You must have heard about Bitcoin. Is it a get rich quick scheme, fraud or what? To know, read and become familiar with the mystery of Bitcoin. Almost a decade has passed since the invention of Bitcoin and cryptocurrencies.
Is Bitcoin Worth Investing?
Bitcoin is a decentralized system with no political institution or central issuing authority controlling the exact amount of circulation. Essentially, it is structured on the blockchain technology. It is one of the secure modes of privacy in the digital and technological world.
Bitcoin witnessed tremendous growth in 2017. The late December made a wide range of Bitcoin holders rich and in no time. Since then, a decline has been the fate of the Bitcoin and thus the rest of the cryptocurrencies.
Should you invest in Bitcoin? None knows the absolute answer to be true. Nevertheless, a thorough examination of the past trends and the future trends speaks volumes about it.
Hodl or Sell?
If you are a crypto freak, hodl must be familiar. It means to hold the amount Bitcoin a person is holding. The current prices of Bitcoin range between $3,000-4,000. A year ago, a single Bitcoin cost well above $15,000. Those who sold it were the winners.
What about those who are still hodling? They must be foolish or something like that in your opinion. Do not rush to pass judgments.
What if Bitcoin witnesses another uptrend that it received in late 2017? Bitcoin at $25,000, how does it sound? Amazing!
Replacing Paper Currency
Thousands of cryptocurrencies are in the market. The king is Bitcoin. If the price of Bitcoin rises, other cryptocurrencies also accelerate. How long the trend of paper money and the manipulation of the bank will continue?
Experts have claimed Bitcoin will be the new digital currency because of the safe transactions. It is very volatile though which makes it controversial. Primarily, the manipulation of whales and big guns dominate the decline and rise in the prices of Bitcoin.
The Future of Cryptocurrencies
Bitcoin holders must be worried. The extremely low prices of Bitcoin are a dangerous sign for them. What hides In the future?
Will Bitcoin reach a million dollars or the bubble will burst in the future? This question is killing the internet platforms these days. With immense money been put into Bitcoin, people are unsure whether to sell or hold their Bitcoins amid the crisis. Their condition is similar to the boy who is unsure and always cries in front of others to
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The security of Bitcoin is also not absolute. Several instances have been reported where wallets storing the digital currency were hacked and looted. Without a shade of doubt, the blockchain technology can never be shattered in the current times. The fate of blockchain technology will change entirely after the advent of advanced computations and technology.
The Final WordThe blockchain technology is promising and has amazed everyone in recent years. The future of Bitcoin is neither bleak nor bright. Without several speculations and rumors, none can claim that it will reach this pri
e by the end of this year. A thing is for sure. The prices of cryptocurrencies will continue to face a decline in the near future.
If they do manage to witness a surge, it will be next to a miracle. For you, this is the right time to buy Bitcoin. If you desire to buy it in the future, the prices will certainly be higher.
So, invest what you can afford to lose and let Bitcoin do wonders for you.
Bitcoin is very worth to invest even the price now is very down. Until now we are not sure if bitcoin or other cryptocurrencies have chance to replace paper money but we are modern era where all of us always use internet so I think somewhere in the future there is small chance that cryptocurrencies might replace paper money. But, I want to say and I'm surely that bitcoin will never become a bubble.