Well, you should not go too far – it’s here. It’s Bitcoin.
Right now, Bitcoin updates its record high and seems to live its ultimate boom.
And if you think that it’s just words, what will you say about people who went straight to the facts?
Do you see this guy with his family?
Well, his name is Didi Taihuttu, and he sold his house, car, clothes, shoes, children’s toys, and almost all the stuff he had to invest in cryptocurrencies, particularly Bitcoin. For example, he put his luxury 200 m2 house on sale for 85 Bitcoin. His family moved to live in a campsite. So this is how far people can get.
However, his risk may bring amazing results.
Yesterday, Bitcoin added $600 per coin, and today, at the moment of writing, it added $200 per coin – that’s a 17% gain in only two days! And we speak about the cryptocurrency with the largest market capitalization – you would not expect such jumps.
At this point, the support comes from the news that the Bitcoin party can continue in China.
Let’s do a simple math – if Didi would have sold his house two days ago, he would earn $800 per each coin in two days. For 85 Bitcoin, that’s $68,000 – not bad.
You would say that $5600-$6000 is already too much, and it doesn’t make any sense to invest in Bitcoin. Well, I would say that Bitcoin may leave this year with $7000.
Here are more facts you should consider:
- – Bitcoin is the central cryptocurrency and it gets all the media attention.
- – If traditional financial institutions plan to intersect with cryptocurrencies, they consider Bitcoin in the first place. That is a solid fundamental support. No other cryptocoin would get the same portion of confidence.
- – Bitcoin is the only coin that is widely accepted as a form of payment by thousands of merchants.
Some would say that Bitcoin lost its market share from 90% a few years ago, to less than 50% today. However, it’s not only because other existing coins took Bitcoin’s share (such as Ethereum), it’s also because hundreds of new coins appeared – there are more than 1000 of cryptocurrencies, so Bitcoin will not keep with that 90% share level, but it’s still dominant.
There are many cryptocurrencies good for investment, but their path is always less certain than Bitcoin’s move because the latter is the most news driven.
Bitcoin is the only coin that gets so much media attention – trading on the news is the best approach since technical analysis might now always work!
From all the coins out there, Bitcoin has the most chances to go on no matter what, which is a great money-saving instrument besides its profit generating function. When making an investment, you should back your move with arguments and some confidence as well – and Bitcoin offers the most of it.
Still, despite all the benefits and potential of Bitcoin, the best move would be to invest in a portfolio of coins!