Short answer: Yes
Long answer: Bitcoin continues to grow, both as a digital asset and as a currency
with real world applications. Increased globalization and the need to transfer
money across borders will only lead to a rise in adoption of Bitcoin. The amount
of cross border money transfers continues to grow year-on-year and now
represent almost 1% of the world’s GDP. Bitcoin’s total market cap now stands
at $71 billion, more than the GDP of countries like Costa Rica and Bulgaria.
The near (but not total) anonymous element of Bitcoin is another factor that
continues to drive growth. This is particularly important in countries where
government’s heavily regulate the fiat currency like China.
Bitcoin has now become a brand in and of itself. The currency is synonymous
with a digital store of value. This is something that no other cryptocurrency can
touch. Think of it like buying a property. Would you rather buy one in a “name
brand” city like London or New York, where the demand for properties like
yours will always be high, regardless of the general state of the market. Or one
for the same price in say Oklahoma City where you may be able to buy a bigger
house – but will you be able to sell during a market downturn?
Whether you want to use Bitcoin as a tool for trading, exchanging for other
cryptocurrencies or as a long term store of value, there has never been a better
time to invest in cryptocurrency than 2017. It’s also never been easier to invest
with sites like Coinbase and Kraken.
Just remember though, everyone feels like a genius or ahead of the curve when
the market is going up. There will be down periods, and it’s important to manage
your risk correctly so that you can ride out the bad times and continue to profit
during the good ones. Remember this – even the best in the business get it wrong