10 reasons to buy bitcoin
Attitudes toward bitcoin and cryptocurrencies have divided humanity into two camps. The first are skeptical about digital assets, calling them a financial pyramid, a soap bubble, the biggest fraud, etc. The latter stubbornly believe that cryptocurrencies are the future and soon the whole world will switch to payments exclusively in crypto.
The drop in bitcoin from $20,000 to almost $3,000 in just one year has slightly diminished the ranks of the latter. So is it worth buying bitcoin at all? It is worth it, experts say. And here's why.
Reason #1. Bitcoin is reliable
Lack of reliability and security are problems that many altcoins have from time to time. Bitcoin is a different story. The last time the Bitcoin network collapsed, there were problems in 2013, but in just a couple of hours it was restored and there have been no more problems to date.
Reason #2. BTC exchange rate can be considered fair
At the end of 2017, the bitcoin exchange rate met the $20,000 mark. This was followed by a deep correction, as a result of which the price of BTC fell by almost 80%. Even now. BTC/USD pair demonstrates a growth and then a declinein search of its just course.
Reason #3. Bitcoin uses the Lightning Network payment protocol
The Lightning Network payment protocol used by the Bitcoin network solves the Bitcoin scaling problem and also enables instant transactions without intermediaries with low fees.
Reason #4. Bitcoin is no longer a gimmick
In a short time, bitcoin has gained crazy popularity. Its rate and prospects have been commented on by the most famous personalities of the financial world, and big investors are investing large sums in it.
The popularity has led to the widespread use of bitcoin, and there are many places around the world that say "Bitcoin accepted here.
Reason #5. Investors will increase their investments in bitcoin
It is worth stating right away that we are talking about the so-called biktoin-ETFs, that is, in simple words, shares based on bitcoin. At the moment, the project proposed by the Winklevoss brothers has not received the approval of the U.S. Securities and Exchange Commission (SEC) due to the lack of the necessary legal framework. Nevertheless, the work in this direction has not stopped, and the spread of bitcoin-ETF is not far off. This will attract capital from institutional investors and contribute to the stability and mass acceptance of bitcoin.
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Reason #6. The global economy will slow down
IMF experts worsened their forecast on the growth rate of the global economy in 2019. Trade wars, falling oil prices and other factors will accelerate inflation, forcing capital to flow from national currencies to cryptocurrencies.
Are there any cryptocurrencies in your anti-crisis portfolio?
Reason #7. Bitcoin supply is limited
As you probably know, the number of all possible bitcoins is not infinite - there will be 21 million BTC in total. At the moment about 80% bitcoins have already been issued, and the last coin will be mined in 2040. It is quite natural that the limited issuance will play into the growth of the BTC exchange rate.
Reason #8. No one can abolish bitcoin
The decentralization underlying bitcoin makes it impossible for government authorities and others to devalue the cryptocurrency.
Reason #9. Bitcoin is anonymous
Efforts to improve member privacy are ongoing on the Bitcoin network. This attracts more and more new customers, expanding the network.
Reason #10. Bitcoin price will rise anyway
As we know, the structure of markets is cyclical. And, despite the fact that the cryptocurrency market is now in a bearish phase, the end of which is quite difficult to predict, sooner or later there will come a bullish phase, when the BTC rate will resume its growth.
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