Is Bitcoin Still Worth It?

Person holding bitcoin

Trading crypto assets is always about the great risk of losing an original investment. The reason for this risk is the high volatility on the crypto market value, which can be traced to the bitcoin history. In this article, we are going to make an insight into how the profitability of bitcoin has been changing throughout the years and how you can still benefit from investing in crypto today.

Trading crypto assets is always about the great risk of losing an original investment. The reason for this risk is the high volatility on the crypto market value, which can be traced to the bitcoin history. In this article, we are going to make an insight into how the profitability of bitcoin has been changing throughout the years and how you can still benefit from investing in crypto today.

Crypto industry has quite a comprehensive history behind its back. It all began with bitcoin as an asset circulating within the dark web.  Only after some time bitcoin became a part of mainstream due to the striking price increase. This milestone instantly caught the attention of investors and market traders, who were seeking to extract maximum advantage from the emerging financial technologies.

Some of them managed to profit substantially, whereas others failed crucially. No wonder! Bitcoin price was uncatchable at that time: it first surged up to $20,000 and then plummeted to the $3,000 within as little as one year.

So what about now: are cryptocurrencies still worth that?

According to crypto experts, tracing the latest crypto developments, the future of bitcoin, in particular, will largely depend on how governments treat its further development. The recent news is hardly uplifting though – governments of some countries tend to put a spoke in the wheel of crypto technologies.

As experts put it, it is hardly possible in the forthcoming perspective, that cryptocurrencies will be used in day-to-day transactions. The main value a crypto bear today is the decentralized nature of its operation. Bitcoin does not relate to any government or banking system but stands as an autonomous and self-sufficient banking system. This status quo is extremely beneficial to rich individuals and companies, who involve in cross-state transactions.

However, some experts suggest that bitcoin can become a part of our daily lives within Visa and Mastercard payment networks.

The thing is that, for all the privacy and swiftness bitcoin provides players on the financial markets, average people feel comfortable swiping their bank cards when paying for their Starbucks coffee.

So as you can see, predictions vary on where bitcoin is going to get in about 5 or 10 years. Let us address the opinion of a self-made billionaire and early crypto investor Daniel Ameduri. Daniel is the president of Future Money Trends LLC, and he takes an interest in quite different assets – cryptocurrencies and gold.

 “I first heard of bitcoin when it was at $1. I visited a crypto conference, where I saw a group of extremely enthusiastic people, who shared one common goal. And this is what fascinated me the most. It was not about making cash, but about creating this new decentralized network, a high-performing alternative to the financial system,” Daniel said.

 “Thankfully, the present this inspiration and enthusiasm goes far beyond those 300 people I met that day in a conference room. Now aside from bitcoin, you also have Ethereum and Litecoin and dash, which pushes the crypto industry forward. I guess the next step – implementation of the blockchain technology in all big and medium business companies. This implementation will highly contribute to the transaction fees reduction and swiftness of international transfers”.

However, as Daniel go on, he highlights several drawbacks of bitcoin, which prevents the whole crypto industry from further development.

“Bitcoin, as well as the crypto industry as such, still lacks the swiftness and financial availability to get to another notch of its development. Besides that, the costly and energy-consuming mining devices make the whole process not worth the result. The future of crypto is not possible unless changes are introduced in these parts”.

Daniel gave his interview some time ago, so back then, he was not aware that these changes he mentioned were already on their way. Thankfully, nowadays there are decentralized blockchain-based networks and crypto coins, which solve the problems of high fees, downtimes and bulky equipment issue all in one — for instance, Metahash network.

Created in 2019, Metahash introduces a brand new wave of crypto network and coin. Using the smart contracts technology, Metahash extracts the best a blockchain-based platform can offer.

Metahash suggests a unique solution that unites the blockchain systems into a single decentralized high-performing platform, tracking each and every transaction taking place within this network. Such a platform will be a precursor of even a bigger project – an advent of a self-sufficient blanch of free internet. This global network will be independent of individual developers. Instead, the whole network will be administered by open voting of users or  #MetaHashCoins2 owners. Such a decentralized system will entail full freedom from giant corporations and governments, putting the network management in the hands of users.

 

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