Bitcoin is considered as digital gold and as you are aware, Gold does not loose value over time but instead appreciates further in price as time goes by. We have an entire section on on the “Monetary System Course” where we discuss Bitcoin and compare it to FIAT currency such as the dollar and commodities such as Gold.
Bitcoin Market Cap
Lastly and most importantly, Bitcoin is the undisputed king when it comes to its value. With a market cap of almost 1 Trillion Dollars, no other
cryptocurrency even comes close in this field!
We hope that this article has inspired you to want to invest in Bitcoin, as inflation is real and our money continues to loose buying power as time goes by. Its important to understand this especially if you’re saving money in your bank account for your kids future education or for what ever reason it may be. We have an entire section on the current monetary system and how money is created which is very valuable if you want to learn more about money. You can check this out by signing up in our Free Beginners Course.