If you witnessed Bitcoin’s dramatic surge and slump between 2019 and 2020, you might be wondering if it’s worthwhile investing in the altcoin today?
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Here’s a look at Bitcoin after the rise and fall, and rise, and it reveals some unique aspects to the blockchain tokens we know as Bitcoin.
As a snapshot summary of its trajectory to date, Bitcoin fell prey to market speculation and, at times, desperate greed.
There are still compelling reasons to buy Bitcoin, however, and here they are.
For one thing, Bitcoin was first.
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What that means is, although desperate investors rapidly built the bubble and treated the token like any other conventional asset (which it isn’t), Bitcoin garnered the world’s attention in the emergence of decentralized ledgers as a phenomenon.
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That’s a hard act to follow, and Bitcoin will remain emblematic of cryptocurrency’s value, no matter the abuse it’s suffered at the hands of the markets.
Bitcoin is also regaining its honest value, for the moment, at least in comparison to its bubbly previous spikes.
With that said, its real value has yet to emerge.
Never forget that as the first token in the limelight, Bitcoin’s journey on the back of uptake and legitimate use was derailed.
Now that some sanity has returned to an interest in the token, it’s plain to see that its real value is still coming and that the recent horrendous fawning over the altcoin was just a sideshow.
Bitcoin Has Tasted the Champagne, It’ll Be Back
With that being said, look at where it landed once upon a time!
The first time, now, it doesn’t matter which high point you pick.
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Very few assets ever hit such highs and never return to them, and that’s another solid platform for substantial future growth in Bitcoin’s value, growth that we in fact have seen over the last few months, where Bitcoin has surpassed all previous highs to reach above $60,000.
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Yes, its slumps are dramatic, but investors shouldn’t miss the fact that it is nonetheless an asset that has climbed from a few dollars to tens of thousands of dollars in value over two or three years.
Bitcoin is the penny stock investor’s dream come true, it really is.
There is erratic spiking and slumping in Bitcoin because of simplistic notions among investors about what the asset is, but boy oh boy, the linear background travel keeps going up in a way few assets can match.
That is a strong fundamental indicator of substantial growth to come.
Now that the dust has cleared, there is a more mature and adult contingent behind Bitcoin, and they have every reason to expect good legitimate gains in the near future.
Rampant speculation might have dimmed Bitcoin’s candle for a moment, but very often, those who profit handsomely are unashamed opportunists.
Put differently, get into Bitcoin! Smart investors don’t cry when Bitcoin plummets, and do you know why?
Because they seize the opportunity to pick up tokens at low prices, supremely confident that while all the scalpers and day traders are gnashing their teeth, they can see the tremendous gains to be had in the coming months.
No matter the asset, no matter the nature of market sentiment, we can safely say that boom and bust market realities are cyclic.
Not every asset suffers this fate, but those that do－and Bitcoin is a classic example－will return.
These things are cyclic.
If we can be sure of nothing else, that’s it.
Bitcoin might be suffering through a particularly heavy cycle of joy and woe for the greedy, but for the savvy, it’s a buy-and-hold asset that could double or even treble your 401(k) over the very near medium term, and that’s worth getting into.