The majority of cryptocurrency investors are probably interested in the monetary aspect. Regardless of whether you want to diversify your own portfolio with Bitcoin and / or see BTC as part of private retirement provision - in the end everyone depends on the result. Fortunately, returns are easy to measure, and based on current statistics, we can see that buying Bitcoin has been lucrative in 95.4% of the days since BTC was established.
Bitcoin rate attacks $ 10,000 mark
With the recent gains and the associated attack on the psychologically important $ 10,000 mark, many see their decision to buy Bitcoin confirmed. While the largest cryptocurrency by market capitalization was still declared to be extremely speculative in the early years, BTC is now considered by many to be a digital gold and safe haven asset.
To get such an attribute, of course, you also need substance. In the case of digital gold, the focus is on preserving value. It is clear that, at best, an asset should not only maintain its investment value, but should at best increase in value.
With the price increases of the last few days just mentioned, BTC is now bringing many investors back into the profit zone. According to a recent tweet from Philip Swift, we can record the following:
Bitcoin has been 95.4% profitable since its inception. In other words: an investment in Bitcoin was worth it on 95.4% days since the first known public price for BTC. For those who are wondering whether to buy Bitcoin, this may be a good decision-making aid.
It also confirms important rules that an investment should only be made over a longer period of time. In the short term, the volatility of BTC can be worrying for nervous investors.
It depends on the right cryptocurrency
The second lesson of this article should be that it depends on the choice of the right cryptocurrency. Many altcoins lost a large part of their value after the “crypto bubble” burst. It is not an exaggeration to say that many altcoins are still a good 75 to sometimes even 99% below their all-time high.
Bitcoin Cash is a negative example. Of course, the hard fork came at an "unfavorable" time because it took place shortly before the rapid rally. Still, we clearly see that investing in Bitcoin Cash was far less lucrative than making the "safe" deal and buying Bitcoin.
Finally, we can say that 95.4 percent of the time it was worth buying Bitcoin. If you want to buy altcoins, you have to have a much “better” view and run the risk of burning an enormous amount of money within a relatively short time. Especially for beginners, this project can end with a negative experience or entry into the crypto world.