Few years ago, many of us didn’t know bitcoin would be the next big thing, and those of us who invested only took a leap of faith, hoping for the best and expecting the worst.
However, It’s no longer news that bitcoin has proven to be a profitable investment with the possibility of great returns.
Some think the crypto party is over, as they argued many years ago before Bitcoin hit its all time high. I’m sure you’re wondering if it’s not too late to join the cryptocurrency revolution.
I’m here to share five reasons why this is the best time to invest in cryptocurrency.
Over the years, the centre of discussion has been based on the longevity of cryptocurrencies, and whether it is one that will fizzle out with time. However, time has proven that cryptocurrency is here to stay.
The cryptocurrency market has become a mainstream phenomenon and it is very likely to join the forex space in the nearest future. Cryptocurrencies like bitcoin has become a household name in many countries of the world and more people are investing in it on a daily basis.
Blockchain, the technology behind cryptocurrencies like bitcoin has delivered much more than expected, and has shown the potential to improve the way we work, do business and transact. Some of the world’s largest brands like IBM are buying into the technology and investing in the exploration of the Blockchain.
Similarly, the possibilities of cryptocurrencies are endless, from the elimination of middlemen and excessive charges, to the emergence of a universal decentralized currency. The future of cryptocurrencies are very bright, and now is the best time to join the cryptocurrency revolution.
Cryptocurrencies still have much room for growth, and that is why this is the best time to join the cryptocurrency revolution. At present, the total market capitalization of cryptocurrencies is currently far below 500 billion dollars.
I know this is a lot of money, but then it means that the cryptocurrency market is still very small, when compared to gold whose market capitalization stands at about 7.07 trillion dollars.
The market capitalization of cryptocurrency is also significantly small when compared to the current valuation of companies like Amazon or Apple, and these companies don’t even serve up to half of the world’s population, as cryptocurrencies would in the nearest future.
There is much room for expansion of the cryptocurrency market, and as the Blockchain technology develops and cryptocurrencies gain more acceptance, we would see exponential growth. In fact, it is much cheaper to invest in bitcoin now than it was last year, so this is the best time to join.
With the economic instability that has become evident in many countries of the world, a universal alternative is beginning to gain acceptance. The economic situation is unstable in almost all countries of the world and cryptocurrencies like bitcoin provide a viable solution with little or no risk of inflation.
At present, the US Dollar is worth less than it was five years ago. Countries like Zimbabwe and Venezuela already use cryptocurrency as a major means of exchange since the country’s fiat currency has collapsed due to hyperinflation.
CEO of ChainTrade, Vincent Jacques stated in an interview that
“Crypto is the biggest financial opportunity in decades. Anyone from cashiers to Pakistani farmers can participate and change their life drastically. Blockchain may still be in it’s infancy but the best case scenario is a global financial revolution. Fiat currency is a system that heavily relies on debt, and that system is failing everyone who isn’t a bank. Most crypto projects are still in their early stages of development and still have years before they can prove their uses, but when they do, we really could see the largest transfer of wealth in history.”
Bitcoin is not only becoming generally accepted by investors, but by governments of many countries in the world.
Countries like Japan and Philippines have at present legalized the use of bitcoin, and the making of bitcoin related transactions.
Giant Japanese retailers like Bic Camera, which influences consumption and production of Japanese technologies now trade using bitcoin.
The Indian government has also shown interest in adopting the use of bitcoin as a Means of settling debt in the country and is also on the road to fully legalizing the use of bitcoin.
Indian Prime Minister Narendra Modi has reduced the circulation of cash bills to move the country towards electronic payment ratification, and the Reserve Bank of India is now looking into cryptocurrency.
Venezuela also fully believes in its oil backed cryptocurrency called “petro”, the Venezuelan word for oil. If many countries don’t think it’s too late to join the cryptocurrency revolution, what are you waiting for?
Retail investors have been responsible for investments in the crypto market over the years, but now, more and more institutional investors have began to pick interest.
Institutional investors are sophisticated investors and hedge funds with lots of capital, and their involvement will potentially increase the market capital of cryptocurrencies as a whole.
Vice President of Coinbase, the largest Cryptocurrency exchange in the United States, Adam White has stated that “institutional conversations have become more and more profound.”
These investors formally showed some scepticism in investing in cryptocurrencies due to the fragmented trading landscape and lack of liquidity.
But things are beginning to change, and companies are creating liquidity providing options and developing trading terminals. The arrival of bitcoin based securities will also allow large institutional investors to enter the cryptocurrency market.
Warren Wang, CEO of ChineseInvestors.com, Inc. stated that “As the company continues its expansion into the cryptocurrency space, we anticipate a 30% increase in revenues from last year, resulting in three consecutive years of revenue growth since 2016.” This will be a game changer for the cryptocurrency market, as institutional investors will help expand and stabilize the cryptocurrency market. Now is the best time to get involved.
You might have missed investing in cryptocurrencies many years ago, but you have no excuse for not catching the train now. What are you waiting for?