Is it still a good idea to invest in Bitcoin?

to invest in Bitcoin

It seems that the number of cryptocurrencies is increasing every day. From Stratis and DASH to Litecoin and Ethereum, the cryptocurrencies have become a huge hit. Of course, Bitcoin is still the most used currency of this type. There are thousands of people that have invested in Bitcoin and that’s why many people are asking the same question – is it still a good idea to invest in Bitcoin? Many experts claim that the answer is affirmative and we will use this article to explain why.

Experts say that Bitcoin can go over $100000 in the next years

Last year, an official report made by Saxo Bank has stated that Bitcoin can go over $2000 in 2017. As we all know, Bitcoin is worth over $10000 today. Keep in mind that at the time Bitcoin was worth around $750. A few months ago, Saxo Bank claimed that it is likely that Bitcoin would go over $100000 in the next decade. Obviously, no one can tell for sure whether this will happen, but the truth is that cryptocurrencies won’t crash in the near future.

More and more places accept bitcoins

In the past, the governments were quite skeptical and even banned cryptocurrencies. Today, things are changing and many national governments have realized that bitcoins can actually be good for their economy. This means that bitcoins won’t put their national currency at risk. This is the main reason why Japan and the Philippines have made Bitcoin completely legal. As a result of that, many companies including some of the most popular retailers in Japan have started accepting this cryptocurrency.

There are reports of other countries considering making such moves too like India for example. As you are probably aware, people can use bitcoins online in many online stores and on many platforms.

There are a limited number of bitcoins

Another great reason why you should consider investing in bitcoins is the fact that there are a limited number of bitcoins out there. So, we can compare Bitcoin to oil or gold. However, unlike other resources, we know the exact number of bitcoins that can be created – 21 million. According to some experts, it will take a few decades for the miners to mine the remaining bitcoins.

Hard to hack

There is always a security risk involved when it comes to currencies and cryptocurrencies, but Bitcoin is well-protected.

We hope that these reasons will help you understand the value of Bitcoin.

2017-12-23T15:57:13+00:00

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