Many people missed out in investing in Bitcoins in 2009 when 1 btc was roughly equivalent to $1. Around October 2013 it was $133 , in 2016 it progressed from $300 to $2000 plus. Today 1 bitcoin is FREAKING $4200. We all in the Cryptoworld have surely heard of the Norwegian man who bought $27 worth of btc and forgot about it only to discover years later that the value had sky rocketed. Many people are asking is bitcoin still a good investment now that 1 Bitcoin is worth 4k plus or should we turn to other altcoins for long term investsment ??????????
The Hard fork has come and gone, and it seems that it only made Bitcoin more valuable. The fact is Bitcoin has a limited supply. There are only 21 million Bitcoin available of which a little more than half have been mined. This means that, as Bitcoin become more and more scarce, their value should increase as long as demand remains the same or increases also, and has you can see demand will always be on the rise because right now the global economy is transitioning quickly to an era of digital currency.
Bitcoin is now getting government recognition across the globe. Japan recently deemed Bitcoin a legal form of payment, driving the currency’s value to further heights, and making Japan the largest country in the Bitcoin industry. It’s rumoured that Russia is the next country considering recognising Bitcoin – investors predict Bitcoin rates will still further spike if this happens.
Bitcoin may be the first of the cryptocurrencies, and it may currently be the largest, but it is not the only one. Other digital currencies may learn from Bitcoin, write better codes, and take over the cryptocurrency market. Current competitors include Ethereum, a cryptocurrency that has also skyrocketed in value in the last year and now sits at a value of around $300.Dont forget our dear Steem coin, with more people buying, it will definitely rise in value. Right now 1 Steem is worth $1.13702392. with 239 million coins in circulation.
The future may be in cryptocurrencies, but not necessarily in Bitcoin – only time will tell but right now time is telling us that Bitcoin is still a good deal…who knows it might just hit $10k
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