Is Bitcoin Already Too Expensive Today?
I read one article from a Binance post the other day that poses a similar question. If for example, you are just trying to put your money or a friend is asking if they will start buying and investing with Bitcoin, is it too late now? What if Bitcoin already took off and no more opportunity left for latecomers?
With the current surges of prices; year to date Bitcoin already increased by 60%., now the big question that may cross everyone's mind is that is it too late for us to get involved or buy and hold a Bitcoin?
However, if we take a closer look at Bitcoin's pre-programmed deflationary mechanism along with other macroeconomics. You can still say that it is still early part of the game. You and I can still make money with Bitcoin even we just conservatively put some of our savings to this cryptocurrency.
Bitcoin’s total market cap is approximately $220 billion with an all-time high was over $800 billion in the peak of 2017. In contrast, all Gold existing worth $12 trillion (55x Bitcoin’s), while the stock market value is roughly $100 trillion. From the image above you can see the size potential of how Bitcoin can still grow.
Just by applying the basic theory of supply and demand. Instead of having an unlimited supply, Bitcoin has a pre-programmed number of coins ever to exist – 21 million.
Moreover, Bitcoin doesn’t rely on central authority (like a government or a central bank). Bitcoin’s supply actually decreases over time, which ultimately reduces the inflation rates. When you factor in the decreasing supply due to the halving, the thought of buying Bitcoin seems like a bargain today.
So the next time, a family or friend is asking you, if it is still a good time to buy Bitcoin today? The answer is a resounding YES!
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Everything is so uncertain in the world of cryptomontages, that it is complex and even risky to give a resounding yes.
But I, as a believer in cryptography, have faith that it will continue to increase in value, with slight setbacks in its price.
People do not understand that this is a long-term project, it is not just about having to earn and get rich overnight, there are other things implicit in all this, you have to see beyond
Yes, you are right it depends on one's belief system if it is a resounding yes or not.
I actually always think it is late to begin to think about investing in bitcon at this point since the price appears to be high already but your post has made me see it from a different dimension which is worthy of note.
Thank you for reading... happy hodling! :)
@tipu curate
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