Should you invest in Bitcoin? Well, one thing is for sure, Bitcoin is surely worth considering.
And with BTC crossing $20K threshold in the year 2017, it is no wonder people consider it to be a bubble.
It also dropped to $5000 this year and is now constantly skyrocketing since.
Investors tend to stay away from cryptocurrency because of its extremely volatile market, but with high volatility comes amazing rise in the profit margins.
In less than 6 months, Bitcoin has given more than 1000% increment. For a lot of people, it is surely a bubble but to others, it is an amazing change to make fortune in the shortest time period.
However, when you see it in terms of economics, the demand and supply graph suggest that as supply rises, demand falls and as supply falls, demand increases. There is an inverse relationship.
There is demand because of short supply. And in terms of crypto, there will be just 21 million bitcoins mined.
So, the supply is limited for millionaires, which have built its demand.
According to The Next Bitcoin, people around the world don’t usually see Bitcoin as anything more than an investment.
But this mindset doesn’t go with those people who are being affected by economic depression.
For instance, Venezuela has a weaker fiat currency and almost the full country accepts cryptocurrency.
With the place being affected with an economic death spiral, more and more miners have entered the field.
So, here BTC holds more value than the fiat currency and enjoys great value in the minds of those suffering from economic crisis.
So, the answer to your question – will the Bitcoin bubble burst. No, it is going to be here for some time. It has a great future ahead and is worth considering as an investment.
Store it in your online wallet or offline wallet and keep it safe and in the coming time, it will give you marvellous returns.
Soon your blockchain game will go insane and people will not find too many Bitcoins to purchase.
So, go ahead and buy it now and the price will obviously go high again in the coming time.