For centuries, people found gold as the most precious metal on the planet and fought over its possession. However, recent development in the financial market has decreased its value. Now a digital cryptocurrency bitcoin values more than this metal and the world is going crazy for it.
For a non-financial person, grasping the valuation of cryptocurrency is a bit difficult. They believe that the valuation of cryptocurrency is nothing more than a financial bubble that will pop someday. However, the experts in this field have a different opinion. Experts believe the price of bitcoin cash will rise more in the future.
Why Gold is not that valuable
It is true that gold used to be scarce material, but not anymore. Geologists have recently many deposits of gold from where this metal can be excavated easily. On the other hand, the volume of bitcoin is limited and it cannot be mined more than that number. For this reason, bitcoin is a more scarce resource than gold.
Another problem with gold is its security. Anyone can loot gold from you. Hence, you need to invest substantial amounts of resources in its security. On the other hand, bitcoin is secured by default. The strong encryption of this cryptocurrency ensures its safety.
Key benefits of bitcoin over gold
Bitcoin is a digital asset. For this reason, it offers multiple advantages over gold. Here are some benefits of trading you get from Bitcoin.
• You can sell bitcoin for cash
• Bitcoin can be easily stored in a crypto wallet
• You can make an easy exchange of bitcoin through dedicated apps
• No one can loot bitcoin from you
How can you invest in bitcoin?
Doing an investment is very easy. At first, you need to sign up with a cryptocurrency exchange. For this, you need to download its app on a smartphone or crypto wallet. After the signup and verification process, you can purchase cryptocurrency directly from the exchange. The cryptocurrency exchange also allows you to trade it with full security. It is a one stop market for all cryptocurrencies.
The future potential of bitcoin
Not only wealthy individuals but many S&P companies are seeing the huge potential in the cryptocurrency market. Billionaire Elon Musk publically promoting cryptocurrencies like Dogecoin and his company TESLA recently brought nearly 1.25 billion dollars’ worth of bitcoin. Other innovating companies like SQUARE are also following their lead and buying bitcoin.
Many experts in the cryptocurrency world believe that the rampage of bitcoin will continue in the future and the value of this cryptocurrency will exceed more than $200,000 in the next three to five years. Many people are taking benefit of this opportunity and following the spot ticker for bitcoin.
The valuation of cryptocurrencies remains unaffected by the policy change of central banks. Hence, governments around the world cannot manipulate its price. Only the equation of supply and demand will determine its price in the future. All cryptocurrencies are available in a limited quantity and the demand for cryptocurrencies will rise soon in the future. By doing swing trading cryptocurrency, you can make a huge profit from them.
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