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Bitcoin’s Potential: Is It Still Worth to Give It a Shot?

With Bitcoin’s value skyrocketing by 118% over the past year, many are wondering if they have missed out the opportunity to buy Bitcoin or if there is still a chance to get in on the action. And to address this question we have to consider a couple of factors.

Understanding Bitcoin’s potential requires looking at its past performance, especially with its upcoming “halving” event. This event happens every four years and involves cutting the rewards for processing Bitcoin transactions in half. This is a deliberate move to control how much new Bitcoin enters the market. Historically, after each halving event, Bitcoin’s price has experienced significant surges, as seen in 2020, 2016, and 2012. Nonetheless, it is important to remark that the surge does not usually happen right away. There is often a bit of a lag, usually around 18 months, before the full impact of the halving kicks in. Therefore, as mentioned in previous posts, there might be a bit of a slowdown after the next halving on April 29.

Another factor to consider is the comparison between Bitcoin and gold. Gold has long been regarded as a safe haven asset during times of economic uncertainty or currency devaluation. In simple words, it acts like a backup plan for your money during tough times. Similarly, due to Bitcoin’s finite supply some to view it as a digital counterpart to gold, and often refer to it as the “digital gold”. The analogy lies in the fact that as time progresses, it becomes progressively harder to mine new Bitcoin, just like the diminishing availability of gold. Thus, despite Bitcoin’s speculative nature and its notable price volatility, its resemblance to gold suggests potential resilience against inflationary pressures. Furthermore, the growing adoption of Bitcoin by mainstream financial institutions adds to its credibility as a stable investment option.

So, is it too late to get into Bitcoin? That is a decision each investor must make based on their own research, risk tolerance, and investment goals. But, it is still worth noting that although it has had some wild ups and downs, over time, it has definitely increased significantly. Even if you bought at the worst possible times, you would still be making money today.

In the end, Bitcoin is not about trying to guess the perfect time to buy and sell. It is about believing in its long-term value, like digital gold that you hold onto for years. And with big changes on the horizon, like the upcoming halving event, the Bitcoin party might just be getting started. So, if you are thinking about joining in, now might be a good time to hop aboard.

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