Bitcoin topped at almost $58,000 this week, a record high. With the market cap inching towards $1 trillion, is it really okay to consider that Bitcoin has gone mainstream? Larger companies such as Tesla, Paypal, and Square are catalyzing Bitcoin’s mass adoption by accepting digital gold as a payment option.
With how well Bitcoin is doing today, both as an investment and as a currency, one can only wonder if it is too late to invest in Bitcoin. This article will illustrate that sole point.
In a world where we have paper currency with no actual value, Bitcoin shows a very promising future. So, in today’s age, we have only binary choices in front of us which are to either pump the global debt or to pay with worthless cash to support our extravagant lifestyle.
We should approach Bitcoin a little more differently than fiat currencies since it’s a bit less extreme. People have been investing and trading it for years and have become amazed by it. The rewards for its supporters have been astounding.
A significant part of the community believes that they haven’t invested as such. It’s unlikely people will make another investment like this for the rest of their lives because there may never be another Bitcoin.
We understand the hassles of psychological challenges when you purchase a commodity that shows results that goes a step further than your actual expectations, so you ask yourself a bigger question “Wouldn’t it be better if I had purchased more? ”. You can always desire more and spend more; however, it shouldn’t matter.
What matters is how do you discipline your psychology when Bitcoin madness is sweeping the world ever since it went mainstream. And how do you deal with Bitcoins when it is on the frontline of every social media outlet, on the headlines, and promoted by big names.
Well, it’s simple. You remain composed.
Remember, in life, there is nothing as such as being late to anything; if you think about it actually you’re right on time.
Bitcoin’s success and record-breaking asset prices are irrelevant. If you haven’t gotten your hands on any or don’t understand the asset, you have other concerns. You must assess yourself and determine if you’re willing to change as much as to reconstruct every tiny knowledge you have about money and investing. If you’re determined, then there’s an opportunity.
However, if your mind continues to stay closed, then the world is closed, and so are the opportunities.
Bitcoins can be very complicated. We’ve had our fair share of doubts. Bitcoin is a pure scam; that was my thinking when I hearing about it for the very first time. And it’s safe to say that Bitcoins aren’t easy to understand hence why most people are quick to dismiss it and classify it as a scam, so they don’t feel stupid.
Here’s a simple summary:
● Bitcoin was introduced by a pseudonymous creator called Satoshi Nakamoto in 2009.
● Satoshi Nakamoto introduced Bitcoins as a peer-to-peer E-money system.
● Satoshi Nakamoto made sure there are 21 million Bitcoins ever to be made in existence.
● Currently, there are around 19 million Bitcoins in circulation, and as we reach the end of Bitcoins, the value increases just like gold.
● Every Bitcoin is digital, and they’re only safe if you keep them off of the internet.
● Bitcoin is a way to store value. Currently, it can also be used as a payment option across several companies.
The too late mindset or the fear of missing out mindset isn’t a good sign for your mind. It makes you feel horrible. You can see people regret not investing in it when they think about bitcoin.
However, the main problem with Bitcoins is that buying them at a reasonable rate is in itself unreasonable thinking. Do you know Why? Because Bitcoin has a habit of breaking records and proving itself to be the leading asset each year. Today, Bitcoin is the top-class performing resource of the decennium. This is why you can never buy Bitcoins at a fair price. If you end up buying it; either sooner or later, that is the main thing that counts.
You must forget the price and evolve your perspective of Bitcoins. Bitcoin, as an asset, has no concern with the price at all. It actually resolves a millennia-old problem. The current accessibility of bitcoin to the public is inching towards $1 trillion.
Right now the gold’s supply value is roughly $9 trillion. Simultaneously, the global derivatives supply is over around $640 trillion compared to the $95 trillion value of global stock’s supply.
Experts suggest that if a nominal amount of money moves from one of these asset classes into bitcoin, then the price will see heights never seen before. Companies around the world are changing their investment policies. After buying $1.5 billion worth of Bitcoins, Tesla announced in an SEC filing that they’re evolving their investment policies for diversification. However, many people believe that Tesla and other firms have to invest in Bitcoins because there are only a few places to put your money during a recession.
It is evident that the world of money is lagging, and Bitcoin is trying to shift the paradigm with a digital narrative. We can use our mobile devices and store our money without having to worry about its value secretly eroding taxed by inflation.
Do your due diligence, if you are interested in Bitcoin. Understand how things work. Avoid the fear of missing out. Keep yourself away from any hype and educate yourself on the issues it tries to resolves because the ideal moment of buying bitcoin is the instance where you start to see its true worth by understanding it.
We admit Bitcoin is way too expensive now. No one has $55,000; oh wait, $56,000, oh wait, $58,000 lying around. However, there’s a way you could invest in Bitcoin called DCA. DCA, commonly known as the dollar-coast averaging, is one of the most effective methods if you want to buy Bitcoins.
For an average person looking for a more straightforward approach, research suggests that dollar-cost averaging Bitcoin purchases have initially provided a consistent investment return. Data indicate that investors who purchased $1000 worth of Bitcoin in 2017 have surged their portfolios and outperformed all traditional markets.
Dollar-cost averaging is a safer method to invest in volatile assets. Instead of throwing out your cash all at once, you could divide the larger sum into smaller amounts and invest those smaller amounts regularly over time.
In the Bitcoin world, there is nothing as such as being late in investing. Bitcoin has never been about the price it’s worth; instead, the value it holds to solving the money crisis. If you believe in the asset to solve problems with money, then it is never too late to invest in Bitcoin. What are your thoughts on this? Is it too late?