Do you think it’s too late to invest in Bitcoin?

Below we will talk about the rise and rise of Bitcoin and how its perspective changed from “unstable investment” to becoming the go-to investment. And, see if you have missed the boat or if there is hope.

Performance of Bitcoin (Year-To-Date)

Same time last year Bitcoin was thriving from the trenches of the global market crash that was instigated by the Covid pandemic. It recovered from lows of $4,915 that it experienced in mid-March, and by April price had recovered to around $7,000 hitting $9,000 in the first week of May. All of us were quite unaware that Bitcoin was about to board one of the most epic bull runs, since the time of its commencement.

Before last year, Bitcoin reached an all-time high back in December 2017 and that was $19,783. Cut to a year later this milestone has tripled and the newest all-time was established at $64,863.10, on 14 April 2021.

Price Performance of Bitcoin throughout the (2021)

Bitcoins opened the year at an impressive $29,000 and thus began the winning streak. However, that was only the beginning.

January

Back in January, the price surged to a (then) record of $42,000 leading to a mass sell-off. However, in a matter of days, the price fell 26% to $31,000, scrapping an astounding $150 billion off the entire crypto market’s value. Good thing was that the downtrend did not last long, as the institutional investment wave that started back in late 2020 continued.

February

On the 8th of February, after the announcement of Tesla investing $1.5 billion in the market, Bitcoin again went on another wild ride hitting a new record of $47,573. But this was a two-way street, Tesla also got a taste of the Bitcoin effect, their stock rose to more than 2% just that morning.

March

After severe sell-offs and mild rallies, Bitcoin opened March trading at $46,472. During this month, wall street firms such as Morgan Stanley and Goldman Sachs increased their crypto product offering. At the same time, other big firms such as Fidelity filed Bitcoin ETF applications. After that, around the 14th of March, the cryptocurrency was trading at $61,243. Even after a subsequent sell-off, Bitcoin was up to 30%.

April

This month witnessed the first down for Bitcoin since September last year. At the same time, a dwindling market dominance level hasn’t been seen since 2017. However, this wasn’t going to stand in the way of another all-time high, Bitcoin reached $64,863.10 on 14 April. It was the same day that Coinbase went live with its stock market debut.

May

This month started with sideways trading around the upper $50,000 levels, but at the same time, it crashed below $50,000 due to the announcement from Tesla CEO, Elon Musk. He offered Bitcoin as a payment option back in February, but the offer was taken back because of the environmental impact (electricity usage relying on fossil fuels). Thus, the company could no longer accept it as a payment method.

After reading the article, do you think it is too late to invest in Bitcoin?

A short and sweet answer is, No. It is never too late. Even the dip presents a perfect opportunity to get in the market. Although the price you might pay for this may seem “high”, remember that the digital currency is divisible by 100 million. Thus, allowing anyone to buy a small portion as opposed to buying 1 full Bitcoin.

Another reason why you should invest in Bitcoin is that it circles around the fact that it has a limited supply. The way it was designed, there will only be 21 million coins generated, and presently 18.6 billion are in circulation (89%).

So, if you are planning to invest in Bitcoin, now is the time! Do thorough research and opt for the best cryptocurrency exchange in India and start investing.