You’re definitely not too late to buy Bitcoin. There are so many exchanges that can help you with this and that are working hard to offer their clients all the necessary conditions to purchase Bitcoin and other cryptocurrencies.
Now, if you mean to make a profit from Bitcoin, it depends. At the time this is being written, Bitcoin is fluctuating at around $17,500. This is after dropping from a peak of above $20k a few days ago.
It seems as though Bitcoin demonstrates a short-term correction given the fact that CME futures exchange launched Bitcoin futures on Monday (Dec 18). Investors can now short Bitcoin, suggesting that they can start bearish trends. As a consequence, Bitcoin’s uptrend won’t be so categorical anymore, as it has been since the beginning of 2017.
However, even if institutional investors can go short and pull the price down, it doesn’t necessarily mean that we will see a long-term decline with no chances for return. In fact, some experts expect Bitcoin to hit $1 trillion market cap. Considering the fact that today’s market cap of BTC is around $300 billion, it means that we may see Bitcoin quotation reach $60,000 in the next year.
Some experts go even further. Standpoint Research founder Ronnie Moas expects a 500% growth in BTC price.
He told CNBC:
“Bitcoin is already up 500 percent since I recommended it in the beginning of July, and I’m looking for another 500 percent move from here.”
“The end-game on Bitcoin is that it will hit $300,000 to $400,000 in my opinion, and it will be the most valuable currency in the world,” he added.
It may seem fantastic today, but if someone would have told you back in September that Bitcoin would reach $20,000 by 2018, you wouldn’t really believe. And even if you would believe, it would be hard to visualize it.
To conclude, it is not too late to invest in Bitcoin, especially when it shows a short-term correction, but you should never invest more than you can afford.