No, it's not too late to buy Bitcoin. If you believe that Bitcoin has a strong long term future like many others do then it's always a good time to buy Bitcoin.
Bitcoin is the most valuable cryptocurrency in the crypto charts. The cryptocurrency was launched in 2009, and over time, it has grown in both value and popularity. The recent BTC rally to over $65K has many investors wondering whether it is too late to purchase BTC. However, it is still the opportune time to invest in Bitcoin, as the cryptocurrency still has a long way to go.
Below are some of the reasons why it is not too late to start investing in Bitcoin.
Bitcoin Outlook For 2022
Before we look at what 2022 could look like for Bitcoin, already analysts at Standard Chartered had predicted that Bitcoin could reach $100k before 2021 is over. In 2022 further gains for Bitcoin are expected according to some speculators, the same Standard Chartered analysts suspect Bitcoin could be worth up to $175k.
Is It Too Late To Buy Bitcoin In 2022?
Investing in Bitcoin at the right time is a key factor that will determine your potential gains or losses from investing in Bitcoin. A straightforward answer to whether it is too late to buy Bitcoin or not is No, It's not too late to invest in Bitcoin if you believe in the future of this Cryptocurrency however there's a lot more factors to consider when deciding, which we'll cover in more detail below.
Bitcoin Is Still In Its Early Stages
Bitcoin was launched in 2009, and at the time of launch, it was trading at around $0.0008 and $0.008. However, it grew with time to reach its current values. Looking at the current BTC prices, one could think that it is too late to invest in the cryptocurrency. However, BTC is still in its early stages of development, and it has a long way ahead.
BTC’s early years were marked with much opposition from those who did not understand blockchain and virtual currencies. BTC’s recognition and adoption by governments and financial institutions has only kicked in recently, and this is attributed to the growing value. With only around one or two years of adoption, BTC has grown tremendously in value. This adoption is expected to progress into the future, and as BTC becomes mainstream, values will skyrocket.
BTC as a means of payment has also only been recently accepted. Currently, payments giants such as PayPal have launched cryptocurrency services that allow buyers to purchase from various global merchants using Bitcoin. BTC as a medium of exchange is expected to boom in future and lead to a price rally.
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Institutional Adoption Is Growing
When it comes to institutional crypto adoption, Bitcoin takes the lead. As the primary cryptocurrency, it has found its way to investment portfolios of many investors who believe that digital assets are the future of investments.
MicroStrategy, an analytics firm, is one of the institutions that has heavily invested in Bitcoin. The company currently holds more than 100,000 Bitcoins, and it plans to accumulate more in future. Major Wall Street banks have also embraced Bitcoin as an investment option. Goldman Sachs and JPMorgan are among the leading financial institutions that have embraced Bitcoin because of growing customer demand.
Grayscale, a digital asset custodian firm, has also reported an increase in the Bitcoin Trust. Grayscale offers digital asset custody services as well as investment options related to these assets. With the Bitcoin Trust being the largest for the firm, it shows that investors have embraced the primary cryptocurrency as an investment option.
The demand for Bitcoin as an investment option is only expected to grow in future, which means that prices will be gearing up for a massive rally. More investment products that involve Bitcoin are also expected to be launched in future, which will also have a positive effect on prices.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Bitcoin Is Rallying
The cryptocurrency market has been on a massive rebound since late July 2021. This rebound has led to an increase in cryptocurrency prices. Bitcoin is still taking the lead in the crypto charts. The gains made over the month have enabled BTC to rally to new all-time highs of over $66k. Earlier in the year, many investors wondered whether the rally that happened at the beginning of the year will resume again, it did, as you can see now with new all-time highs in October.
The BTC market is known for whale addresses. These are those traders who accumulate large BTC holdings of over 100 BTC. Despite the resistance BTC is facing across the broader market, prices have continued to increase and at the time of writing BItcoin sits comfortably above $60K, showing that these whale addresses are still holding on to their investments with hopes that prices will rise again.
When Bitcoin rallied in May, it reached a peak of around $63,500. At the time, this was BTC’s all-time high attributed to growing adoption. BTC broke this all-time high again and reached $68,789 on November 10th and could set new all-time highs in the future if the market continues with its bullish sentiment. Hence, those who want to invest in BTC now have a chance of making incredible gains.
A bullish rally is expected to commence in the coming months; hence, BTC could make more gains towards the end of the year.
Bitcoin Has A Great Support System
Bitcoin has a great support system from various players in the crypto space. Whilst Satoshi Nakamoto remains anonymous, other crypto enthusiasts who believe in Bitcoin have taken up the mantle and are leading BTC’s ecosystem to ensure that it can compete with the fast-changing blockchain sector.
Jack Dorsey, Twitter’s CEO, has been committed to ensuring that Bitcoin’s ecosystem remains competitive. Among the products that Dorsey is launching include a Bitcoin wallet and a Bitcoin decentralised exchange (DEX). Dorsey has always been vocal on Twitter about Bitcoin and has always shown support for the coin and supported arguments on why Bitcoin will still be the dominant cryptocurrency in future.
Another major Bitcoin supporter is Michael Saylor, MicroStrategy’s CEO. Saylor’s belief in BTC has seen his company accumulate more BTC holdings that have already earned impressive returns. Saylor recently analysed BTC, where he believed that prices would shoot to $100,000 by the end of the year. With such prominent individuals talking up the lead role to promote BTC, future price rallies will be experienced.
Check Out: Will Bitcoin (BTC) Make Me Rich?
Bitcoin Mining Crackdown Is Over
One of the main reasons that led to Bitcoin’s crash in May is the mining crackdown in China. After this crackdown, many BTC miners moved to overseas locations to greener energy and a friendlier regulatory framework. With many miners already setting up base, the Bitcoin mining hashrate has recovered, which is expected to affect BTC’s prices positively.
If Bitcoin mining taps fully into renewable energy, we could see major endorsements that could trigger a massive price rally. Tesla’s CEO, Elon Musk, stated that Tesla would resume accepting BTC payments if Bitcoin mining becomes environmentally friendly; hence, we could see major price gains if this happens in future.
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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
FAQs
Is it too late to buy Bitcoin now?
No, If you believe in the future of Bitcoin and read many analysts predictions that Bitcoin could exceed $100k in the future, then that would suggest it is not too late to Buy Bitcoin.
What will Bitcoin be worth in 2030?
The famous Winklevoss Twins suggested that Bitcoin could reach a value of $500k by 2030.
Is it safe to buy Bitcoin now?
Just like any other investment there is not guarantee you will make money, do your due diligence and feel confident about what you're investing your money before taking the plunge.
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What Will Bitcoin (BTC) Be Worth In 10 Years?
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