6 Reasons Why Bitcoin Is Still a Good Investment in 2024

Bitcoin has been prevailing as one of the best-performing assets for several years now. Even during the global pandemic, it has been a great performer. The value of Bitcoin has almost doubled since the start of 2024, and a rise of almost 130% was recorded. It is what sets Bitcoin apart from other cryptocurrencies even at the times of such great uncertainty.

Bitcoin has, no doubt, witnessed tremendous run-ups in price, though there were some crashes as well. It still somehow managed to secure a substantial fraction of the previous gains, each time it plunged. Since its establishment, it is one such digital asset that spawns the whole ecosystem of cryptocurrencies. If you are willing to invest in bitcoins, check out BitcoinEra. This site allows you to trade bitcoins both manually and automatically.

Everyone has their guesses about the expected rate of 1 BTC in 2024. The change in the rate is purely a game of demand and supply. Today, there are over sixteen million cryptocurrencies in circulation, and by 2030, it will be around twenty million. 

If you are wondering whether or not it is a good idea to invest in Bitcoins in 2024, let us have a look at a few reasons as to why it is emerging as the best investment asset. The reasons also explain the ability of the digital currency to continue a spectacular run in the bull market. 

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  • Global Monetary Inflation in 2024

Bitcoin owes its existence to the Global Financial Crisis that happened in 2009. With government bailouts, bank failures, and rising unemployment, cryptocurrencies were slowly deployed in the system where everyone except a few idealists initially ignored it. 

Now, a decade later, a new financial crisis is soaring. The bailout rates are higher, and the interest rates are all-time low. In such a situation, companies and people are becoming increasingly aware of the value that cryptos can add to their assets. The pandemic is believed to continue in 2024, and the world will soon face a Global Monetary Inflation. In such a scenario, investing in cryptocurrencies will be the ideal choice. 

  • Strong Scarcity Rate

Bitcoin has successfully stood out as one of the most disciplined currencies that has a strong scarcity value. There exist only 21 million virtual coins which make it precious. They have an inbuilt value encompassing the cost of the substantial computing power required to mine them. The scarcity value of each Bitcoin is believed to increase in the upcoming year. 

  • Various Investors

You are of the wrong notion if you think that institutions are the only investors that invest their money in Bitcoins. Self-managed super funds, retirees, and a vast range of individuals are also investing in them. The number of investors is believed to increase in 2024. 

Self-managed super funds and retirees are present at the safest end of the risk spectrum, and they generally hold a large amount of cash. They hope to invest small proportions of their entire investment in fields that will yield high returns. It is most likely that Bitcoin can become a long-term investment mode if the investor is ready to bear its price volatility. 

Over the years, institutional investors will be seen investing more in bitcoins which will, in turn, may make people more affluent with cryptocurrencies. In the past few months of 2024, cryptocurrencies have outperformed the other asset classes. This upsurge is believed to continue in 2024, thereby making it a suitable year to make investments. 

  • Global Adoption Rate is Accelerating

The number of bitcoin users has steadily increased in 2024, and it is expected to further increase in 2024. It is expected of the central governments to embrace various cryptocurrencies, including Bitcoins owing to their high demand. Mainly, the Chinese government has planned to adopt schemes to invest in various verticals. The country is aiming to build a global public infrastructure with the help of the global Crypto Service Network.

Also, it is expected of the crypto bull market to heat up in the upcoming year. It is going to drive the retail and institutional buyers towards buying Bitcoins. If this demand continues to surge, then history may repeat itself and bitcoin may witness an explosive price surge.

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  • High Return Rate

The theory is simple if you had invested $10,000 in Bitcoins in 2015, it would have returned over $430,000 today. You can expect more in the coming days. Bitcoin has recently emerged as the sixth-largest currency in the world. It is expected to rise further in the future. 

They are circulated widely, way more than a British pound and have a velocity of six times more than that of the U.S dollar. Bitcoin prevails as the primary currency of cryptocurrency developers. Predicting the accurate price that the cryptocurrencies will bear in the future is difficult. 

  • Bitcoin Recently Surpassed its All-time Highs

Before investing in cryptocurrencies, it is always recommended to have a look at its historical price chart. They have witnessed numerous ups and downs throughout their lifetime. It has also been reported as “dead” numerous times. But recently it surpassed its all-time high. There is absolutely no reason to think that history will not repeat itself. 2024 might become a lucky year.

The experts have made various predictions looking at the historical price chart. As per them, bitcoin will soon exceed its recent all-time high price. Say, even if it does not, the least the bitcoins will do, maintains a steady increase in their price. Thus, investing in cryptocurrencies in 2024 will not land you in debts.

Final Words

Investing in cryptocurrencies is an asymmetric bet. However, looking at the year 2024, numerous Crypto Experts have made positive predictions for the entire year. Bitcoins are expected to yield greater returns. 

However, the predictions are wildly distinct, and hence, it is hard to know the outcome. But it is expected that the potential price increase will be more dramatic than the potential price decrease.