No, it’s not too late to invest in Bitcoin and at the current level also, Bitcoin is still available at a cheap rate with lots of upside potential. Yes, the statement is true and is backed by solid facts.
Let’s have a look at the price behaviour of Bitcoin compared to 2017’s crypto rally.
Source: Chainanalysis
In the above chart, you can witness, the number of Bitcoin investors is more than the traders and the price reversal occurred when investors outnumber traders. A clear indication that the price rally is due to accumulation and there are no signs of slowing down.
Source: Coinmetrics
The above chart indicates increased retail participation with the number of users holding Bitcoin worth more than or equal to $100 has surpassed the 2018 level.
Source: Coinmetrics
Bitcoin halving is one of the most important technical events in the Bitcoin blockchain and the above chart shows how the price of Bitcoin tends to shoot up following Bitcoin halving. According to the popular Bitcoin S2FX model, Bitcoin’s price could be around $100K by December 2021.
Conclusion
Over the last two years, the Bitcoin’s fundamentals have changed significantly and the price rise is very different from 2017’s rally. With all indications showcasing increased participation from both retail and institutional participants, changes in regulations (Germany recently recognized Bitcoin as a financial instrument), ability to hold value during the global crisis, Bitcoin will continue to offer value.
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