Too Late to Buy Bitcoin?

Updated on December 14, 2017
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I Waited Too Long

I remember hearing a few excited investors talking about Bitcoin way back in 2009.

The cost of one bitcoin was 0.0001 USD. All the talk got me interested in the idea of electronic funds, so I started researching, and thought seriously about investing in the Cryptocurrency. However, it all seemed so confusing and Bitcoin was so new that I didn't have the confidence to use a credit card on an unfamiliar website. So, I let it go until just last year when Bitcoin was trading at $1,000.00.

Everyone was saying, "It's too late to invest now." Or, "I wish I had invested a few years ago." I personally don't think it's too late to invest now.

A Small Example of Bitcoin's Value Growth

Year
Number of Bitcoin
Value
June 2009
1 BTC
0.0001 USD
June 2010
1 BTC
0.07 USD
June 2011
1 BTC
15 USD
June 2012
1 BTC
7 USD
June 2013
1 BTC
100 USD
June 2014
1 BTC
600 USD
June 2015
1 BTC
220 USD

Jumps In Price

With each new jump in the price of Bitcoin, everyone was saying, "It's too late to invest now." Yet, the last two years have shown the greatest growth in the value of Bitcoin, and future projections are looking very promising.

In July–September 2016, the value of Bitcoin rose to betwen $600 - $630.

In January of 2017, bitcoin shot up to $750 — $920 and it continued to rise.

The current value of Bitcoin today, December, 9 - 2017 is $14,292.00 and is currently rising.

As you can see from the dramatic incline of the value of Bitcoin, it wasn't too late to invest. Not even if you waited until early this year to buy the cryptocurrency.

Several economic advisers believe that Bitcoin will still skyrocket.

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Other Cryptocurrencies

As most people know, there are several other cryptocurrencies to consider investing in. Litecoin, Ethereum, and Bitcoin Cash, are three electronic currencies that are rapidly growing in value.

Litecoin is said to be sort of the "silver," to Bitcoin's gold-like value. I personally believe that there is a good future in investing in Litecoin.

Here's How Cash Will Be Aboloished

Economic Crash And Bitcoin

There's been a lot of talk in recent years about a "looming, economic crash," and many believe that we are moving into becoming a cashless society.

Many believe that if the U.S. dollar crashes, Bitcoin and other cryptocurrencies will be the only source of value that isn't tied to the Federal Reserve or U.S. government. Although, there has been talk within the Federal Reserve about creating a fed controlled U.S. dollar based Cryptocurrency.

Currently, the popularity of Cryptocurrency is based on the idea that the banks, nor the government controls the funds that belong to us. I personally don't believe that a Federal Reserve Cryptocurrency will be anything like Bitcoin.

Invest Only What You Can Afford To Lose

If you are considering investing in any type of cryptocurrency, do a little research and make sure that you find a trusted and proven website to buy into Bitcoin, Litecoin, Ethereum, or any other electronic exchange.

When I first invested in Bitcoin, I was told to "invest only what you can afford to lose." Well, most of us can't afford to lose anything. However, I considered it to be worth a try so eight months ago, my initial investment was $300.00.

People have this idea that one has to purchase entire bitcoins at whatever the going price may be. That's simply not the case. A person can invest however much he or she can afford and still make nice profits.

I can say that my investment has been well worth it as I've more than doubled my initial investment. I'm not rich by any stretch, but I've certainly made some good gains.

I also decided to start investing in Litecoin, which was valued at $33.00 at the time. The value of Litecoin has more than tippled and is currently valued at $154.63, and is expected to rise even more.

Resources to Help New Cryptocurrency Investors

I've been doing the majority of my personal Cryptocurrency investing on Coinbase.

I've personally found the website to be trustworthy.

Bitcoin is a worldwide currency, and it's important to know the exact dollar amount that you are investing. It also puts a person's mind at ease to double-check the rates as the Bitcoin value numbers can be confusing at first.

(See the Links to Coinbase and the Crypto Converter, Below)

I personally do not believe that it's too late to invest in Cryptocurrency. Litecoin and Ethereum are still at relatively low prices. All three coins can be invested in at Coinbase.

I also recommend Blockchain to store any Bitcoin you might purchase in their secure wallets.


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      Betty A F 2 months ago

      Hi Dream On, I'm sorry I didn't see your question sooner. I haven't had much time to even write in the last month or so, and haven't even written any articles since early Dec. Bitcoin is easy to sell. With the drop that is currently taking place, I sold half of what I have in Bitcoin and put it aside for when it hits bottom. I sold it instantly through Coinbase. The site also has a USD wallet, where you can store cash between sales, or you can transfer it back to your own bank.

      It's dropping now, and it has dropped several times since 2013, but it always goes back up, and I'm expecting the same to happen with this drop. This could be a big opportunity to buy low, (once it hits bottom.)

    • DREAM ON profile image

      DREAM ON 2 months ago

      I have heard of Bitcoin but never knew what it really was or how it works. I heard it is hard to sell once you have it is it true? Thank you for a real informative hub and good luck with all your future investing.

    • k@ri profile image

      Kari Poulsen 4 months ago from Ohio

      This is a good idea. I remember when Bitcoin first came out also. I'm amazed at how far it's risen. Good Luck!

    • Annkf profile image
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      Betty A F 4 months ago from Florida

      Thank you John Wolfgang, reading your article now. :)

    • John Wolfgang profile image

      John Wolfgang 4 months ago from Europe

      Great article! I recently finished an article highlighting why Litecoin is currently the better choice for investors (on my page).

      Check it out and let me know what you think!

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