The price of Bitcoin according to the latest bitcoin news is US$62,876.67 The circulating supply of 19.75 M BTC and a maximum of 21 M BTC is recorded. The current condition of BTC today is fluctuating, but it constantly ranks as number 1. Although the current condition of Bitcoin is down, no ongoing event has traced its downfall. The Bitcoin network remained competitive and it has been used widely online.
Is now a good time to invest in Bitcoin?
Many have said crypto is volatile, but the current market conditions favored anyone considering purchasing Bitcoin. It is an asset to buy at your own risk. While BTC has the potential for essential returns, you may lose most of the investment you placed. There are risks associated with investing in cryptocurrency, such as:
- loss of capital
- government regulations
- fraud
- hacks
Can crypto become the new global currency?
All the excitement has been existing around crypto and many backers touted the prospect of becoming the global currency. Many governments are still arguing whether cryptocurrency will be accepted as the global currency. But, if you check on the current market about currencies, cryptocurrencies become a global currency or universal currency. This is because people buy and sell online that reaches products and services worldwide.
In this situation, there is no other way to pay for the products or services conveniently, but only online. Although some people pay real money through their online payment methods, there are still people who invest in cryptocurrencies. Cryptos are growing in popularity and widely invested, people use them by looking for something to buy online through digital currency.
A global currency is very liquid and deep, and nothing competes with the USD. Money is a regulated and controlled asset. This year, the wide reach of cryptocurrencies has made this a universal currency making these investors convinced to land into this venture.
Is Bitcoin a long-term investment?
Widespread adoption is needed for cryptocurrency to gain long-term value and face huge headwinds. The underlying technology of the blockchain has practicality and innovation until decoupled from the currency without regulation. But, more speculative investors want to take the chance on it. The investors might or not see the short-term payoff, but it is not to say the right cryptocurrency would not bring them profits in the long run.
With all the information mentioned here, you can decide whether to invest or not in this global currency, although not yet mandated.
