According to financial experts, cryptocurrencies are the hottest topic in the world right now. At the beginning of 2024, the value of Bitcoin exploded and reached the unbelievable price point, or almost its full capacity – as some may say. While Bitcoin investors enjoy the convenience of owning this cryptocurrency and invest more in mining and trading, they also begin to think about investing in other cryptos, and they are more and more interested in diversifying their assets and creating a great and versatile digital currency portfolio. On the other hand, crypto platforms such as Ethereum are continuously growing, showing almost 500% of growth in 2024. It seems like people have recognized the potential these financial instruments have and are open to going down the rocky road of volatile investments, to be able to gain profits.
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Are cryptocurrencies becoming mainstream?
Companies, celebrities, retailers, online platforms – they all work in synergy with new trends. And while Bitcoin and other coins are present on the market for more than 10 years, after all the ups and downs, predictions, expectations, and financial crashes, it finally seems like they are gaining momentum and are not planning to slow down – in a good way, of course. The world’s most famous celebrities are promoting Bitcoin, not only because they are investing in it, but because some of them are fans of innovations, trends or they have just been able to recognize the potential of decentralized money.
Celebrities such as Paris Hilton, Ashton Kutcher, Serena Williams, or Mike Tyson are crypto investors but also great ambassadors of Bitcoin and other currencies – they are using their social media channels and numerous appearances in the media to showcase the benefits of these investments, and to promote Bitcoin, Litecoin, and others. As a result, more and more people are interested in trading, exchange or getting paid in Bitcoin, as well as paying for products and services by using their digital wallets. Not only we know that owning cryptocurrencies is profitable, but we know that it’s the language of the future!
If Elon does it then everyone should
If the world’s number one thinks it is a great idea and the right time to invest in Bitcoin, then who are we to claim otherwise? Thanks to Elon Musk’s social media following and the extreme wealth he possesses, after he posted a single hashtag on Twitter, suddenly, Bitcoin and other crypto have surged in popularity, but also value. He had also promoted Dogecoin, as a fantastic way to fight inflation.
But out of all Musk’s steps toward making crypto worldly popular, the most significant one was stashing an enormous amount of money in his company’s corporate coffers. Still, this action didn’t make other business owners do the same, but it rather inspired the rest of the world, or at least it affected the sudden growth of curiosity. According to the richest man on the planet, this is the right time to invest in Bitcoin, or any other cryptocurrency available.
2024 – the year of changes
Thanks to the pandemic and many other factors such as economical reasons, social sentiment or a certain level of hope, the value of Bitcoin has never been so high. It was initially made to be able to increase in value over time, and that is exactly what happened. Today, this currency has a second name, since it is often called ‘the digital gold’ because of certain similarities between the two assets. The research has shown that the goal-exchange funds are slowing down, and losing their funds, while on the other hand, there is a significant increase in crypto investments. Numerous surveys show that people would rather choose Bitcoin, compared to gold, since they prefer technology innovations, and they don’t trust institutions that much, which is one of the reasons decentralized money has made such a success.
Young people tend to focus on long-term investments that would provide them with early retirement, and therefore they are looking for something that will easily fight inflation, save their wealth but also increase in value after a while. Cryptocurrencies are able to do all of that, if not more.
Is it worth investing and should you do it?
What used to be unimaginable is now a part of our everyday life. Traditional businesses, retailers, companies, and corporations are integrating crypto, and are using all the advantages of being up to date with all the global trends. Whether it’s launching new products or it’s simply a way to integrate the right tools for success, they are interested in getting innovative and modern, in a financial environment.
Thanks to all the changes in the financial world, it’s become more than obvious that it most certainly is worth investing in cryptocurrencies, especially now. More than ever, we are aware of the possibility of to almost complete shift to digital currencies, since they provide a lot more than the traditional ones. Unlike the traditional currencies, crypto brings speed, practicality in everyday use, resilience to the outside factors and it almost erases the term ‘control’.
The reasons why it’s a great time to invest are the independence they offer, as well as the constant growth they face. This means that in the future, we can expect the value of Bitcoin to grow even three times its current value, which has never been higher – with almost $40k per Bitcoin. Visit this site to find out more.
Many people who have invested only a few bucks ten years ago are now more than happy to have done it. If they remembered their key, of course. There are also people who had a certain amount of crypto, sold it, and now when Bitcoin value has grown so much, they are desperate for making those decisions in the past.
The other side of the story
Although cryptocurrencies are hot right now, and it seems like they will only get bigger, there still is the other side of the story that also needs to be considered. Cryptocurrencies are a risky investment. If you plan on having a long-time investment, and if you are ready to work on it for a longer period of time, with all the risks in your mind, then you should invest. Before you even start, you need to be ready to experience financial losses. You also need to do as much research as you can and take advantage of not only Bitcoin but Litecoin, Bitcoin Cash, Binance Coin, Throne and many others.
