Bitcoin Rally Never Ends! On Thursday, the cryptocurrency broke the $ 40,000 mark – for the first time in its 12-year history. With the recent price explosion, Bitcoin has become a serious option in the investment world as prices continue to rise.
In addition: a number of stories of ordinary citizens, If investing at a good time is causing a great deal of controversy now, small investors are increasingly encouraging them to jump on the bandwagon of bitcoin.
Boom and Joy Delight
Adriel Jost, 35, warns people with small capital to be careful: “Bitcoin is notorious for its volatility. The managing director of WPuls Investment Consulting says that will not change in the future. He explains: “The price of cryptocurrencies is ultimately arbitrary, so it invites boom and bust. You need to maintain a critical attitude.
Looking at the latest price developments confirms the statement of the investment specialist. Bitcoin was valued at more than US $ 7,000 at the beginning of 2020, but collapsed in March with the traditional financial markets in the initial turmoil of the corona crisis. Since then, the price of Bitcoin has known only one direction: up!
Reason for Powerful Rise: Financial sector cryptocurrencies are becoming more and more socially acceptable. PayPal, an online payment service, intends to deal with Bitcoin before the end of this year. Elon Musk, 49, the pioneer of Tesla and the world’s richest man, recently meditated on the conversion of his company’s assets into digital currency. Digital money also plays an increasingly important role in the portfolio of corporate investors. This further increases the credibility of the young currency. And the demand for her.
Central bank money is flooding
According to Joss, what’s happening to Bitcoin fans is this: “Doubts about traditional money are growing around the world.” Since the outbreak of the corona crisis, central banks around the world have bought large quantities of government bonds to keep their currency printing presses fast. “Governments finance the economy with freshly squeezed money through the crisis.” The European Central Bank (ECB) recently announced that another යුරෝ 500 billion is in circulation.
This raises investors’ fears of a rapid devaluation of the national currency. They are looking for alternatives. One gold, for example, went through the roof last summer. Another is cryptocurrencies like Bitcoin. This is because with their decentralized structure, they are protected from the regulatory influence of states. This further stimulates the desire for a new payment system as criticism of governments around the world grows.
So it’s not surprising that Bitcoin fans are usually angry about “Digital Gold” or “Gold 2.0”. But Jost doesn’t want to know anything about it: “Of course gold is also volatile,” he says. Even so, the precious metal has a history of thousands of years. This gives investors – unlike Bitcoin – more security.
Jost advises against a large investment attack. “Future developments are uncertain for that,” he says. One can diversify a small portion of the portfolio with Bitcoin. But at the same time, he warns: “With Bitcoin, fluctuations in the value of a portfolio increase significantly.”
It remains to be seen how long the latest drive on digital money will last. Extensive expert forecasts show that Bitcoin is still a tool for speculative investors rather than serious investors: these range from exceeding $ 300,000 a year to another total collapse of the high currency.
Investing in Bitcoin is not rocket science. But stay tuned: The growing popularity of cryptocurrencies is calling more and more fraudsters to the spot, promising them the blue of the sky to suspicious investors. That’s why it’s safe for those who rely on Bitcoin to travel with an established financial services provider. Swisscourt, a Swiss online bank, is a pioneer in this field and has been trading Bitcoin since July 2017 – then the first regulated bank in Europe. Julius Byrne has been offering products with crypto components for over a year.
If you want to trade Bitcoin on your own, you must first create a wallet, an account for cryptocurrencies, with an online provider. Serious and dubious suppliers are also plentiful. Beginners should accept the higher transaction costs of Swiss providers for greater security – for example, Like, Relay or Bitcoin Suisse. The largest international suppliers include Binance and Coinbase. Bitcoin can be exchanged for national currency through these.
Once you have set up your wallet, you can buy Bitcoin not only online but also from a number of Bitcoin machines across the country. Bitcoin is also offered at SBB ticket machines. Its transaction fees are still horrendous. In addition: From the beginning of this year, customers must identify themselves when purchasing Bitcoin from CHF 1000. Cryptocurrency is primarily a barrier to investors who value its anonymity. Tribe of Levin
The assumption is growing: This is how a bitcoin machine works(01:06)