If you are currently reading this wanting to know whether Bitcoin investment is profitable or not, then it means you are new to the crypto/bitcoin industry. Therefore, I will first go ahead and talk about what Bitcoin (BTC) is, what led to its creation, and then talk about its potential.
Foundation of Bitcoin (BTC)
Bitcoin (BTC) was founded back in 2009 when Satoshi Nakamoto introduced it to the public for the first time. The reason behind its foundation was to provide people with an alternative to traditional finance. On top of that, Bitcoin (BTC) was decentralized in nature, which meant that users did not have to share their personal/financial information in order to gain access to it.
This meant that Bitcoin (BTC) would demonstrate a lot of price and valuation in the coming years due to its nature and usability. However, the starting phase offered Bitcoin (BTC) only through the mining process, which was not an easy task to carry. Only people with an eye for technology we’re able to mine Bitcoin (BTC).
Bitcoin (BTC) Finally Gained Exchange Rate
After being launched in 2009, Bitcoin (BTC) had no value to it until cryptocurrency exchanges were formed starting in 2011. That was the first time Bitcoin (BTC) gained true value and price versus the United States Dollar (USD). Even at that point, Bitcoin (BTC) did not have much value to it and investors were reluctant to invest their money in it due to its volatility.
The First Price Spike for Bitcoin (BTC) Came in 2013
The first time Bitcoin (BTC) managed to gain the eye of the public was back in 2013 when it started experiencing a surge in terms of price and market capitalization. Although Bitcoin (BTC) experienced a price lower than $150 per BTC in the first three quarters of 2013, the fourth quarter surged in price. That is when the price of Bitcoin (BTC) crossed the $1k figure for the first time. This trend went on until the end of 2013 and then the price of Bitcoin (BTC) ran below $1k until 2017.
The Second Price Spike for Bitcoin (BTC) Came in 2017
The second time Bitcoin (BTC) gained even more attention of individual and mainstream institutional investors was towards the end of 2017. Towards the end of the particular year, Bitcoin (BTC) had crossed the $19k per BTC mark. This even helped Bitcoin (BTC) gain mainstream attention and recognition in the entire world. Unfortunately, this spike did not end well for Bitcoin (BTC) as it resulted in the worst plunge experienced by Bitcoin (BTC) in its entire history. After crossing the $19k per BTC figure, its prices fell below $5k per BTC by the beginning of 2018.
The Third Price Spike for Bitcoin (BTC) Came in 2020 and it is Here to Stay
The third and the latest Bitcoin (BTC) price rise was observed towards the end of 2020 when Bitcoin (BTC) hit an all-time high of $23k per BTC in December 2020. From that point onwards, Bitcoin’s price only went upwards and it went on hitting one after another all-time high. Although Bitcoin (BTC) is currently facing a demise in terms of price and market capitalization, still many believe BTC is set to make a comeback. When it does, it would do it with full force and go on to hit all-time highs.
Should You Invest in Bitcoin (BTC)
By now you must be thinking exactly what I am talking about. The answer is that Bitcoin (BTC) is the highest and most lucrative digital asset in the market. However, Bitcoin (BTC) is also a risky asset due to its volatile nature and non-physical existence. Therefore, it is completely up to your discretion whether you would like to invest in Bitcoin (BTC) or not. If you are worried about Bitcoin’s (BTC) current price dip, then you should know that Bitcoin (BTC) has always prevailed and has made a comeback with an all-time high price for particular periods.
In mid-April, Bitcoin (BTC) had managed to gain $64.7k per BTC price and a market capitalization close to $1.5 trillion. Now, the situation is under pressure as Bitcoin (BTC) is already below $1 trillion market capitalization and its price is at $37k per BTC. However, many analysts are confident that investing in Bitcoin (BTC) would prove to be extremely profitable. There are speculations that Bitcoin (BTC) would cross the $147k per BTC mark in the end of 2021. Therefore, you can give it a shot and see how the deal ends up for you.