Why to invest in Bitcoin
Bitcoin is hitting all-time high prices – so are there still good reasons to buy Bitcoin in 2021?
If you look back through bitcoins history you will see in 2017 that the crypto currency had hit an all-time high of $20,000. This however didn’t last quite long as in 2018 Bitcoin lost over 70 percent of its value, dropping from $14,000 on January 1st to below $4,000 to close the year.
Bitcoin started recovering again in 2020 but when the pandemic hit, the cryptocurrency also took a hit by hitting a low of $4000, a drop of more than 50% as investors in all markets went to cash as the reality of the pandemic set in. However all was not lost as the vaccines are being distributed now, the stock markets are back and Bitcoin finished 2020 at a record high price of $29,388.
Now as to why you should invest in Bitcoin now. According to the most recent JP Morgan report they say:
“Alternative ‘currencies’ such as Bitcoin have been the main beneficiaries of the pandemic in relative terms growing their assets (for investment purposes) by 227%, respectively,”
This shows that not only is Bitcoin catching the people’s eye but it is has drawn the attention of several individual and institutional investors globally. Many companies have now started showing interest in the digital asset by setting aside their funds to acquire Bitcoin.
With more and more people investing, the price will only keep going up and up.
According to multiple reports all major cryptocurrencies will increase in value over the next 5-10 years. The predicted price of bitcoin will exceed $650,000 before 2030. This means if you were to invest in Bitcoin now you would make 22 times your initial investment in the next 10 years.
Full report here JP Morgan report