Reasons that make Bitcoin a Good Investment Now
Bitcoin has been the favorite topic for years, enthusiasts from around the world are still searching for the answer when is the right time to invest. Many lives and breathes Bitcoin every day, rightly because of the craze it has created in the market. Following the recent COVID-19 situation, people’s attention has shifted a lot towards digital currencies. At a time when the global financial market is going through turmoil because of the pandemic, crypto price trends are attracting investors. Are you a Bitcoin enthusiast? Not sure whether it’s a good investment or not? This article will help you decide.
Consistent rise to fame
Bitcoin, the most dominant cryptocurrency has gained popularity over the years. The year 2017 saw the strongest rallies in crypto history when Bitcoin priced almost touched the magical $20,000 mark. Before that cryptocurrencies were gradually rising in demand, grabbing the attention of people from every section. In recent months the price of all cryptocurrencies has dropped down by almost 70%. The most interesting thing is there are no huge price fluctuations like the early days which created uncertainties amongst investors. Bitcoin price trends have settled to a great extent, making it an ideal investment opportunity. Though most crypto enthusiasts are expecting 2017 like Bull Run it’s tough to predict.
Bitcoin is reliable and safe
Even after one decade, Bitcoin is going through tough scrutiny and lots been said and written about its price trends. If you have been following Bitcoin all these years, one thing you’ll realize that it is much safe and reliable now. Many cryptocurrencies and legacy systems had constant reliability issues, but not with Bitcoin. Financial institutes and bank systems can cause issues or things may go wrong with payment cards and online banking systems. Numerous cryptocurrencies are available in the market today, some have had serious trust and security issues, but Bitcoin has been the exception.
With Bitcoin halving nearing on 12th May, 2020 Bitcoin price is expected to surge. Already Bitcoin’s price has shown an upward trend since March. The probability of Bitcoin price skyrocketing is very high; hence it is the best time to invest. Many new users are expected to enter the crypto network following the recent price surge. Popular and user-friendly bitcoin trading platform Australia will benefit the most as the trading volume will increase. With price surge, new users will join the market, add to it the recent financial turmoil following the COVID-19 crisis which will only push people to digital currency.
Bitcoin scaling war started way back in 2015 and it led to lots of stress, doubt, and drama within the Bitcoin community. The war finally ended in 2017 with the creation of Bitcoin Cash. This set the tone for Bitcoin development in the coming years and also provided alternatively for those who were in support of different directions. Now after years of confusion and tension, all dark clouds are gone. Bitcoin is marching ahead like never before, breaking all previous transaction records. Many have started calling Bitcoin as digital gold, in coming years it can become a payment system.
Because of this new lightning networking technology anyone can send Bitcoin instantly at a negligible transaction fee. More importantly, no third party will take custody of your digital coins, which makes it perfect for today’s world. In this lightning network, Bitcoin users created channeled and the payment is sent through this network. What’s more interesting about this Lightning network is that it allows swapping of digital currencies, make sure both digital coin supports lighting. Presently this is possible between Litecoin and Bitcoin. The use of lightning started this year and presently it is considered suitable for small payments. This new technology will not only change Bitcoin but will also transform online commerce.
Now that you are aware of these important facts, are you confident of making Bitcoin investment? Do let us know your views about Bitcoin investment possibilities now.