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Over the last few years, crypto-currency has been performing well. There have been times when it hasn’t, but that depends on the time when you invest. For example, in December 2017, anyone could make a profit while its performance in 2019 has not been so well. If you are a beginner wondering in which cryptocurrency to invest or someone who wants to make a safe bet, keep reading.
Before moving on to the prospect of investing in cryptocurrency in 2019, let us look at the basics of cryptocurrency.
What is a cryptocurrency?
Anyone who has heard of cryptocurrency has heard of Bitcoin as well. Bitcoin was the first cryptocurrency. Although invented back in 2009 it wasn’t until 2013 that people found out about it and started to invest in it. It is in 2013 that cryptocurrency became a proper market which had the potential to attract a lot of investors, such as any other retail market out there. Bitcoin and Ethereum are the two cryptocurrencies which have seen immense growth. There are more than 1000 types of cryptocurrencies available and have been invented over only five years.
The market skyrocketed in 2017, where the investors saw immense growth. It started with 21Billion Dollars to 454 Billion Dollars as of now. The best part about cryptocurrency is that there are many currencies to invest in other than Bitcoin and Ethereum. Litecoin and Ripple have also done considerably well over the last few years.
Some critics have always been sceptical about cryptocurrency and believe that it is just a phase which is temporary while
others say and SEO experts at Healthy Links also agree that this is the right place to invest in and will remain around for a much longer time, if not forever.
The reason why experts have been positive about cryptocurrency and vouched for its growth is the blockchain technology. It is a secure technology, and all cryptocurrencies (yes all of them) use this technology.
Investing in 2019
While all currencies have been profitable, it is essential to understand a successful investment is the one that is done in the right currency at the right time. If one can predict and understand that, then the investment will always be profitable.
As mentioned earlier in the article, Bitcoin is the oldest and possibly largest cryptocurrency. It has 40% of the market shares of cryptocurrency, and it has grown since 2017. If the growth continues to increase as it did in 2017, then Bitcoin can be a good investment.
The price of Bitcoin fluctuates, and to make a safe investment, it is vital to look at the patterns in which the price changes every day. The price changes quickly, and it becomes hard to pinpoint when to invest. If you want to invest in Bitcoin, always keep yourself updated with the market and its trends. If any new technology is introduced in crypto, you should consider buying Bitcoin.
Secondly, if the price of Bitcoin falls that too can also be an excellent time to buy. It means you buy at a low price and you will profit even if the price goes a little high. Big investments are always risky, so refrain from buying when the price is high. Another valuable rule is to observe the market for some time before investing in understanding how the market fluctuates.
Currencies other than Bitcoin:
In 2018 when Bitcoin was falling the market for Ethereum increased. At the start of 2018, the price of Ethereal climbed to $1400. Ethereum has also been the second largest currency in 2017, which makes it more profitable than others available.
Another great thing about Ethereum is that it is not just a currency, but you
can also build your currency using its advanced blockchain. Other blockchain projects can also be launched, which makes it easier to use as compared to others.
By looking at its price chart, it is safe to say that it can be one of the best currencies to invest in 2019. Experts have predicted that its price will rise by at least $200 Billion by the end of this year.
Moreover, further developments are in the pipeline for this currency. Ripple and Litecoin have also grown since 2017.
Ripple has dropped, which makes it easier for you to invest in. Many investors have made a lot of money through Ripple.
2019 is a good year for the cryptocurrencies mentioned above. So if you are looking to invest, then go for it but keep in mind the points mentioned above.