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Saturday, February 22, 2020

Is it too late to invest in cryptocurrencies?

by Peter Krence (writer), , October 22, 2019

I'm sure you've heard that cryptocurrencies have helped a lot of people make big money. We hear very often people say that now it is too late to invest in cryptocurrencies. You already missed the train and that it is not worth it. We disagree. It’s not too late! It’s still a very attractive investment and way how to make money online. Naturally, bitcoin has gone a long way since its early stages when it was being sold at a few bucks. However, it does not mean that it can’t grow anymore.

The current circumstances rather indicate that we are still at the beginning and that we should take into account that a lot of cryptocurrencies have not yet achieved the peak. With the new cryptocurrencies still developing, it is very likely that the “right one” has not been born yet. We definitely recommend being in touch with the crypto market, because it's still (and it will be) a great opportunity for making money.

Cryptocurrencies market as of today

2017 was a breakthrough year for cryptocurrencies. Thanks to the high growth, virtual currencies have spread beyond the narrow community of geeks, crypto anarchists and alternative currency investors to attract attention of ordinary people and fill the headlines of the world media. It should be stressed that cryptocurrencies needed and, most importantly, deserved the attention.

No doubt it was bitcoin that stole the limelight from the rest of alternative currencies. Bitcoin was the driver and inspiration for creating cryptos such as ethereum, litecoin or monero and many others, helping in the establishment of the very concept of cryptography and blockchain. Knowing that “one swallow doesn’t make a summer”, one project might be seen as an exception not representing the entire industry. But if there is a number of projects one may assume that this is the right way to go.

A lot of people, following the development of bitcoin since the last year’s boom, may feel that bitcoin has suffered decline. However, from the long-term perspective, this “decline” indicates a typical retracement, a natural part of each cycle. Now it seems that the market is in the doldrums with people speculating about when and how much it will go up and which of the altcoins is going to be the “next ethereum” (a crypto skyrocketing in 2017 by thousands of percent).

What you should focus on?

Many of us tend to draw a parallel between cryptocurrencies and the internet at the turn of the millennium. In those years, many of the emerging projects died but others lead to the birth of new IT giants. It’s true that some of them such as Amazon and others needed more time before skyrocketing (such as Airbnb). The story with cryptocurrencies is no difference.

The goal of this article is not to give you advise on how you should invest but, based on facts, to show you that it is not too late to invest into cryptocurrencies. Bitcoin has the largest community. Despite having a lot of things to improve, the good news is that people keep working on these improvements, which is demonstrated for example by the recent forks into Bitcoin Cash, which is definitely worth attention. Litecoin, Ripple, Monero, and Ethereum have already proven that these are cleverly constructed and functional projects having always something new to offer. They are still hot candidates to replace bitcoin in the leading position even though it is not the issue right now.

Various crypto evangelists estimate that the price of Litecoin may grow up to USD 700-800 and bitcoin, from USD 20 000 to 50 000. Seems like a good opportunity. Will you take advantage of the situation or not? What is certain is that these cryptocurrencies will continue to be the trendsetters. The question remains, what other altcoins will join (or replace) them. Nobody knows what happens even in the near future. The competition in the crypto market is fierce. It’s logical - the number of players is too big.

What can we expect from the crypto market?

Nobody has a crystal ball to peep into the future. As mentioned above, cryptocurrencies are going through a process similar to the one experienced by the internet. There will always be winners and losers. Not all new projects will prosper or survive. Some projects are doomed to fail, others to be hugely successful.

From my point of view, we are still at the beginning of a long journey. The future is promising. Stay tuned to see what’s going on with cryptocurrencies to be ready to take advantage of the situation.

If you are a crypto beginner and you want to learn and understand better these digital currencies, we recommend you to learn. If will don't know it's potential, how it works, etc..., you are not able to make money with it. To understand crypto better and learn more about it, visit this website: https://xbinop.com/

You will be surprised how many new things you can learn!



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