In the ever-evolving world of financial technology, cryptocurrencies like Bitcoin continuously shape and redefine the investment landscape. The burning question that investors around the globe are asking is, “Should I invest in Bitcoin?”
Traders Union investigated this vital question to answer if investing in Bitcoin is safe. And so, immerse in the specifics and understand the critical importance of this subject for the cryptocurrency trading community.
What to expect if I invest $100 in Bitcoin today?
Considering the Traders Union’s forecast, investing $100 in Bitcoin today at $27,000 will own approximately 0.0037 BTC. If the forecast is accurate and the price of Bitcoin doubles to $54,000 by 2034, your initial $100 investment would then be worth approximately $200. Remember, though, that this is a prediction, and the actual outcome may vary due to the highly volatile nature of cryptocurrency markets.
Why investing in Bitcoin is a good idea
Traders Union highlights several key points regarding the viability of Bitcoin as an investment:
- Price correction: Bitcoin, now about 66% below its peak, is experiencing a typical crypto correction. This dip could be a buying opportunity as experts predict price stabilization around current levels.
- Institutional adoption: Bitcoin, initially met with skepticism, has gradually gained widespread acceptance. Its inclusion in many investment firms’ portfolios bolsters its credibility and guides retail investors’ actions.
- Lightning network success: Bitcoin’s transaction speed (around 4.6 transactions per second) is slower than Visa’s, but its average transaction cost ($1.43) is significantly lower.
- Store of value: Similar to gold, Bitcoin’s maximum supply of 21 million coins gives it a store of value, protecting against inflation. This has led to its nickname, “digital gold.”
- Halving cycle: Bitcoin mining rewards halve every 210,000 blocks, reducing Bitcoin supply. The next halving in 2024 will further lower supply, potentially driving prices higher if demand remains stable or increases.
- Bull cycle theory: Analysts observe Bitcoin price moving in cycles, with each bull run followed by a ‘crypto winter’ but not significantly breaching the previous cycle high.
- Benchmark status: Despite its volatility, Bitcoin is stable compared to other cryptocurrencies (excluding stable coins), earning it benchmark status in the crypto world.
Where to buy BTC?
TU understands that knowing where to purchase Bitcoin is as important as understanding its investment potential. As the pioneer and most well-known cryptocurrency, Bitcoin can be bought from various platforms, but two stand out.
Bybit, a standalone derivatives trading platform, launched in 2018, offers inverse and perpetual futures contracts with up to 1:200 leverage. It includes quarterly USD futures paired with multiple cryptocurrencies like BTC, ETH, XRP, EOS, and LTC. Technological features include mutual insurance against drastic price movements, offsets for positions, and market depth.
KuCoin is a versatile cryptocurrency exchange offering spot, margin, and futures trading across dozens of cryptocurrencies, including Bitcoin and Ethereum. It provides basic analytics, charts, and indicators with user-friendly web and mobile platforms. Users can fund their accounts via debit cards, cryptocurrency, or e-wallets. KuCoin also hosts unique contests and offers an affiliate program.
In addition to these exchanges, a variety of cryptocurrency brokers are available that offer alternative avenues for purchasing Bitcoin. With their intuitive platforms and extensive service offerings, these brokers cater to investors of all experience levels in the cryptocurrency realm.
Traders Union experts affirm that investing in Bitcoin can be beneficial, given its potential for high returns and growing acceptance. However, understanding its volatility and market trends is crucial. To acquire more insights on whether you should invest in Bitcoin, visit the Traders Union’s official website for a detailed review and guidance.
Disclaimer: This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of NewsBTC. NewsBTC does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.