Can bitcoin be profitable to invest in ?

[keep5591]

And if not, what cryptocurrency should I invest in ?


- Keep5591

[Pmalek]

Back in 2010 Bitcoin was worth around $0.05 and in Dec 2017 the price went up to almost $20.000 so I think you can safely say that it was pretty profitable to invest in.
Check coinmarketcap or the below chart for some historic prices of Bitcoin.
https://www.buybitcoinworldwide.com/price/

[Velkro]

Can bitcoin be profitable to invest in ? )

Look at price history, every 2-4 years there was bubble with 2,5 or even 10 times price increase. Now is not bubble time so its in theory good time to invest.
If Bitcoin  can be profitable? Hell yeah. People made and lost amazing amount of money on Bitcoin. Be the person that made not lost money good luck!
Don't bother with any other crypto, its in short copy-paste of bitcoin with minor changes. Only original matters.

[Potato Chips]

With its volatility, yes, but please don't interpret it as a guaranteed easy money/get rich quick, you would still need a strategy on how you're gonna approach things. It's true that lots of ppl profited but the same also goes to loses, there's tons too.

Don't invest in something you do not know well, learn about bitcoin first or anything suggested here that piqued your interest.

[jossiel]

You need to conduct more and more research, as everyone said DYOR (Do your own research). Bitcoin for us who invested quite early mid of 2015-2016 and earlier whom managed to held up to 2017 surely got profit.

And I've been holding until now, you'll not juts hear good stories who made good money out of bitcoin. There were also people who didn't made money but instead lost a lot of money because they invested at the wrong time and they didn't know what they invested.

[leowonderful]

As others have already mentioned, make a plan for investing into Bitcoin and stick to it or change it if absolutely necessary, and investing into BTC can definitely be profitable. Dollar cost averaging (DCA) is a pretty good method of putting money into BTC in my experience as you're not entering at one single point but instead buying in at multiple price points so you're not as affected by the volatile price movements in this market we're in right now; if you don't already know what DCA is, you essentially put in a set amount of money into BTC every week or month continuously. Investopedia (click here for link) has a basic outline of DCA as well if you'd like a deeper description of the process.

[Alluro]

Yes, it is, the bitcoin investment is profitable if you invest correct time. There are so many other altcoins too. You can check out those coins on coinmarketcap. But don't invest your all money in cryptocurrencies. Because they always have risks. The next thing is doing your own research about cryptocurrencies before you invest it.

[CryptopreneurBrainboss]

Considering the future price, then you can say bitcoin will be profitable to invest in now. Every year new individuals (investors) joins the crypto revolution in there thousands and there's a high possibility of them buying bitcoin. Understanding the rule of demand and supply, you will know the price of bitcoin has only one future movement, which is upwards. So yes, investing in cryptocurrency is profitable but your strategy also has a role to pay, invest wisely, only invest what you'll be comfortable to lose.

Don't take this as a financial advice, I'm not qualified to give that, it's just an opinion.

[OgNasty]

Just make sure to properly store and secure your Bitcoin. The last thing you want is to lose all your coins in a boating accident.

[Princemachiavelli]

The way the world is moving everything is becoming digitalized. The switch from money being tangible to intangible is inevitable. Last time I checked only 1% of the world is in crypto as number increases and the usefulness of the coin will increase as will.

Invest carefully and have a cold storage to store your coins. DONT PUT YOUR LIFE SAVINGS IN and RESEARCH CAREFULLY

[UserU]

You missed the major bull run almost 2 years ago, that time it's so profitable every altcoin and shitcoin besides BTC made most investors rich.

But currently BTC is more or less stable after the corrections. If you want to invest without shelling out too much, try margin trading on forex platforms. Else, just start buying bit by bit with your own money and wait for the hike before selling them off.

[Dudeperfect]

We have seen Bitcoin has given exponential returns since inception but that doesn't mean you will get same returns from it in the future too. However, one can definitely earn a handsome profit if he is doing adequate research and investing as per the wise investment strategy. I am not here to recommend you any X coin but to insist you for doing own research instead of relying on others opinion. Doing own research always helps in taking control of our investment at any given point, that's what I learned when it comes to the basics of investing.

[vagrom]

The short-term uncertainty, but long-term holding I think it should still be possible, personal opinions, for reference only.