Bitcoin is a revolutionary digital currency that has gained immense popularity. Unlike traditional currencies controlled by the central bank, BTC is embedded in a decentralized peer-to-peer network that allows users to transfer funds safely and without intermediaries.
However, despite Bitcoin’s popularity, it has remained volatile over the years, and traders continue to wonder if Bitcoin is a good investment now. In this article, we’ll take an in-depth look at Bitcoin’s performance over the years to help you determine if it is a good investment now.
We’ll also explore the best cryptocurrencies to buy that’ll make a good investment for traders like D2T, IMPT, RIA, and TAMA. So on that note, let’s dive in.
Is Bitcoin a Good Investment? An Overview
To determine if Bitcoin is a good investment, you must consider its performance over the years. This crypto pride itself as the most decentralized coin in the crypto market. It is also beginning to gain traction as Bitcoin gold. This is because of its fixed supply and immutable nature.
This means governments do not have a say in how it operates and how you can use the coin. This also makes BTC resilient against fraud and manipulation since its value isn’t dependent on any organization.
There’s a total supply of 21 million BTC in circulation, which differs from fiat currencies that banks and governments can inflate at will. So it is distinctive and a form of monetary freedom. But even with such fundamentals, one has to wonder if Bitcoin is still a smart crypto investment.
Before purchasing crypto, it’s essential to know its past price action. This would give you a better idea of its performance in the future. For example, Bitcoin officially launched in 2009 and traded at $0 for most of the year until July 2010, when the team sold it for $0.0008. By August 2010, it was sold for $0.08.
It began to make global headlines in 2017 when it reached an all-time high of $20,000…
