Is it still worth investing in crypto?

Cryptocurrencies have been around for about 14 years now, serving as an alternative to our traditional currencies. Popular ones like Bitcoin, Ethereum and Litecoin come to mind when cryptocurrency is mentioned.

In the past, Bitcoin for example skyrocketed in price to an astonishing $65,000 and putting early investors in the millionaire state. However, such a feat has never been replicated by any other cryptocurrency including Bitcoin itself. The question that comes to the mind of many prospective investors is "is it still worth investing?". You are not alone alot if you are experiencing that dilemma.

Many people have expressed their views on this topic, stating that the end has come for crypto and no one can really benefit from it to achieve millionaire status. Personally, I oppose these comments that many pessimist make concerning crypto. Let me explain to you why I think so.

Most cryptocurrencies have been designed to be deflationary, as opposed to our traditional currencies such as the dollar which have been designed to be inflationary, meaning that it loses it's value bit by bit as the years go buy. This is the opposite for crypto as it's price is meant to increase year by year.

The principle of supply and demand would help us explain this better. Probably you may have heard of crypto halving such as Bitcoin halving, Litecoin halving etc. These are events that reduce the number of coins being introduced into circulation by miners approximately every four years. This would eventually reduce the supply of the coins as the years go buy and the supply remaining constant or even increasing tend to increase the price value of the coin.

At the rate at which crypto is growing and gaining prominence, it is highly probably companies like apple and Tesla the latter being owned by Elon musk, who is a crypto enthusiast himself are very much likely to adopt cryto for transactions. This is how future increase supply would probably occur since non-cryto traders may even adopt it for it's fast and more secure transactions.

It would only be a matter of time for these events to occur. Remember that " time in the market beats timing the market". If you are looking to quickly make huge profits from trading, then the market might not probably be best suited for you.

Thanks for reading and I wish you the best in your trading journey.