Bitcoin New All-Time High!
Update; Bitcoin has recently risen above 11,000 USD per Bitcoin momentarily. The value fell soon thereafter, but this new high still leads credence to an optimistic view of the Bitcoin's future.
Bitcoin has finally reached its new all-time high. Although there was talk that bitcoin would never get this far - here we are! This is a very exciting time, especially if one already has invested in bitcoin. At the moment, one bitcoin (BTC) ≈ 10,000 United States Dollars (USD). Let's put all of this into some perspective. When I began investing in bitcoin at the beginning of this month, 1 BTC ≈ 7,000 USD. In the course of a month, bitcoin has risen about 3,000 USD in value (an increase of about 43%).
This is huge. This all-time high not only indicates that bitcoin may be around much longer than many people have thought, but it also implies a possibility of continued increase. I cannot promise, by any means, that bitcoin will continue to go up in value. However, every indication seems to point to that potential future for the cryptocurrency.
I will, herein, state vehemently that any investment has its risks. I think that it wouyld be safe to state that the risks of bitcoin investing are a bit larger than many other alternative investments. But, if you had already been thinking about investing; please, do not be too discouraged that you did not invest sooner! Sure, the potential profits from investing in bitcoin will probably continue to decrease. Regardless, that doesn't mean that any new investments won't be worth it if bitcoin continues to increase in its value.
I will caution all of my readers; bitcoin is a new idea, that many people still do not understand - so there are currently many scams and fraudulent businesses out there. Whether someone emails you in a letter, stating that said someone is a Nigerian prince, or if someone offers "free" bitcoins - beware! Never give your personal information to a company that you do not trust. The only business that I currently use to buy cryptocurrencies (like bitcoin) and hold my currencies is Coinbase.
If any of you do decide to stick with Coinbase - be careful. I cannot promise that Coinbase will not eventually collapse, nor can I state that bad things will not happen to them in the future. I trust them more than most brokers, and that's about it. They are not paying me a penny for this either. I simply want my readers to consider one possible option if any of my readers do intend on purchasing bitcoin.
If anyone is still reading this article, then I would like to bring up some more items concerning Coinbase. Coinbase currently only deals with BTC, USD, Litecoin, and Ethereum. However, there has been a lot of talk about introducing new currencies onto their platform in the coming year. So, if you planned on buying Ripple coins, then Coinbase may not be the virtual wallet for you... yet. I personally suspect that Ripple coins will be sold on Coinbase in the near future, but that is just my own educated guess at best.
What is the best digital currency?
Okay, so maybe you don't want to invest in bitcoin just yet (and, maybe never). That is completely fine! Whatever you personally choose to do, this entire adventure doesn't stop from being very exciting! The potential relationship that bitcoin and other cryptocurrencies will have with the standard government issued currencies will be a very interesting show for all of us who are paying any attention. Will bitcoin inflation continue to slow down? Will bitcoins value continue to rise (even if its rise eventually slows)? I don't have all of the answers. If you have any ideas about this, please express these ideas in the comment section below. This is certainly a topic which we should be talking about.
What is even more fascinating, since I started writing this article; bitcoin has gone up more than 100 USD in value! For those of use who have already invested; that is incredible. Things like Bitcoin give me reason to be optimistic. I should now state, that one should be realistic as well as optimistic. I would personally never invest in something that I did not believe in, nor would I ever invest money that I could not afford to let go (potentially forever if there does happen to be one kind of collapse or another). I think that the mindset of the investor (such as my own just described) is incredibly important - even essential. Anyway, I would love to read your thoughts, understandings, and so on - concerning the matters of investments and cryptocurrencies. Please leave a comment, whether you agree or disagree with what I feel.
Will cryptocurrencies continue to rise in value?
I will now leave my readers with some final thoughts before you all go to the comment sections. I want to give you further warning; Bitcoin Cash (BCH) and Bitcoin Gold (BTG) are not the same as Bitcoin (BTC). These are three separate cryptocurrencies. I would posit that the naming of Bitcoin Cash and Bitcoin Gold was given for marketing purposes. And, it seems to have worked pretty well so far. Bitcoin Cash has risen to a high above 1,600 USD per coin, and Bitcoin Gold has gone above 340 USD per coin (that's a greater value per coin than Litecoin at present). All in all, it would seem that - whether or not the naming was indeed intended as a marketing tactic - BCH and BCG are doing fairly well in the cryptocurrency market. However, appearences can be deceiving - I recommend that you all do A LOT of homework on these matters before placing your money in any investment. Reading my article is a good place to start, but if you have a serious interest in cryptocurrency investments, then you should look at the numbers and watch news interviews for yourself. Be safe and take care guys.
© 2017 Alexander James Guckenberger