Is Bitcoin Still a Good Investment?
Bitcoin, the first cryptocurrency on the blockchain and the most popular digital currency has experienced a dramatic boom in the past few years. Bitcoin has given investors extraordinary returns. Early adopters and investors have seen up to a 100000% increase in just a few years. Despite this great record, there is widespread doubt amongst investors today if Bitcoin and cryptocurrency, in general, is still viable investment.
Some people argue that Bitcoin has seen its best days already and predict a steady decline or at least a consolidation at its current price. They believe it would no longer give the outrageous returns that have drawn attention to it over the years. This is largely because of the decline that Bitcoin and cryptocurrencies in general has seen this year. Some others are afraid of getting scammed by scammers who operate in the cryptocurrency space.
While all these fears are rational to any average person, it is a matter of fact that Bitcoin still has a lot to offer investors. A look at yearly charts will reveal that cryptocurrency's current dip in value is consistent with its pattern of movement and suggests another big boom in the offing. Similar dips were seen in 2015 and 2020. Also, developers, exchanges and other stakeholders have come up with security measures to curtail the activity of scammers.
In conclusion, Bitcoin is still a very good investment because it remains the most popular and widely accepted digital currency. Also, with greater adoption and innovations coming into the crypto space, it is certain Bitcoin is here to stay. However, always do your research before investing in anything.
