Is bitcoin making a comeback in 2019 and should you invest in it?
It’s been quite a rollercoaster ride for (arguably) the world’s most well-known cryptocurrency.
Ever since it appeared on the scene, you might have seen Bitcoin go through controversial climbs and devastating crashes, instigating a whirlwind of emotional turbulence for investors around the world. Some may have even claimed that it could change the world of finance as well as whole industries, leaving millionaires in its wake.
Others (you may have heard to them) have lost hope in it, wasting hefty amounts of invested cash. For the rest of us, Bitcoin is probably still a mystery, a confusing and unpredictable tale. Now, however, Bitcoin appears to be making a comeback.
What just happened?
You might remember that, not too long ago, Bitcoin advocates slowly started to go silent, shaking in their boots and jumping off the bandwagon as the currency plummeted to frightening depths. Panic rippled through the scene. Investors lost money and Bitcoin mining rigs were let go at fire-sale prices.
Recently, after swinging wildly for a couple of weeks, Bitcoin made a surprising turn for the better, spiking suddenly back up to over $8,000 per Bitcoin, leaving onlookers in shock. Many traders had written Bitcoin off as an over-hyped delusion that died off as quickly as it made an appearance. Now, investor and trader fears that the recent Bitcoin bull may have finally run its course, appear to have been put to rest as the cryptocurrency makes a triumphant return.
However, volatility is still a very defining trait. Bitcoin is known for being one of the more fast-paced investment options out there and so, with this optimistic new outlook and a rejuvenated sense of confidence among traders, is Bitcoin good to go for investment?
Not for the faint-of-heart
There’s a varied range of types in the cryptocurrency sphere and, while Bitcoin may very well be the most popular, it's also one of the more volatile ones. Opportunities for a sudden surge of profit sit side by side with the potential to just crash and burn.
If you don't know what you're doing and don't care to learn or if you’re simply looking for something that's less intense, you may want to stay away from Bitcoin. Just as there are many people who may be wary (and doubtful) of this strange new currency’s potential for profit and for changing the world, there are those that see great value in it.
Regulations are better
If you have decided to look into Bitcoin, there’s good news. Regulations that deal with cryptocurrency have been reinforced. Setting ground rules for dealing with Bitcoin and creating structures in the form of guidelines, can all reduce uncertainty and provide a significant boost to prices as well as trading activities.
Safer from malicious intent
With tighter regulations, crypto scams and manipulative tactics related to cryptocurrency can be brought under control, increasing investment desirability. Now, new coins and investment schemes all have to abide by certain rules. Potential investors are less fearful about diving into cryptocurrency’s deep waters and a new, better foundation may truly be underway for the safety of future investments.
Blockchain adoption is stronger than ever
The underlying technology that enables cryptocurrency is blockchain. It doesn’t seem to have gone through the rollercoaster ride that Bitcoin went through and, in general, seems to be considered a legit piece of technological process that can benefit many industries (not just finance). A number of organisations contribute to research and studies related to blockchain. This may hint at the fact that blockchain (and as a result, cryptocurrencies) could become an integral part of the future of global business.
When it comes to whether or not one should or shouldn’t invest in Bitcoin, you may want to look at the situation with a clear and level head. Amid the optimism over Bitcoin’s recent resurgence, there’s still quite a bit of doubt and uncertainty about it. This may never go away but, either way, as long as potential investors are willing to do their own research, consult experienced professionals and proceed with caution, the possibility for massive returns is there. Get in touch with me and schedule a call to find out if a Bitcoin investment may be right for you!