Think back to the peak of they 2017 hype bubble and recall the dismay of investors who either missed out on buying Bitcoin cheaper, or regretted not buying more of the then skyrocketing crypto asset.
Then the bubble burst, the price of Bitcoin crashed well over 80%, giving crypto investors the chance they had hoped for in buying more at low prices. Now that Bitcoin is back trading above the important level of $6,000, those that missed the bottom will regret not buying back in December or at the start of 2019, and those that did catch Bitcoin lower, like all investors of the crypto asset, they will wish they bought more at the time.
It Doesn’t Matter When You Buy, You’ll Still Wish You Bought More Bitcoin
Buying Bitcoin at any point of 122 out of 125 months in existence would have led to positive returns for investors in the emerging financial technology with potential to disrupt money as we know it. Only three months has the price of Bitcoin been higher than it is currently, leading to those that bought in during those three months – around the height of the hype bubble – to be in the red.
Related Reading | Only 3 Months Exist Where Buying Bitcoin Resulted in Losses
Despite the losses, eventually, they too will wish they had bought more Bitcoin. In fact, according to career trader Rhythmtrader, it doesn’t matter what year an investor bought BTC, “everyone always wishes they had bought more” or the crypto asset created by Satoshi Nakamoto.
1 year: +4%
2 years +194%
3 years: +923%
4 years: +3,039%
5 years: +1,101%
6 years: +6,320%
7 years: +144,912%
No matter what year they bought bitcoin, everyone always wishes they had bought more.
— Rhythm (@Rhythmtrader) June 6, 2019
Those that bought into the cryptocurrency prior to seven years ago, experienced returns beyond 144,000% – gains that are completely unheard of in traditional asset classes. Each year, the percentage of gains diminishes, as the price of the cryptocurrency grows. This further adds to the fact, that anyone who bought Bitcoin in the past, no matter when it was, likely wishes they had taken a bigger position.
In the future, Bitcoin is speculated to reach prices of $100,000 to “millions” per BTC. If that truly is the case and its potential as a global reserve currency is ever realized, absolutely ever individual person ever to invest a single penny into BTC, will have wished they were able to buy more.
Related Reading | Buy Bitcoin: Why Dollar Cost Averaging Is the Crypto Investor’s Best Bet
Buying Bitcoin is as simple as a few clicks in most cases, and can be purchased everywhere from cryptocurrency exchanges, smartphone apps, physical ATMs, LocalBitcoins, and even at Coinstar machines. The ideal strategy for investing into Bitcoin is through a recurring buy strategy called “dollar-cost averaging” which has proven to be especially helpful for crypto investors who can struggle trying to time tops and bottoms in a such a highly volatile market.
Featured image from Shutterstock
Credit: Source link