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“To Rush To The Last Train”: Is It Worth Buying Bitcoin Now?

Today, many nervously bite their elbows, because once Bitcoin could be bought for $0.0025. Is it worth investing in Bitcoin now that its rate exceeds $10,000?

Bitcoin as a long-term investment

During its existence, Bitcoin has undergone a profound transformation from a “fake” that was ridiculed by skeptics to an asset that could potentially compete with stocks and Gold. This is an unprecedented case in the financial market when an asset has “built up muscle” in such a short time and has come to be regarded as a full-fledged player on trading floors.

Over the past few years, institutional investors have become much more active in their interest in Bitcoin. Whereas earlier the cryptocurrency was viewed exclusively as a speculative asset, now many investors are ready to revise their portfolio and make room for Bitcoin. The turning point in assessing the significance of Bitcoin in the financial market was a big victory for the crypto industry.

Of course, Bitcoin’s market performance plays in its favor. Despite the fact that the flagship cryptocurrency has not yet been able to repeat its 2017 high and approach the $20,000 mark, Bitcoin has excelled in other market metrics. According to Glassnode, Bitcoin’s realized capitalization has grown by 60% compared to 2017. This indicator indicates an increase in the volume of the Bitcoin movement from one crypto-address to another.

Is it too late to buy Bitcoin?

2020 was supposed to be a landmark year for Bitcoin. Many analysts were looking forward to the third halving in May, after which, according to their forecasts, Bitcoin would enter a phase of a prolonged rally and reach a new price maximum. But the pandemic made its own adjustments and the 50% Bitcoin price crash on Black Thursday made it clear that the flagship crypto in 2020 will be incredibly difficult to repeat the record of $20,000.

Despite the collapse in prices in March, the pandemic still played a positive role in Bitcoin. The monetary policy of the United States, lower interest rates on loans have opened up the opportunity for investing in digital currency. “Oil on the fire” adds negativity to the stock market. Given the downward trend in share prices, many institutional investors are turning to buy Bitcoin as a reserve asset.

Today, the price of Bitcoin is literally “sandwiched” between $10,000 and $11,000. Experts from Econometrics see this consolidation as an opportunity to buy Bitcoin for long-term storage. They noted:

Even when the price of Bitcoin moves slowly, you can still benefit from the cryptocurrency. Altcoins are a great option to test your fate and jump into the big game.

So, if you didn’t buy Bitcoin for $1 in 2010, you can either take advantage of today’s “stagnant” flagship price or pay attention to altcoins.