Should I buy Bitcoin now or am I too late?
No you should not buy bitcoin.Now I know that everyone is saying “Bitcoin is still one of the best investments out there and it will reach $xx,xxx in two years”, but to be perfectly honest, Bitcoin doesn’t have much room for growth.Bitcoin is up almost 2,000% in the past year. This is an unheard of growth rate that even the most volatile of traditional investments don’t reach. Maybe in 5 years, but one year? This is something that doesn’t happen everyday.So say Bitcoin goes up another 2,000% next year. Then each bitcoin will be worth around $320,000(assuming a current price of around $16,000 per bitcoin).With each Bitcoin being worth $320,000 Bitcoin would have a total Market Capitalization of over $5,120,000,000,000. Yes that is 5.1 trillion US dollars. You would essentially need a large portion of the money in the world, across all countries, invested in bitcoin in order to achieve these kinds of numbers.Here's how much money there is in the world — and why you've never heard the exact numberBitcoin essentially is nearing it’s pinnacle. It might grow 100% or 200% more, which are still ridiculous growth statistics for any investment, however if you are hoping to put 1,000 bucks in Bitcoin and walk away with $200,000 you are out of luck, you missed your opportunity. The days of bitcoins unprecedented growth are over.Now that is my argument from a growth perspective. Now here it from a practical perspective:With the rise of bitcoin, there are now literally thousands of cryptocurrencies out there that are worth looking into. Many of them start by being listed on the website below, after which they have their ICO(initial coin offering), and eventually find their way to an exchange. Bitcoin is just the beginning of what cryptocurrencies are capable of, it isn’t the best cryptocurrency, it’s not the fastest, nor the most innovative. Bitcoin was the first cryptocurrency to gain prominence, it’s the first one people started hearing about, and so that’s why it’s price is so out of control.I’d like to think of Bitcoin as the Blackberry.
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