Investing in online currencies is something that many people have been hesitant to do in the last decade. However, with trying times ahead for several economies, there are many reasons that you should be investing in Bitcoins and other online currency. In this article, we will be looking into why bitcoin is a positive investment in these trying times.
High Return Of Investment
One of the biggest reasons for so many people to invest in Bitcoin and other cryptocurrencies is the high return of investment that you receive from your investment. Though the market is everchanging, in troubling times, this often proves more stable as a long-term asset. Whether this is in terms of the global economy and exchange rates, or in terms of the overall price of the currency, many have found that cryptocurrencies are much more likely to hold onto their value over a prolonged period of time.
The Development Of Technologies
In addition to them being a somewhat stable investment, the development of more secure deposit methods as well as its implementation in everyday life have made them a worthwhile investment. With many people using Ai and other technology to revolutionise their bitcoin trading strategy, this has made them a popular investment, particularly for millennials and younger age groups. This is changing many social behaviours surrounding finances and is also paving the way for new and emerging financial technology to change the way that many monitor their income in a number of sectors.
The Effect Of Covid-19 On Cryptocurrency
The effects of coronavirus on the global stock markets have been monumental with some of the biggest financial drops in recent history. But with many seeing this as a safe haven investment a number of people were shocked to see the initial drop in the value of bitcoin. However, it is positive news for bitcoin evangelists as the price of the currency has clawed back over 40% of its value in the last few days. This resilience in times of uncertainty is what makes this a stable investment for many during troubled times.
The Effects Of Bitcoin Halving
Bitcoin halving takes place every four years and has proven to show an increase in the value of bitcoin every time. When this took place in May 2012 a year later in 2013, Bitcoin reached an all-time high. When the second halving took place in 2016 bitcoin surged to a $20,000 all-time high in December of 2017. This is promising for the currency as they could reach an all-time high as a result of the bitcoin halving taking place in 2020. However, with this ongoing uncertainty, only time will tell how effective this will be in revitalising the price of Bitcoin following this slight setback.
Whether you are new to investing in Bitcoin or you are experienced in Bitcoin trading, there are a number of reasons why you should invest in alternative currencies such as Bitcoin during this time of uncertainty. Where will you start?