No, you did not miss out on Bitcoin. Even despite costing $55,000, Bitcoin is on the rise. Many people reference the spike back in 2017, and say Bitcoin is destined to drop heavy from its previous high, noting the yearly charts both look very similar. However, I believe there is one major difference between Bitcoin in 2017, and Bitcoin in 2021: Real World Adoption.
In 2017, Bitcoin wasn’t much more than an easier way to hide your shady transactions. There was some crazy hype, but without any real substance to fuel hype, hype dies. Now, you can buy a Tesla with Bitcoin, make payments on Mastercard with Bitcoin, and pay for airline tickets with Bitcoin. There are professional athletes asking for part of their contracts in Bitcoin, such as NFL player Russell Okung.
Companies and athletes do not make these decisions for no reason, they believe in the purpose of Bitcoin. Transfer fees are dropping and real world adoption of the currency is growing, because moving Bitcoin from wallet to wallet is cheaper than ever. The potential is stacking up, don’t miss out!
Don’t Send the House
Now this is not a call to put the retirement fund fully into Bitcoin, or to take your tuition and leverage it in. There is still risks with Bitcoin, and you must to be able to handle its insane volatility. Although, the beauty of Bitcoin is you can buy the smallest fraction of one coin, literally .0000001 of a Bitcoin. This allows for easy scaling into Bitcoin, putting in a little amount of money each week and letting it scale up.
I was doing this over the summer when Bitcoin was between $10,000-$12,000, and now that money has gone up over 700% in 9 months. No amount of money is too little money, especially when it comes to Bitcoin. Be apart of the future, or get left in the past.
The Common Trader 