In recent months, Bitcoin has finally moved on from being discussed in fairly niche, restricted circles, where people have heard of the mystical creator of the cryptocurrency, Satoshi Nakamoto, but not much else, to being fully embraced by the fabled Mrs. Watanabe group of housewives in Japan, as well as making headlines around the world due to a meteoric rise that has brought with it plenty of speculation, both positive and negative. This speculation has the potential to cloud investors’ judgment when it comes to the world’s leading cryptocurrency.
While, of course, the currency has seen some volatility during this period, the intense scrutiny, as well as calls for regulation, have started to fade a little, and we have started to see governments (ironically, considering that Bitcoin is designed to sit outside the control of governments) like the Japanese one embrace the currency as legal tender. In addition, Bitcoin is now being accepted more widely as a form of payment, with companies like Expedia among those now allowing people to use their bitcoins to buy products, helping to shore up its value.
Still worth backing
The resilience the cryptocurrency has shown means that it is now fairly stabilized. Indeed, it has recently been opened up to investment to a huge number of people, as it has been decided that Bitcoin is to be considered halal for those who follow the Muslim faith, according to CoinList. This news helped to create a new spike for the currency and saw it gain new heights of value as new potential investors were able to start looking at investing in a currency that is unique in the way it relies upon the trust of those who use it to help to establish its worth.
— Cryptocurrency (@crypto_coinhub) April 16, 2018
With technology continuing to improve, Bitcoin is becoming ever more secure, both online and offline, and the chances are that the currency is likely to continue to experience success and be a worthwhile investment, considering how flat so many investment opportunities are in 2018. The increased exposure of the currency as well as the fact that more and more websites are devoted to helping ordinary investors know where to buy Bitcoin safely just helps with this trend.
The millionaire dream
It is arguably the dream of ending up a millionaire that helps to inspire so many ordinary people to want to look for ways to invest their spare money, especially as savings accounts are now paying investors virtually nothing. The fact that Bitcoin can provide huge returns to savvy investors makes it a tempting proposition.
— EOT (@EOTCOIN) April 12, 2018
What must be acknowledged is that, while the wave of Bitcoin may still be riding high, those individuals jumping on it now need to accept that the initial upward spike in valuation that saw so many incredible stories of people earning millions from tiny investments has changed slightly as the spikes have plateaued. Indeed, as Bitcoin continues to become more and more mainstream for investors and therefore continues to be seen as a secure way of investing money, those looking to invest must now be aware that the currency is unlikely to return huge payouts in the way that it did previously, but can be viewed as a way to supplement savings in a manner that could still be lucrative.