If you’ve been keeping an eye on cryptocurrencies lately, then you may have noticed the wild fluctuations since Bitcoin reached its all-time high at the end of 2017. Bitcoin and the market, in general, have lost a lot of their value since then after waves and waves of panic selling. For some, this might be a confirmation of what they thought about cryptos and that they’re nothing but a fluke. But as the markets are stabilizing, others are seeing low prices as a good entry point to start investing. So, is now the right time to invest in crypto? You can click here to learn more about bitcoin statistics.
What are your Intentions?
The issue with crypto and why it has seen such wild swings lately is because of the nature of many late crypto investors. Many people turned into millionaires overnight, and it spurred a wave of speculation by every Tom, Dick, and Harry on the street. These people often had little to no experience in investing and were gambling on cryptos more or less.
But the thing with crypto is that you shouldn’t expect it to make you rich overnight. Those who were lucky to get in the markets years ago and managed to hold on to their assets were the ones who were able to profit. So, you should also be in for long-term gain.
And now that a lot of speculators are gone and the crash has been heavily publicized, this new wave of investors is bound to be more careful, and that’s a good thing. While we might not see 20X returns anytime soon, cryptos are much less likely to crash either, and we’re starting to see what their floor price could be, which is good for those who want to invest in them as a store of value and don’t want to see their assets lose half of their value overnight
If you want to know what the best entry point would be, however, it would be wise that you check a good crypto tracker and start studying historical and current price fluctuations. This will allow you to spot bullish and bearish trends and know when it’s the right time to jump.
Big Growth Potential
The crypto-verse can seem intimidating at first glance, with all the technical terms and the complexities of the technology behind it. Truly understanding cryptos demand that you have substantial IT knowledge, which could deter some people. In addition, simply investing and trading bitcoins can seem complex to some, from understanding how crypto wallets work, to buying cryptos on exchanges.
But that is actually a good thing. However, there are already keen investors who are realizing the potential and profitability of investing in the crypto market. Cryptocurrency risks and market volatility are also high so traders need to constantly stay updated to store their digital assets in the best and most secure way possible and understand the potential risks when it comes to transactions, trading, and storing.
The fact that crypto is so intimidating to some might actually give you an advantage. Jumping in early gives you more time to understand how technology and markets work. You’ll also benefit from the growth potential as the technology becomes more understood and accepted.
If you see cryptos as a way to overthrow the old financial system and get more autonomy from big government, then this could be a great opportunity for you. Humans have been accustomed to centralized power, whether in the form of companies, institutions, or government, and have been used to those having authority over them. But cryptos could be a way to give some of the power back to the people.
We could actually be at a crossroads in human history where monetary power will truly become decentralized and people will be able to make transactions without a third party being involved. Bitcoin, in particular, has banked on the ability of people of being able to transact with each other and become their own bank. This could truly be a game-changer and being at the forefront of this revolution is very exciting.
There’s really no telling where cryptos will be heading in the near future, but it’s almost impossible to imagine a world where cryptos wouldn’t exist. Now could be the time to start investing in crypto if you want to be one of the second waves of early investors and benefit from the potential return cryptos could offer as they become an actual alternative to our current monetary system.