Is it Too Late to Invest in Bitcoin & Other Cryptocurrency?

published – Oct 30th 2023

What is cryptocurrency? I think it’s fair to say that one of the first cryptocurrencies to truly enter the public consciousness was Bitcoin (BTC).

But, what is Bitcoin and how does it work? This currency has been around for a while now. It has also been through a rollercoaster of different price changes over time.

You might be wondering if it’s still worth dipping your toe as an investor. Or have you simply just missed the boat? Examining previous market behavior can help us draw some conclusions on top of a few other factors.

I’m here to answer this burning question for you and also show you if it’s even worth looking into or not.

a bitcoin token slowly disappearing into thin air — image by Mohamed_hassan from pixabay

How often do people trade Bitcoin?

We’ve seen this cryptocurrency go from counterculture to mainstream (or close enough to it). It may not be “too late” to get in on the action because of this surge in popularity.

On average, there are currently just over 12,000 Bitcoin transactions every hour (bitinfocharts). This just goes to show how much interest there still is among traders. If people are still actively invested at this level then there is no reason why you can’t get in on the fun too.

History of Bitcoin Price

The first real gold rush came at the tail end of 2017 when the price rallied at an insane pace. This would obviously have been very profitable for buyers during this period. It then hit its first major peak in December of 2017.

Why is Bitcoin crashing after this point in time? Everybody began selling and the price just as suddenly dropped off. The price on the bitcoin chart settled at a point a little higher than where it had been previously.

The second big price increase came about three years later in October 2020. This boost lasted until March of the next year. It then dropped to about half the original movement and then peaked at roughly the same point again in November of 2021.

This created quite an uneven double-top chart pattern. Another gradual decline was on the horizon and it bottomed out in December 2022.

How much is Bitcoin worth now? Thus far, there has been a slow and steady increase where we find the current Bitcoin price today.

How did Bitcoin value during the COVID-19 pandemic?

Before 2017, it was valued relatively low and was simply just middling for a long time with the odd high. On the plus side, something valued fairly low had great potential to increase in price to a great degree.

Funnily enough, this is exactly what it did if you were paying attention during the COVID-19 pandemic. You would have been in an excellent position if you bought it at this modest price on the Bitcoin price chart.

Some traders view it as not only the most popular cryptocurrency but also the best cryptocurrency for this reason. One might have even become a Bitcoin billionaire from this movement.

Will Bitcoin go back up?

What will be the next big cryptocurrency? Will cryptocurrencies recover? Everybody is looking for the next cryptocurrency to explode.

How much is one Bitcoin worth at the moment? The answer? Judging by the previous cryptocurrency crash on the Bitcoin graph, not much.

If you were to buy Bitcoin right now then you are free to do so. Although, the likelihood is that you would be holding on to that investment and waiting a very long time for a positive return.

You have to understand that it will take a while before it reaches those previous highs again. Be warned that it may not even happen at all.

Some investment analysts estimate that the days of major Bitcoin growth are now over. Understanding risk of bubbles in cryptocurrencies is vital. The real cynics believe that most cryptocurrencies will crash to zero.

Although, these Bitcoin price predictions could very well be wrong (as they have been many times in the past). I’m skeptical that anyone can offer an accurate Bitcoin trading prediction no matter how experienced they are.

Bitcoin Volatility

Can Bitcoin make you money? In terms of popularity, it is a top cryptocurrency. Given these volatile swings, I see a few reasons why this might not also be the case in the coming years.

Certain investors believe this is why it will succeed again. However, there are also several obstacles in the way that might mean this won’t be the case. Nobody really knows what the future holds (not even me).

How to Buy Bitcoin with Different Investing Strategies

There are many techniques when examining how to use Bitcoin. The definition of “too late” in this case will hinge on your particular goals as an investor.

As you keep a keen eye on the Bitcoin ticker, bear in mind that a lot depends on if you are in it for the long or short term. Like anything else, traders will perform well or poorly over different time frames.

Thinking about where to buy Bitcoin? What is the best Bitcoin wallet? What is the best cryptocurrency app? If you are an absolute beginner then why not learn how to buy Bitcoin on Etoro or BlackBull?

There are also several other reputable platforms, brokers, and Bitcoin exchanges where you can set up a Bitcoin account. One can buy Bitcoin with credit cards and other payment methods.

Alternatively, buy Bitcoin with PayPal securely instead. This information will also help you if want to learn how to buy cryptocurrency of any kind.

Buy Bitcoin Online with Value Investing

Proponents of value investing view a lot of stocks as currently overpriced. They may prefer to invest their money elsewhere like in the cryptocurrency in question which they can now get cheap.

If you are a follower of value investing then you will probably warm to the idea of buying Bitcoin at a bargain price.

How to Sell Bitcoin with Short Trading

When looking at the charts, this cryptocurrency once appeared far more bullish than it currently is. Given Bitcoin’s impressive rise, some traders struggle to believe that it can now get any higher. Some fear that the significant bull runs have ended permanently.

Luckily, there is more than one way to make money with Bitcoin. If you genuinely don’t believe that it will rise in value then don’t worry. Like most other investments, you also have the option of shorting in the hope of it depreciating in value.

What is Bitcoin mining?

Is it possible to get free Bitcoin? If you are really interested in learning how to mine Bitcoin then it’s probably not too late.

How does Bitcoin mining work? Planning to perform any cryptocurrency mining is less time-dependent than the act of trading itself.

Although, there is far less to be mined than there once was. Out of the 21 million Bitcoins available, 19 million have already been mined. That’s over 90% mined with just under 10% left untouched.

In some circles, the estimated date when all Bitcoin will be fully mined is 2130. This level of scarcity may actually benefit the Bitcoin market. If something is rare then people will tend to want it more.

How do you mine Bitcoin? A good Bitcoin mining rig doesn’t come cheap so this won’t be as accessible to people without the right financial means. Budding Bitcoin miners will also need to consider Bitcoin mining software.

Regulations & Decentralization in the Cryptocurrency Market

What is Bitcoin? How does Bitcoin work? One of the big draws of cryptocurrency is its decentralized nature and lack of strict regulations. This is often referred to as DeFi (decentralized finance).

There is a strong desire for this among the investing community. Some believe that it is one of the main features that will keep this cryptocurrency afloat for the foreseeable future.

Are cryptocurrencies regulated by the SEC? Bitcoin is one of the most popular cryptocurrencies which puts a target on its back from regulators.

Government forces have recently taken more of an interest in cryptocurrency as it has gained more popularity. This could possibly be a bad omen as any enforced regulation may put a stranglehold on Bitcoin.

Can cryptocurrencies be used in money laundering? Can cryptocurrency be hacked or stolen? The lack of rules can sometimes invite Bitcoin scams conducted by cyber criminals so be extra cautious to avoid these.

You can help yourself by vetting companies for reviews and user testimonials. The harshest critics believe that Bitcoin is a Ponzi scheme or a pyramid scheme. Please don’t proceed if you are uncomfortable or unsure.

Banning Bitcoin

What is the future of cryptocurrency? Nations like China have actually banned cryptocurrencies altogether. Additionally, other countries and governments have shown indications that they may do the same. This will probably spell the end for Bitcoin if it were ever to fully come to pass worldwide.

Bitcoin Low Fees

Investors are charged considerably lower fees to trade Bitcoin as compared with other investments. Clearly, any trading fees will eat into your cryptocurrency wallet so you will be wise to avoid these if possible.

Understanding Cryptocurrency Inflation

Can cryptocurrency replace traditional currency? Unlike most other investment instruments, cryptocurrency is particularly resistant to inflation. As you can imagine, this is especially appealing to those hoping to make their money go further.

How user-friendly is Bitcoin trading?

The process of trading Bitcoin and other cryptocurrencies has been streamlined over the years. Therefore, it’s never been easier or more accessible for newcomers to jump in. Bitcoin is well known for faster transactions too.

How old is the Bitcoin cryptocurrency?

Many argue that this cryptocurrency is still very much in its infancy. For this reason, there may well be a brighter future on the horizon.

Who started Bitcoin? When did Bitcoin start? Who invented Bitcoin? I’m sure you have plenty of questions. The idea of cryptocurrency is still relatively fresh in the public’s mind.

This is still generally true even though it all kicked off in the late 2000s by the enigmatic Satoshi Nakamoto (over a decade ago). Albeit, some folk take the opposite view, believing that it’s “too late” to get into this because it’s not really new anymore.

However, you have to ponder this same thought about other established investments. For instance, stocks and shares have been around for several decades and you don’t see folks posing this question as much.

“If you haven’t used Bitcoin first-hand, you may not get the inherent advantage of a quicker appreciation and understanding of its potential. Seeing assets move swiftly without intermediaries is an eye-opening experience, and that is just a starting point.”
William Mougayar (Writer & Entrepreneur)

Shopping with Bitcoin for Beginners

Where is Bitcoin accepted? Is there a cryptocurrency shop near me? It is accepted as legal tender by certain vendors and shoppers around the world for e-commerce transactions.

Of course, this is for the purpose of buying or selling in everyday life. Believe it or not, there are Bitcoin ATM machines in certain locations too.

Many businesses and companies within the global economy are adopting the use of this cryptocurrency. It could very well be a positive sign that cryptocurrencies are here to stay.

Institutional Response to Investing in Cryptocurrency

Many famous traders and big investment firms now trade in Bitcoin. Once upon a time, this was thought to be impossible (or at least extremely unlikely). I believe there is even a Bitcoin ETF being offered. These companies include the likes of:

Furthermore, I know for a fact that Jack Dorsey (of Twitter fame) has always favored Bitcoin. He has also been a cheerleader for the cryptocurrency market in general.

Several household names that currently use or are planning on using the blockchain technology (that cryptocurrencies operate on) include:

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Environmental Concerns of Investing in Bitcoin

Climate change seems to be having an increasingly negative impact on the world. Cryptocurrencies aren’t exactly helping to tackle this. In fact, the crypto market is actively making things worse in a lot of cases.

For example, investments like cryptocurrencies need a high energy usage just to process. This is true for both normal transactions and Bitcoin mining.

On a yearly basis, Bitcoin transactions are said to use up more electricity than entire countries (such as Norway) consume.

The lack of environmental consideration can be seen as a turn-off for many. After all, it’s vital that we attempt to preserve the environment for future generations.

Does anyone have a negative opinion of Bitcoin?

What are the disadvantages of cryptocurrencies? Is Bitcoin worth it? Due to the current bearish environment, companies like the Elon Musk-run Tesla have made the decision to sell off a large portion of their Bitcoin positions.

When big companies make choices of this nature then others are also likely to follow suit. In addition, legendary investor Warren Buffet has a pretty negative opinion of cryptocurrency on the whole.

To demonstrate this further, I believe he once stated that he would refuse to buy all Bitcoin even if it was offered to him for as little as $25.

Are there any other negative Bitcoin news stories?

There are always going to be both positive and negative cryptocurrency news reports. The FTX scandal hasn’t really helped the case for any cryptocurrencies.

On top of this, NFTs have now plummeted in value when compared to their glory days. This can be seen as a concern as this investment also uses blockchain technology. Bitcoin may eventually see a similar fall from grace.

How to Diversify in Cryptocurrencies

Trading in cryptocurrencies like Bitcoin aids in the diversification of your portfolio. Having varied securities is very important in investing (as you probably already know).

Cryptocurrency has always been the dark horse of the investing world. Owning Bitcoin might actually help you when your other investments aren’t doing so well.

How does Bitcoin compare against other investments?

Cryptocurrency or stock market? Besides knowing how to trade Bitcoin, there are other roads you can take. However, many traders prefer cryptocurrencies as opposed to other investments.

As an example, bonds have not been performing very well for the past few years so people have looked at other instruments. You can measure contrasts and similarities more easily by using a Bitcoin calculator.

Is cryptocurrency a good investment?

How many cryptocurrencies are there? Are cryptocurrency and Bitcoin the same thing? What is the newest cryptocurrency? There are so many emerging rivalries in the crypto arena.

Sometimes it feels like there is a new cryptocurrency being introduced every other day. After all, some cryptocurrency prices may be more appetizing than others when surveying cryptocurrency charts.

For instance, some like to argue over Ethereum vs Bitcoin. Why not teach yourself how to invest in cryptocurrency? What is the cheapest cryptocurrency?

If you don’t fancy dealing with this investment then there are alternative types of cryptocurrency options out there. I have compiled a little cryptocurrency list of altcoins for your viewing pleasure:

There are even more fast growing cryptocurrencies that I haven’t mentioned with these examples so you may wish to do further research on that. Countless failed cryptocurrencies have come and gone so be warned.

infographic about bitcoin and cryptocurrency investing

Conclusion

Will Bitcoin become the money of the future? Can Bitcoin make you rich? Even if an investment is now considered old, there is usually still room to profit from potential price changes.

You should now have an idea of how to purchase Bitcoin. In fairness, you may have missed out on the dramatic growth at the start. On the other hand, that does not necessarily mark the end of the story.

Before you even think about pulling the trigger on your first Bitcoin trade, you need to do your homework. Educate yourself about speculative trading in general by reading as much as you can get your hands on.

Try to seek out some Bitcoin educational resources. You can learn a lot on an affordable basis by buying books about investing for a low price. If you do enough research I bet you will be able to school your pals on how many satoshis in a Bitcoin.

Are cryptocurrency gains taxable? One will also want to think about tax implications if you were to become financially successful at this. You can learn what others feel about upcoming Bitcoin prospects by checking out changelly and yadaontheblock.

Are you thinking about buying or selling Bitcoin and other cryptocurrencies? At what point do you personally believe it will be too late to invest in Bitcoin and why do you think that?

Please don’t forget to share this with your friends and like it on social media. You can subscribe to our newsletter and comment below too. Thanks for reading!

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