Is it too late to buy Bitcoin?

There’s certainly no one who has not heard about Bitcoin. Since making its market debut, it has continued to gain traction, becoming one of the most adopted medium of payments in the world. With Bitcoin becoming a mainstream project and soaring in popularity and value, those who missed out on the token at its earliest stage have begun to ask if it is too late to get involved in the biggest thing in the crypto market right now.

How Bitcoin came into the picture

Don’t forget that Bitcoin stormed the world as the first cryptocurrency in 2009 to serve as the best alternative to fiat. Being a decentralized money, it seeks to provide full freedom to people in the management of their finances. Every transaction done in Bitcoin is secure, anonymous, and lacks the oversight of any government or financial institution.

However, when Bitcoin first came into the picture, it was less popular and only a few people find potential in. But, it began to gain traction, attracting more people and jumping up on the price charts around 2010. With interest in the coin by numerous institutional investors, Bitcoin surged by over 5000% between 2013 to 2014. This laudable feat brought the attention of the world to the industry and positioned the coin as one of the finest investment assets of the decade.

Bitcoin attained its all-time high in 2021 after a massive bullish sentiment in the market soared its price to over $65,000. As expected, other tokens rode on this momentum to jump up on the price charts. Then, almost everyone felt Bitcoin was going to hit $100,000, however, the unexpected happened. The bear market, triggered by the collapse of Terra, amongst other factors, pulled Bitcoin to its lowest low of $17,000 in 2022.

Despite the setback, the crypto community remained steadfast and rallied behind the greatest crypto to greet the human space. In the end, Bitcoin survived the bear, thanks to the collapse of major banking firms in the U.S, approval of spot Bitcoin ETF products, and rising speculation about a potential ETH ETF approval.

These factors have proven to be instrumental to the current price of BTC. With Bitcoin gaining mainstream traction, people are now asking if it is now too late to gain exposure to the token or not.

Why you may have to Consider Buying Bitcoin

There are emerging pointers that the value of BTC is likely to soar significantly. First, analysts have registered faith that a bull market could be around the corner after the United States Securities and Exchange Commission (SEC) made history by approving the first spot BTC exchange-traded Funds (ETF). 

More so, the approval of the Bitcoin ETF paved the way for traditional investment companies to become market participants in the virtual assets sector. Furthermore, the approval highlights how Bitcoin has evolved to earn global recognition. Consequently, the development could usher in an era of regulation across various countries and jurisdictions. Hence, giving investors more opportunities to own Bitcoin and enjoy the protection of regulators. 

One factor that has impacted the Bitcoin price is the rising speculation about a possible ETH ETF approval. As the news around this gains momentum, the crypto market saw a major boost that took BTC above $70k. Altcoins like Solana, Ethereum, and others also benefitted from that market uptrend.

Conclusion 

It is never too late to buy Bitcoin. Without a doubt, BTC, like other cryptocurrencies, is highly volatile as news, investors’ decisions, regulations, adoptions, and many other factors could easily influence its price. Hence, it is imperative that you embrace the reality that you could lose your money within a few flashes. 

Meanwhile, the value of your investment in virtual assets can also skyrocket overnight, placing you in a profitable position. In either way, your personal decision, risk tolerance, and knowledge of how the crypto market works are really important. While you may have missed out on investing in BTC before it gained global recognition, you can still take advantage of the present market situation to invest in virtual assets.