Are you considering investing in BTC and do not know if it is worth giving it a shot? Cryptocurrency analyst advocates that BTC is an extremely profitable asset!
Bitcoin - it's worth it
One of the cryptocurrency analysts, Rhythm Trader
, published on Twitter an analysis according to which bitcoin was profitable for 3817 out of 3869 days of its existence
. This period amounts to 98.66% of this cryptocurrency history.
The analyst adds as well that the only investors who lost on bitcoin were those who sold their coins during downward trends. Those who firmly held the coins, on the other hand, achieved maximum profits.
BTC vs gold
The report appeared in the course of the ongoing discussion about whether bitcoin is an ideal resource of value asset. Supporters of btc claim that this cryptocurrency is just as safe an asset as gold is.
It shows a similar scarcity as gold which is a precious metal, but it stands out when it comes to storage and transaction control. Opponents argue, however, that btc prices are too volatile to be considered as a good virtual asset. In the middle of the discussion are traders who earn on fluctuations
in cryptocurrency exchange rates.
In the 70s, people began to see gold as an alternative to USD. When financial crises were anticipated, investors would bought gold to keep their capital in an unchanged state. Nowadays, many people treat bitcoin in a similar way. What differentiates these two is the fact that gold is a physical and BTC is a digital resource. In addition, gold has been around for thousands of years, while btc only for a decade. Some doubts may arise, therefore, as to whether this digital currency will survive such a long path the ore has traveled ages ago. The cryptocurrency market is rapidly gaining momentum, though. Another well-known cryptocurrency analyst, Tony Vays
, sees a great potential in bitcoin. In addition, he places cryptocurrency over gold or over any other asset:
"Bitcoin might be the greatest store of value in the history of the world. Yes, it’s volatile — as it’s only been useful for about seven years — but its ‘un-confiscability’ property is unmatched. That is its true store of value, as gold is confiscatable and all other assets even easier."