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Despite its initial down struck, bitcoin investors still feel positive about the crypto king
From the highs of feeling like a total genius to the lows of downward price movements, many bitcoin investors are upset over the current state of the crypto king. But that doesn’t stop them from supporting or keeping their hopes high with Bitcoin (BTC). Crypto enthusiasts see the digital currency market as a place where they can feel relieved from government and bank regulations. Although there are over ten thousand cryptocurrencies in use today, front-running tokens like bitcoin, Ethereum, and dogecoin hit differently.
In an interview with Cointelegraph, one of the famous bitcoin investors Enriquez shared his crypto trading journey, starting from his first encounter with digital assets. According to the trader, it all started when a friend asked him about his plans for the future. After sharing his dreams about the future, the friend told him that if he wanted to make those plans come true, he “better study cryptocurrency, buy some and hold it.”
Here are some reasons why Bitcoin investors should hold onto BTC
Effective Inflation Hedge
According to reports, the global economic and financial markets will soon experience massive inflation in the coming years. So, it is quite evident that people will start looking for effective hedges against inflation to protect their money and also store them as a valuable asset. After the rise of Bitcoin, crypto fanatics have started considering crypto as digital gold. Hence, it might become a power hedge against inflation.
Bitcoin has several users and more are joining every day, both institutional and individual investors. This is mainly one of the many reasons why it is quite well-accepted in the market. Hence, experts believe Bitcoin will continue to rise again once it comes out of its bearish slump. BTC fanatics believe that there will be a time when most individuals and businesses will use Bitcoin instead of using traditional or fiat currencies.
More Trustworthy than Other Cryptocurrencies
Bitcoin sparked a revolution since its inception. As mentioned previously, the crypto was only supposed to spark a revolution. But as more cryptocurrencies started emerging, BTC continued to gain more prominence and trust from other investors. Apart from the several advantages that BTC provides over other digital assets, crypto also offers several benefits over using fiat currencies.
Its Supply is Fixed at 21 million
Bitcoin’s supply is fixed. A limited number of 21 million coins are available as the total supply, and currently, around 18.9 million Bitcoins have been mined. This leaves only 3 million BTC tokens left to be mined which will make it even more difficult for investors to get their hands on the token, eventually making it pricier. Additionally, more than 30% of the BTC tokens have been lost already. So, analysts predict that BTC might eventually rise again!
Decentralized in Nature
Bitcoin is a decentralized currency, which means investors will be subjected to their security, and theoretically, this will provide more autonomy and control over their money since the price is not linked to government policies. Since BTC demonstrates no influence from centralized governments, it certainly would not fluctuate based on national crises.
Bitcoin offers Low Transactional Fees for International Payments
Standard wire transfers and foreign purchases involve high exchange fees. But since transacting through BTC would involve no intermediary institutions or governments, the costs of exchange are generally lower as compared to those for bank transfers. This provides immense credibility and advantages to travelers.
Additional ETF Features
The year 2021 was immensely historic for Bitcoin as the year that introduced Bitcoin ETFs, and that became an overnight success. Without ETFs, several large funds would be prevented from exposure to Bitcoin. According to reports, more than 70% of US investors have invested or are planning to invest in Bitcoin shortly.