I have been investing in cryptocurrency with the guys at Prescott Regency for just under 2 years now and it has served me very well. It is strange actually because when I first invested in crypto, I was simply looking to diversify my portfolio and I honestly wasn’t sure if this was a good idea. Despite my apprehension, as soon as I started to see the prices rising a little, I decided to double down on my investment and since then, things have gotten pretty crazy. I am often asked by my friends to explain what cryptocurrency is or whether they should invest in it and the answer is always a solid yes. If you have been looking into cryptocurrency and you are unsure whether or not to invest, here is why you should.
Awareness and Acceptance
Digital currencies such as Bitcoin were once seen as something which was a nice idea in thirty but one that would never reach the heights that the creator had hoped for. The people who said this could not have been more wrong and right now there are investors all over the world who are looking to get involved in cryptocurrency. It is not only awareness that has improved, but the number of places which now accept cryptocurrency has also changed dramatically. The currency used to just exist on the dark web and now it is being encouraged and accepted by governments such as the Japanese. All of this means higher demand and given that supply is limited, get involved whilst you can.
As mentioned before, there are limits to how much currency exists in the world and this gives us a great understanding of how the price may rise and fall. Take Bitcoin for example, a currency which has gone from $40 each to over $5000. We know that there are still almost 50% of Bitcoins left to be mined, but we also know that the algorithms to mine them are also getting harder. This means that we’ll see less Bitcoins coming into the market like before and with many people looking to buy them, we will see demand outstrip supply which is business 101 when it comes to the consequence, rising prices.
Many financial analysts have predicted amazing things for cryptocurrencies such as Epherium, Lytecoin and Bitcoin. In fact, the very same analysts who predicted that Bitcoin would reach the $5000 mark in 2017 have predicted that the cost could rise as high as $100,000 in less than 10 years. Even if these predictions should fall short of the mark, the fact that everyone is predicting growth is a great sign for anyone who is looking to invest in these currencies.
If you don’t understand what cryptocurrencies are all about then I would suggest that you invest some time on research because these are hot property right now and the sooner that you start investing, the better chance you will have of winning big.