So many people get caught up in the cryptocurrency frenzy and think, ‘ I missed out, I am too late or the coin is too expensive.’ Discouragement hits many, especially when the greed index rises after watching a few cryptocurrency influencers on YouTube. The truth is everybody is early to Bitcoin.
Bitcoin is a stable currency; however, many new cryptocurrency investors get into crypto using altcoins, thinking it is impossible to buy Bitcoin when it is sitting at that price. Traders prefer to get into a coin that will yield 10x to 100x gains, most of which have no real use case. The following reasons explain why everybody is early to Bitcoin.
Market Shifts
The global market is going through an economic shift, usually marked by a new currency or technological advancement. Cryptocurrency is the new technology in this shift, and it is also a form of currency; therefore, it carries so much economic weight.
Volatile Price Movements
Satoshi founded Bitcoin in 2008 with a market price of $0.0008. The coin now sits at $55,000, a price that keeps fluctuating. In 2021, Bitcoin’s ATH was $64 804.72 before crashing to below $30,000.
The price of Bitcoin keeps fluctuating, meaning the currency is highly volatile. This means it is easier to get into it at any time, especially during a bearish market. Bitcoin is a coin designed to reduce in supply as more people buy it. The price instability means anyone can get into Bitcoin; therefore, everyone is early to Bitcoin. When the price remains at a constant ATH in the future, the coin will be rare like gold. Using technical analysis models such as the ‘Stock-to-Flow’ model shows the price will reach $1million.
Few Users
Bitcoin has an estimated number of users like those that the internet did in 1997 when it was beginning. However, the coin has a fast growth rate as people are looking for new investment opportunities and passive income opportunities. By 2025, the number of users might be 4 billion.
Inadequate Knowledge of the Coin
Many people are unaware of cryptocurrency, its value, and its functioning, meaning we are still very early. It will only be late when everyone is conversant with the coin fully, just like the fiat system. Constant hacks on CEX’s and wallets show too that the markets are adjusting to the coin by developing new technology to make it stable and secure.
Controversies Surrounding the Coin
Controversial issues and heated discussions revolve around the coin too. Countries like China fight the coin because governments and banks fear losing control of the new form of currency. However, some are adopting it, like El Salvador. A topic with heated discussions is not fully established; therefore, everybody is early to Bitcoin.
Bitcoin for the Future
This coming era is the cryptocurrency era, and this is simply the beginning. Many investors like Michael Saylor got into investments during global shifts like the dot.com era and made wholesome profits. This is to state that anyone can get into Bitcoin and become a billionaire in the future; everybody is early to Bitcoin.