Bitcoin had experienced a flurry of excitement in the crypto world when its price approached $60,000 in March after a bull market phase that started around its having in May 2020. A lot of investors that had bought Bitcoin in the past managed to earn a lot of benefits from their previous investments. But what about the new investors who want to jump on the Bitcoin bandwagon now? Is Bitcoin a worthwhile investment in 2021? We explain that and more in this article.
A lot of people are choosing to buy Bitcoin because it’s a great hedge against inflation. In fact, Bitcoin operates on a decentralized database – the blockchain network which doesn’t require assistance from external entities, and further, it is not impacted by the fluctuations of the financial markets. This is extremely useful if you live in a country where there is a certain kind of instability, whether political or financial.
Also, similarly to gold, there is a limited number of Bitcoin tokens that can ever be generated in the network, which is 21 million BTC. This means that in the long run, the supply will remain scarce, while the demand follows an upward trend. This is why there is increasing institutional support for cryptocurrency. And also, you would notice how during the past year, even with the uncertainty that exists globally, Bitcoin entered a bull market phase.
There are numerous only trading sites that allow you to quickly exchange or sell BTC if you want to. Furthermore, there are also automated trading sites for many different financial sectors where you can leverage your position and invest, for example, in oil. Oil is also considered a valuable asset, and it’s even compared to gold; there are automated trading sites that are useful if you’re starting out in this field, like the Oil Profit Website, where you can start trading by investing at least $250.
The automated trading system has fully automated CFDs trading from start to finish, and you can earn an ROI of up to 90%. Plus, the platform is mobile-friendly and ready for trading on the go.
Bull Market Phase
People want to invest in Bitcoin because if this is expected, the bull market phase to continue for the rest of 2021 and to fuel the growth of the cryptocurrency, especially since there are approximately 3 million BTC left to be mined.
From January 2021 to March, the price went from approximately $40,000 to over $60,000 in a very short amount of time. When it comes to the so future predictions of the price, it is expected to hit $100,000 by December 2021.
Other crypto enthusiasts believe that its price can rocket to over $300,000 by 2050. Even if you take into consideration the volatile nature of Bitcoin, the price never goes back to a previous price point before the halving. So, essentially it is estimated that Bitcoin will follow this upward trend in the next years, especially with the next having scheduled to happen in 2024.
Goods and Services for BTC
There is a rising number of businesses, including very famous brands that support Bitcoin and accept BTC payments. So, you can purchase different products and services, including cars, online memberships, gift cards, and other products and services online and offline.
Of course, given the current bull cycle of Bitcoin, it is estimated that the number of companies will even be higher in the future. When it comes to famous companies that accept BTC payments, you will find reputable brands like Tesla, Home Depot, Burger King, Shopify, Square, OK Cupid, and many others.
In conclusion, Bitcoin as a decentralized cryptocurrency offers a lot of advantages to its users, including anonymity, short processing time, inflation hedge, and low transaction fees. In addition, if you ever want to exchange BTC or sell it, there is an abundance of trading sites to do so. Also, it should be noted that there is a limited supply of Bitcoin, so it’s better to invest now because the Bitcoin tokens are being mined rapidly.