Is it too late to buy Bitcoin and make money from the decision? Is it time to get out of the cryptocurrency game and look for new investments, or is new life just waiting to breathe into Bitcoin prices? These are the questions many are asking in 2019, both neophytes to the cryptocurrency world and experienced crypto owners.
As with any investment product, there are a lot of questions and never any certain answers. If you’re looking for a no-risk, sure-fire investment, you’re going to be stuck with low-returns bonds for the rest of your life, and you’ll never get ahead.
At the end of the day, you should be investing in companies and technology that you believe in. And blockchain technology is only in its earliest days. As the cryptocurrency making blockchain technology mainstream, there’s also mounting evidence that Bitcoin will soon see its renaissance.
Without further ado, here are some of the top reasons you should get ready to HODL in 2019.
#1 Bitcoin Is the Next Phase in Digital Payments
Even before Bitcoin was taking over headlines, people were talking about the inevitability of a cashless society developing in advanced economies. The use of paper currency is already down. Think about the last time you paid cash for anything that cost more than $50 – was the person at the register surprised? Only a few years ago, Denmark made it legal for shops to ban paper money payments, as some merchants found it burdensome – and unnecessary – to keep a float.
With Visa and PayPal rapidly replacing cash, many see Bitcoin as the next logical extension. While PayPal and Visa transactions represent digital information, as the first digital currency, Bitcoin is the next solution. And with mobile storage available on smartphones (of which there are now 2.5 billion in the world), you already have a wallet in your pocket.
#2 Institutional Money Is Entering the Playing Field
If you read about Bitcoin, you’ve no doubt heard about how institutional money is getting into the game. With Bitcoin futures trading finally appearing on major world stock exchanges like the NYSE and the London Stock Exchange, as well as investment firms like Fidelity launching Fidelity Digital Assets getting into cryptocurrency, there’s just going to be a lot more money pouring into crypto.
Institutional finance getting into the crypto investment game is also going to profoundly change Bitcoin’s reputation. While it’s won over many who were previously skeptical or different, the majority are still wary of Bitcoin. Institutional money may finally change that.
#3 Scarcity Remains a Factor
Bitcoin remains a scarce asset. Its coin release rate is much slower than altcoins like Litecoin, and as of 2019, there are more cryptocurrency exchange users than there are Bitcoins. Increasingly, the crypto markets will be dominated by fractional trading.