7 Reasons Why It’s Not Too Late for Crypto Investing
July 18, 2018
Although Bitcoin did not get back to its last year’s cost of $20,000, the cryptocurrency has made a 15%-leap to $7,382 over the last seven days due to news about investment firm BlackRock founding a task group to study cryptocurrencies.
Several other large investment institutions have taken similar steps which made the most of experts believe that investors’ confidence in the cryptocurrency will grow. Here is what insiders say on the matter:
1. Regulation is coming soon, and this is good
“The SEC’s announcement that cryptocurrencies like Bitcoin are not securities is a welcome development and will allow for additional mainstream investment. Individuals and businesses can now purchase cryptocurrencies knowing that they are not purchasing a security”, founder and CEO of Myntum Kevin Barry.
2. Cryptocurrencies are available 24/7
“Banks and Wall Street are open Monday through Friday until 4:00 PM, whereas cryptocurrency exchanges never close. The 24/7 ability to access and trade digital currency is an important and often understated long-term benefit in the space”, Patrick Gray, the head of HashChain Technology.
3. Traditional investments are getting more risky
“With continued U.S. interest rates tightening, it is sure to put downward pressure on gold and traditional safe-haven assets. Crypto could be the one non-traditional investment that performs well in 2018/2019”, Ray Youssef, director at Paxful.
4. Huge potential for growth
“Cryptocurrency adoption is currently 0.2 percent and has been doubling by 100 percent a year. At this rate, the potential and opportunity over the next ten years is vast. Despite some downturns, that kind of growth potential and growth rate shouldn't be overlooked”, Patrick Gray, the head of HashChain Technology.
“Cryptocurrency helps to diversify asset classes, which has been influential for countries that have suffered from hyperinflation such as Venezuela and Zimbabwe”, the director of BlockChain Developers Dean Anastos.
6. Bear market
“Cryptocurrency is this year's bear market, offering investors an opportunity to purchase cryptocurrency at only a fraction from where it was trading at the end of last year. Currently, Bitcoin is 70 percent off of its highs. Historically, Bitcoin has seen drops over 80 percent and came back seven times to achieve all-time highs. There is a good chance that this will occur again”, BlockChain Developers Dean Anastos.
7. Immense institutional buy-in
“Major corporations and financial institutions have been investing heavily in cryptocurrencies. These are significant steps taken by some of the most influential companies in the world and a testament to how favorable general public opinion is getting”, Patrick Gray, the head of HashChain Technology.