Is 2019 a good year to buy Bitcoin or other cryptocurrencies? There's always good reason to be skeptical of astronomical price predictions, but the signs are looking good that buying Bitcoin today could be a profitable move. These are the top 5 reasons to invest in a cryptocurrency today.
#1 Investors Are Losing Faith in Stocks
Investor confidence in the stock market appears to be wavering. The last days of 2018 had stock markets bleeding red. A few bad days in December wiped out all the gains investors had made throughout the year and then some, with the S&P 500 losing 6% in 2018. It's a good indication that trade wars and political uncertainty are finally catching up with an otherwise strong economy.
#2 Predictions for Alternatives Are Modest
Bitcoin as an asset class is most often compared to gold. Both are alternatives to the stock market and both can see radical price swings up and down. Predictions for gold prices in 2019 are positive but modest, with an optimistic outlook pointing to $1,500 an ounce.
Investors who are hungry to see bigger returns on their investments are still going to be drawn to cryptocurrency. While the crash of 2018 was part of Bitcoin's maturation, Investing Haven, the same publication predicting $1,500 gold (at best) is also predicting Bitcoin could reach $25,000 in 2019. That's a lot more modest than their predictions for 2018, but they're taking into account Bitcoin's growing use, the rise of Bitcoin ATMs, and its post-crash maturation.
#3 Smart Contracts Are on the Rise
Ether, the cryptocurrency powered by Ethereum, is the leading cryptocurrency for use in smart contracts. Smart contracts allow companies and freelancers to set the terms of a contract using the blockchain. Once the conditions of the contract have been met, payment is automatically sent.
Businesses are increasingly using smart contracts to cut down on wait times for getting paid, as well as a way to reduce payment processing fees imposed by banks or other types of payment processors like PayPal and Venmo.
As more companies explore decentralized payments and more efficient ways to create contracts, expect Ethereum to become increasingly useful as a business solution. More businesses are engaging their customers and partners with smart contracts, speeding up the process of completing contracts and payments. Ethereum is more than just an investment, it's growing as the currency of an innovative business solution: smart contracts.
#4 The Crash Cleaned Up the Mess
The Bitcoin crash in early 2018 cleaned up a lot of the mess created by rampant speculation coming in too quickly. With that crash behind it, future Bitcoin valuations will come closer to real demand for the world's leading cryptocurrency.
#5 Cryptocurrency Futures
While Bitcoin ETFs met some initial resistance from the SEC, many believe that some kind of cryptocurrency futures is an inevitable financial product. Bitcoin ETFs are going to radically change the world of Bitcoin as institutional investors and major Wall Street firms will become interested.
By the time Bitcoin ETFs finally are approved, it will be too late for investors seeking the edge that delivers better returns. To get ahead of the curve, stop by Bitbuy and buy Bitcoin and other cryptocurrencies directly.
There are many cryptocurrency exchanges you can use today to buy Bitcoin. Exchanges like Bitbuy allow you to buy Bitcoin and other cryptocurrencies at low fees, directly with Interac.
Don't let 2019 pass you by without finding out why investors are moving their money into cryptocurrency. Even if investing isn't your angle, the growth of retailers accepting cryptocurrency and the rise of smart contracts mean there are plenty of reasons to own cryptocurrency.
