You might have heard about people becoming billionaires and millionaires after investing in crypto. With Bitcoins and other cryptocurrencies becoming increasingly popular every passing day, making huge profits with Bitcoin investment is no longer a dream to the enthusiastic and serious financial investors.
If you, too, are planning to step into the world of Bitcoin investment, this article will help you will loads of relevant information to help you have an overall better understanding.
History of Bitcoins
Let’s get some statistical idea about the bitcoin market. At the beginning of its journey, in 2013 bitcoin’s market value was under $200. This figure started changing dramatically after April 2017 and picked at over $13,000 in 2017. After that many rises and falls happened in the bitcoin market which we call volatility. But, in October 2021 it was at its peak of over $61,000 that again dropped to under 438,000 in February 2022.
However, the market price of Bitcoin is still falling and rising due to its volatile nature. That is the point to learn. The bitcoin market is highly volatile. Rising and falling will continue to happen. So, investors suggest investing in this market because the market gives chance to make a profit either in a short term or in a long term. In order to make profits in Bitcoin investment, here are helpful tips to get you started-
- Study the market. You have access to thousands of videos and articles talking about bitcoin pricing everyday. Research well on the bitcoin statistics and other related economic facts.
- Search for a good and renowned bitcoin exchange for you. Don’t do what the Winkles twins did the first time.
- Knowledge of the investment process is very we. You can find many tutorials on that particular topic. At that instant, you can register in the Bitcoin era which is the most used platform today for bitcoin trading.
- Only invest when the market price of bitcoin is low and it tends to be higher shortly if you are willing to do a short-term investment. For a long-term investment also, try to buy bitcoin at a low price.
- You should never invest everything in Bitcoins fromyour savings; the expert financial investors recommendinvesting only 5% of the total life savings.
- Have patience. That is the most valuable learning that we got from the twin brothers. For a short-term investment, you can sell your coin whenever the price goes higher. However, if you are doing a long-term investment then you have to be patient even if the market is performing very low. Because the market is highly volatile it will continue rising and falling. Only sell your coins at that time when you think you are making a high profit out of them.
If you are still in a doubt about investing in bitcoin here are some other facts that you should know.
- You might know that the bitcoin transaction system is far better than any traditional banking system. So, some banks have also started adopting this system. They started some customer services by facilitating bitcoin transactions.
- Tesla, Microsoft, Visa, Mastercard, and many other big companies and industries started their businesses with bitcoin. They are announcing bitcoin payments from their customers to whom they provide services.
At last, the interesting part is that the demand for bitcoin is going high every day. As Bitcoins are finite in number, the maximum number has reached to only 21 million. Among them, around 19 million bitcoins are already in the market. So, only around 2 million Bitcoins can be mined in the future.
The limited supply results in increased demand. So, the value of bitcoin is undoubtedly going to rise soon. As per the financial experts’ predictions, the market price of Bitcoinswill rise up to an unimaginably $79,500 at the start of 2024 and it is expected to reach around $100,000 at the end of 2024.
Based on the aforementioned points, you must now have had understood why you shouldn’t be delaying to invest in Bitcoins. If you are an enthusiastic financial investor and looking forward to making profits out of your investment, start investing little by little in Bitcoins; it is a now-or-never opportunity.