After an intense bull run in late 2017, the cryptocurrency market took a nosedive and has since struggled to recover. In turn, this has resulted in many investors losing faith in the industry. Some people even claim that cryptocurrencies are dead already.
However, according to experts, the doubters couldn’t be more wrong. In fact, the cryptocurrency expert over at BullMarketz.com has 7 good reasons why it’s not too late to invest in cryptocurrencies
The Cryptocurrency market is already 10 years old
As someone who has been interested in cryptocurrencies for years, I see one main problem with the industry-doubters. You see, a vast majority of the people that have invested in the past two years are first-time investors that only recently became interested in cryptocurrencies. And what these people tend to forget is that the cryptocurrency market is much older than their interest.
Bitcoin was launched in 2009 and has since grown several thousand percent, and the recent recession is only one of many that have hit the market in the last decade. While many of the most popular assets today are quite young and already doomed in the long run, the market and the concept is much older and stronger than that.
The industry is too valuable
As of early October 2018, the cryptocurrency market is worth over 220 billion dollars, and you can’t just wipe that kind of market away. Furthermore, there are several massive cryptocurrency exchanges making billions of dollars every year, and they aren’t going anywhere either. Neither are the traders, developers, enthusiasts, and everyone else that is benefitting from the industry.
Not the first bear market
Yes, the cryptocurrency market is currently in an extended bear market, but it’s not the first time, and it definitely will not be the last. Just like in any market, prices and trends fluctuate – that is a basic economic rule.
Also, as mentioned, the current total market cap is over 220 billion dollars, which is almost twice as high as it was this time last year. In other words, over a year-to-year basis, we’re still in the green with great margins.
Once again, I believe this is because most people that are doubting the future of cryptocurrencies got into the game late and all they see is losses. People who joined earlier are still making a profit.
Regulation is coming
All of the world’s governments have already realized the potential of the market and the fact that it’s not going anywhere, which is why they’re all scrambling to regulate it. Just think about it, would the world’s leading economists try to regulate a dying market?
Our future will be cashless
We can already see signs of this happening across the world. For example, Sweden is struggling to keep their economy stable due to a lack of cash usage in the retail industry, and they are now looking into options of creating a national digital currency.
Understandably, credit and debit cards are one part of the solution to a cashless society, however, cryptocurrencies will, and in some ways already are, another important part of the change.
Mass-adaptation of blockchain technology
Most hard-core cryptocurrency believers are more interested in the underlying blockchain technology than the cryptocurrencies themselves. This new technology has already helped revolutionize certain aspects of our society, and there is no doubt that blockchains will play a central role in our future.
For the past few months, new blockchain patents have been filed weekly by the world’s largest companies.
Always invest at the bottom
The last and in some ways the most obvious reason why it’s not too late to invest in cryptocurrencies is that there will always be a new bull market. It might not happen this year or even the next, but trust me when I say that this is not the end of the cryptocurrency market.
In fact, according to many experts, we might have already reached the bottom, and the next bull run might be around the corner.
So if you can, invest now and buckle up for the ride because cryptocurrencies are here to stay.
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