Is it too late to buy Bitcoin? In this LATOKEN review, we will talk about the possible main reasons why Bitcoin will continue to rise in price in 2021 and will try to explain what probably prevents its mass distribution.
A year ago, Bitcoin was trading at $10 thousand. As of August 19 of this year, the value of the asset is $44,5 thousand. Over the past 12 months, cryptocurrency quotations have grown by almost 4.5 times. At the same time, in April, the coin price set a historical maximum at around $65 thousand. So let’s try to figure out if it’s too late to buy Bitcoin, the Bitcoin price prediction and name the reasons why Bitcoin might continue to grow.
What may be holding back the crypto market growth? Should we buy Bitcoin now? LATOKEN review
Many are sure that the cryptocurrency market is currently in its initial, early stage. So don’t ask yourself a question like “When to buy Bitcoin?” or “Is it ever too late to buy Bitcoin?,” no worries! We will try to help you out.
Although now the crypto economy, in general, is beginning to develop, the market still lacks regulation and infrastructure. Also, the growth of the industry is held back because of:
- High energy consumption: the high cost of electricity and computing power;
- Lack of legal framework. Lack of a unified method of state regulation of the sphere, international norms, and practices;
- Lack of blockchain specialists of the required level;
- The inertia of the big players. Large companies and international banks still continue using SWIFT, VISA, American Express, and usual banking services.
What possible room to grow does the crypto market have? What is the Bitcoin price prediction? LATOKEN review
Now the crypto market’s capitalization is $2 trillion, the gold market is about $12-13 trillion, the stock market is $80 trillion, and with all derivatives — we have another $20-30 trillion.
It is estimated that the cryptocurrency market is now less than 2% of the total capital market. At the same time, there are many prospects for digitalization. Many experts believe that the crypto market should eventually take at least 5-6%. If this happens, then we will get a twofold or even threefold growth from the current volumes.
Is it too late to buy Bitcoin and other cryptos? LATOKEN review
We can say that it is not too late to buy Bitcoin and altcoins, but on the condition that we are considering long-term investments (3-5 years). According to some crypto experts, institutional investors and large funds are now buying cryptocurrencies, and their investments give the market a boost to growth.
At the same time, experts warn that now is not the best time for short-term investments since the crypto market is extremely volatile, although it has prospects for growth and renewal of historical highs.
Large investors and funds express confidence in the crypto market. Cryptocurrencies are backed by financial institutions, exchanges, and miners. And the more actively the infrastructure develops, the faster the Bitcoin price will grow.
Many experts also compare cryptocurrency with Apple, Amazon, or Microsoft stocks, which are actively growing in value. Thus, there is a great demand for cryptocurrencies now, and the market is still at the beginning of its journey.
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LATOKEN crypto exchange does not provide any investment, tax, legal, or accounting advice. This article is written for informational purposes only. Like other assets, cryptocurrency is subject to market risk. Please do your own research and trade with caution.