Navigating the world of stock trading, forex and investments, in general, can be a pretty challenging world to be in. But with the right kind of support, a level head and understanding of the longer-term strategy, you can build up a solid portfolio, capitalize on the ebbs and flows and turn a profit.
But what about Bitcoin? And cryptocurrencies in general? One of the most common things you'll hear someone say is how they wished they'd invested back in 2017 and cashed out. This gives the false assumption that there is no other time that buying some Bitcoin would benefit you.
In reality, you don't buy-in for instant cash out. And if you've been paying attention to the market: cryptocurrencies carry a lot of potential as yet untapped. So here, for those that are hesitant about investing in crypto, here's why you should.
Bitcoin, in particular, has gained a reputation as being a spiritual successor to the popularly known and held precious metal - Gold. According to research conducted by GreyScale this year, more than 63 percent of people buying Bitcoin consider it to be a viable alternative to Gold, and plan to invest in it for the long haul.
This raises the question of why? Particularly if you're unfamiliar with why people bought Gold in the past. It's quite simple really: it serves/served as an effective hedge against an often unpredictable, volatile stock market.
Cryptocurrencies have managed to earn this reputation by demonstrating the same kinds of characteristics. We need only look at financial crises in the past, including the meltdown in Cyprus, which resulted in a huge uptick in Bitcoin investment. More recently, we saw this with the US-China trade war, which allowed Bitcoin to surge by more than 47%.
The whole method of investing is slowly becoming more proletarianised, meaning that it's becoming a lot easier to buy shares. Even though this is steadily happening, there is no more accessible investment than cryptocurrencies.
There are a large number of crypto exchanges out there that potential investors can sign into with relative ease. Meaning that cryptocurrencies can easily be included in your existing or brand new portfolio in a way that conventional stocks and shares haven't managed to catch up with yet.
While the date that most quickly comes to mind for people that have a tenuous understanding of Bitcoin is that 2017 was 'the' year for investing in Cryptocurrencies in general. The truth is that it's yet to hit its stride.
According to research by GreyScale and observations by CNBC, there are far more institutional investors that are willing to recommend investors have Bitcoin within their portfolio. This increased level of institutional interest demonstrates something that wasn't seen from other bullish runs in the crypto world.
What this means is that any growth that cryptocurrencies experience in the next few years are much more likely to be sustained and more stable. So while others resolve themselves to investing in retrospect, buying now can net you some impressive returns for holding it for anywhere from 1 to 10 years.
Got any ideas for specific cryptocurrencies that you'd recommend? Let us know!