The first cryptocurrency, Bitcoin, was invented back in 2009. That was just the beginning though, and nobody really knew about Bitcoin until 2013 and questions like How do I Invest In Bitcoin? Best Bitcoin investment sites? Bitcoin Investment Guide? bitcoin investment strategy? and more are not asked. However, since 2013 the cryptocurrency market has seen huge growth — growth that has been hard to ignore. There are now more than 1500 different cryptocurrencies, all created in less than 5 years.
It’s clear that 2017 was the year crypto really blew up. The market cap of cryptocurrencies grew by 4000%! The market cap of all cryptocurrencies was around $21 billion in March 2017, whereas it is now over $454 billion. That’s huge!
If somehow, you’ve only heard of one cryptocurrency, it’s probably Bitcoin. Bitcoin, the world’s largest cryptocurrency whose coins are collectively worth $137 billion.
Best Cryptocurrency to Invest 2018
Bit Coin It is the biggest cryptocurrency — it currently has a 40% share in the total cryptocurrency market cap! It is the oldest cryptocurrency and it still dominates in the market. So, if Bitcoin continues to increase like it did in 2017, then investing in Bitcoin might be a good idea for 2018.
The price of Bitcoin changes a lot every day and has seen many highs and lows over the last few years. Take a look at the following chart and you will see just how much the price changes.
The price of 1 Bitcoin has gone from around $76 (07.09.13) to as high as $20,000 in December 2017. But then after Bitcoin reached its highest point in December, the price of Bitcoin dropped to around $6000 in February 2018. It’s crazy!
With the price changing so much in such a short space of time, how do you decide what the best time is for investing in Bitcoin?
Well, we can try to find the answers by looking at some important past events — when the price went up or down by a large amount.
- One major event was when Bitcoin split into two cryptocurrencies — Bitcoin and Bitcoin Cash. This happened August 1st Investors who knew about this invested their money before the split and made huge profits, almost doubling their investment!
- The price of Bitcoin dropped to around $10,000 in January 2018, almost half of the $20,000 it was worth in December 2017. Many investors became worried at this point and started selling their Bitcoin. This caused the price to fall to around $6,000 in February 2018.
If you made an investment in Bitcoin when the prices fell in February 2018, you would have already made about 100% profit on your investment.
How do I Invest In Bitcoin – Bitcoin Investment
If you want to invest in Bitcoin then you need to stay up to date with the latest news and trends around Bitcoin. When news is released about a new technical improvement, you might want to think about buying Bitcoin. If there is a huge fall in price of Bitcoin, then that too might be a good time to buy Bitcoin because you can buy it a low price.
If you have already decided to invest in cryptocurrencies, then it might be a good idea to start by investing in Bitcoin. Even though you have missed the first major opportunity to invest, investing in Bitcoin could still be a good idea.
Now, is not all about How do I Invest In Bitcoin? rather It all depends on whether you believe in the future of Bitcoin. If you believe in it, you should think about investing in it. If you don’t, then I recommend that you stay away from it. It’s the same with any investment!