As the first cryptocurrency to break into the finance market, people are keen to know about Bitcoin’s future. And for a good reason, Bitcoin is a unique brand that promises a new world of restriction and inflation-free monetary exchange. With the development of blockchain over the past ten years, the cyber-currency industry is looking forward to enhanced security and faster exchange rates.
On the other hand, due to the pandemic and other reasons, there’s a reasonable concern for doubting Bitcoin’s inevitable success. This article will discuss the company’s most recent developments to help you decide if 2021 will be the year you decide to invest in Bitcoin.
What is the Current State of the Bitcoin Market?
With so much economic uncertainty in today’s world, it might seem counterintuitive to invest in a risky business venture. However, there are a number of reasons why now is the right time to get involved in Bitcoin.
For one, the pandemic has brought the market value of Bitcoin and other cryptocurrencies down. These lowered prices afford people a low-cost point of entry to purchase coins or begin investing in data mining. Any effort or money invested today will inevitably result in greater returns, as it’s very unlikely the market will return to pandemic levels.
Secondly, Bitcoin is enjoying an unprecedented amount of attention from credit card companies and national governments. Companies like VISA and MasterCard are venturing into cyber-currencies. These ventures will help eventually to allow customers access to new cyber currency investing options and opportunities. Additionally, countries that were previously opposed to virtual currencies, such as India, are now investing in the industry.
These ongoing developments in the cyber-currency market make it more likely that growth is in Bitcoin’s future. As prominent credit card companies and highly-population countries buy into the crypto-currency way of economics, Bitcoin will continue to grow in value and market influence.
Is Bitcoin a Safe Investment?
There are thousands of cyber-currencies in today’s market, and more are currently on their way to launch. Bitcoin remains the largest and most highly regarded cryptocurrency in contemporary economics.
Anyone at the beginner stage should recognize that no investment is sure to provide returns. This reality is applicable to Bitcoin. It is a highly speculative market pinning its business model on the assumption that contactless exchange is the future of economics.
Optimism is high that Bitcoin will reign victorious over traditional forms of payment. Despite this, the company is highly sensitive to market fluctuations. These fluctuations make investment risky over short term periods of time.
Despite these fluctuations, the currency has grown 1000% in the past decade. This indicates that if you want to reap the rewards from Bitcoin, they will likely occur in the long term. Just make sure you do your research first and avoid various get-rich-quick schemes like Bitcoin Evolution.
Currently, Bitcoin is making massive gains in reaction to the COVID-19 pandemic. Economic advisor Niall Ferguson is already calling Bitcoin the “winner” of the COVID-19 monetary revolution. Prices have dropped since the recent boom. But Bitcoin’s reaction to the pandemic is a positive sign that it can withstand major market fluctuations.