Is Bitcoin Still a Good Investment? Here's What Experts Have to Say
The trend of trading in cryptocurrency, especially Bitcoin is upsurging even in the younger generations. Everyone is inclined towards making digital investments. People are learning online about the basics, consequences, how, and in which currency to invest. Bitcoin is a kind of digital currency—the first decentralized cryptocurrency that uses blockchain technology for securing payments. Not just experts but regular people are also inclined to invest their hard-earned money in Bitcoin. Its value has shot up a lot, but is it worth investing in Bitcoin? Let's dig deep into what Bitcoin has for the public, and why are so many people talking about investing their money in Bitcoin.
Bitcoin Touched Peak This 2023
In 2022, the biggest cryptocurrency exchange, FTX had a huge issue that affected Bitcoin's value. The year started with Bitcoin trading at just $16,000 which was a shock as in 2021 it traded at $60,000—the year it became popular. But by mid-2022, things started to get better as investors were positive that a special type of investment fund for Bitcoin, called a Bitcoin exchange-traded fund (ETF), would get approval from the SEC which would result in increased Bitcoin trading.
Finally, the wait was over, and on 10th January the revelation of 11 new tradable Bitcoin ETFs was made turning Bitcoin investors rich. Following this decision and the trading, the price of Bitcoin rose by 155% in 2023 which proved to be the most happy year for investors.
Several money experts feel that this opened a new era and have listed a variety of investment options. The introduction of new Bitcoin ETFs is making the investment process simple and especially people who are more inclined towards investing in stocks can also enter the world of cryptocurrency. Buying Bitcoin has been made easy and now investors do not have to maintain a separate account for their cryptocurrencies which makes the process hassle-free.
Matthew Sigel from VanEck feels that this step will soon enter the investment plans of big institutional clients and can also be treated as a security. The experts say that the public must now get ready for more cryptocurrency ETFs in the coming years but the complexity of fund management might vary.
Is Cryptocurrency a Wise Investment Option?
The rapid changes happening in the world of cryptocurrency are making people wonder whether is it real or just based on speculations especially with Bitcoin pricing going up fast. Stephane Ouellete, the founder and CEO of FRNT Financial, shared that he feels the changes in the crypto world are all a bit like guessing. The trade doesn't see such massive fluctuations in the stock market but in the world of cryptocurrency, it's pretty normal.
Money experts like Stephane and others believe that Bitcoin has the potential to become the most valuable asset over time and will change the way people pay for things in some countries. They further share their opinion that blockchain technology is about to become a significant part of the US economy. But this does not mean that you should rush and invest all your savings in crypto.
Brian Vendig's expert opinion suggests that if you're thinking of making crypto investments the first question you need to ask yourself is "Why do you want to do it"? This implies that you have to make your investment goals and move according to them. He further suggests that if people are investing in crypto they should start by investing small, say 1%, and not move up more than 5% as cryptocurrencies are pretty volatile. The key to enjoying the profits in crypto is to not rush into investments and keep them small.
