At the moment, there isn’t a better way to make money online than to mine or invest in cryptocurrencies. Anyone who is fortunate and skillful enough to have a hard drive full of Bitcoin stands to earn a fortune. The current share price for a single Bitcoin is $13,000 and rising.
Still, investors are skeptical and think the opportunity has gone. Poof. Vanished. Kaput. The time to mine was a decade ago. Now, the competition is rife and the industry is saturated, right? Not entirely because cryptocurrencies still have lots to offer their shareholders.
Here are the reasons why.
The bottom line is you want to make more money than you invest. People see new currencies and think that the rush is over because they are popular. Sure, everyone knows about Bitcoin, but that doesn’t make it a bad investment. Take a look at the numbers and you’ll see why it’s never too late to have skin in the game. The leading cryptocurrency still offered a 103% return on investment just three months ago. Ethereum’s ROI was 23% and Litecoin is 58%. The numbers are impressive and suggest the shares have a long way to go before they tank fully, if at all.
Living In A Bubble
“Yes, but cryptocurrencies are bubbles and everyone knows this to be true.” Well, the CEO of Google has lavished praise on Bitcoin in particular, as have many Fortune 500 leaders. If the experts think it’s legitimate, it has to have a case. When there is an accusation such as this, it’s best to look to the data for guidance. The market cap is an excellent place to start as it shows the likelihood of the shares living in a bubble. Currently, the cryptocurrency market is 31x smaller than China’s stock market cap. Bitcoin itself is 54x smaller and 167x lower than the US version. The size of the cap suggests it isn’t at all a bubble.
21 Million Mark
By 2040, or after 21 million Bitcoin have been mined, the craze will stop. Lots of people see this as grounds not to invest, but it’s one of the benefits of Bitcoin for various reasons. For starters, the lack of supply will keep the demand high for quite a long time. Anyone who is worried about getting caught up in a bubble should remember that they will have an investment that is sought after by millions. Secondly, buyers will want Bitcoin after it has stopped trading because it’s a trophy.
The cryptocurrency market is a billion dollar industry and set to get bigger. Although this appears to be a con, it’s a pro because of its growth potential. The big players, such as banks and hedge funds have yet to get involved. When they do, confidence in the market will increase and the stock prices will rise to new heights. And, there’s no doubt that traditional powerhouses will pass up the opportunity to make money on cryptocurrencies.
The answer is no – it’s not too late. In fact, now might be one of the best times to throw your digital hat in the ring.