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SHOULD YOU INVEST IN BITCOIN?

Get the facts about trading Bitcoin before you start. Discuss investment
strategies, review market research, and get real-time updates



52,867,923 Bitcoin positions opened on eToro

Buy BTC
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BTCBitcoin
35044.28-163.83 ( -0.47%)
DASHDash
94.6 (1.14%)
buy
LTCLitecoin
105.98 (-0.65%)
buy
MIOTAIOTA
0.7588 (-0.17%)
buy
DOGEDogecoin
0.134 (-0.89%)
buy



INVESTING IN BITCOIN: WHAT TO CONSIDER BEFORE YOU BUY BITCOIN

Bitcoin is the first cryptocurrency in the world, launched in 2009. It is also
the first wide-scale, real-world application of blockchain technology. Bitcoin
(BTC) is a decentralised network which uses a public ledger to approve
transactions, eliminating the need for third party approval (such as a bank). It
also operates free of a governing body, such as a central bank, and all changes
in the network require consensus from its members. While initially BTC value was
extremely low, priced at fractions of cents, it picked up steam over the years,
reaching price levels in the thousands of dollars for a single Bitcoin token and
a market cap in the hundreds of billions.

The Bitcoin chart often displays extreme volatility, having short-term price
spikes and tumbles. Sometimes, when the Bitcoin price is on the rise, more
people are inclined to buy Bitcoin, fueling its positive run further. On the
other hand, when the Bitcoin value is on the decline, it can prompt existing
investors to sell their Bitcoin and push prices down. Moreover, Bitcoin is
considered the bellwether of the cryptocurrency space, so it can often generate
industry-wide trends.

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Still not sure if you should invest? Read more below



HISTORICAL PRICE CHARTS






READ MORE ABOUT BITCOIN


Who should include Bitcoin in their portfolios?

 1. Cryptocurrency traders: Bitcoin is the most well-known cryptocurrency, and
    therefore, many crypto traders buy it as part of their cryptocurrency
    portfolio.

 2. Long-term investors: While still considered an extremely volatile and risky
    market, Bitcoin has shown tremendous price increases over time. Therefore,
    those who believe the overall trend will be positive could consider a
    Bitcoin investment.

 3. Day traders: BTC prices can often have significant price swings over the
    course of a few hours. Traders can try to take advantage of these movements
    in an attempt to generate short-term profits.

 4. Blockchain enthusiasts: Since Bitcoin is the first major application of
    blockchain technology, those who have faith in the technology and its
    potential impact on the tech and financial industries, could consider buying
    Bitcoin.

What drives Bitcoin’s price?

Bitcoin is a highly volatile instrument that has experienced tremendous price
movements over the years, sometimes gaining hundreds of percentage points or
crashing significantly over a relatively short period of time. While it is less
affected by happenings in mainstream markets, it can be affected by a variety of
factors relating to the crypto space, the blockchain industry and by regulatory
issues. Here are a few examples:

 1. General crypto trends: In late 2017, cryptocurrencies were heavily debated
    in the media. People, who previously hadn’t heard of the crypto, started
    asking how to buy Bitcoin. This sparked a massive crypto bull run, which
    peaked in December of 2017 when nearly all the major cryptos reached record
    highs.

 2. Mainstream market volatility: Bitcoin and the rest of the crypto industry
    operate separately from other markets. Therefore, when mainstream markets
    are on the decline or become too volatile, some traders and investors turn
    to the crypto market as an alternative.

 3. Traditional financial institutions: Over the years, there have been several
    attempts to introduce Bitcoin into mainstream markets in the form of ETFs,
    futures contracts and other financial instruments. Since many of these
    instruments require regulatory approval, traditional regulatory bodies, such
    as the US Securities and Exchange Commission (SEC), could have a major
    impact on the market, whether they approve or deny such instruments.

 4. The blockchain industry: Some experts believe that blockchain has the
    potential to revolutionise many areas of the technology and financial
    industries. Bitcoin is the first and one of the largest blockchain networks
    in the world, and as the technology becomes more widespread, more people
    might be inclined to buy BTC.

Bitcoin: Miners and Forks

The way Bitcoin works as a decentralised network relies on its members, some of
which are miners. Miners allocate computing power to carry out transactions and
are rewarded a small fee for each transaction. Since these processes require
computing power and electricity, Bitcoin miners are usually those who invested
significant sums of money to build mining computers.

However, miners have another key role. When the Bitcoin blockchain network needs
to undergo a change or an upgrade, it needs the approval of its members, which
can signal whether or not they approve the change. If the change is significant
and makes the platform backward compatible, it is known as a hard fork. When not
enough participants approve the change, a hard fork results in a parallel
blockchain network being created.

Such was the case with the Bitcoin Cash hard fork in August 2017. With this hard
fork, a group of developers intentionally rolled out a protocol they knew would
be rejected by some members of the network, hence creating a hard fork and a new
cryptocurrency. Bitcoin Cash became incredibly successful, reaching a market cap
in the billions and becoming a top 5 crypto.

History of Bitcoin

Bitcoin was founded in 2008 and launched the next year by an unknown person or
persons using the pseudonym Satoshi Nakamoto. While initially it was only
adopted by blockchain enthusiasts, the fact that it enabled users to carry out
transactions quickly and while maintaining their anonymity, made its popularity
grow exponentially over time. The first purchase of physical goods using Bitcoin
ever made was 10,000 BTC for two pizzas, in 2010. The same pizzas would be worth
$190,000,000 in January 2018.

As Bitcoin became more popular, numerous other cryptocurrencies were created.
Some were built on the same technology, while others created blockchain
protocols of their own. However, despite growing competition in the crypto
space, Bitcoin has maintained its place as the world’s largest crypto by market
cap for many years.

Conclusion: Can Bitcoin remain the king of cryptos?

Much has happened in the crypto industry since Bitcoin was the only
cryptocurrency in the world. Growing rapidly in number, there are thousands of
cryptos today, many with significant market caps and trading volumes. However,
Bitcoin remains at the forefront of the industry, if only due to its sheer,
massive size. As the industry progresses and diversifies, there is a possibility
Bitcoin will lose its place as the largest crypto. However, such a scenario
seems very unlikely in the near future, and Bitcoin could very well maintain its
spot as the world’s top crypto for years to come.

*Cryptocurrencies can fluctuate widely in price and are therefore not
appropriate for all investors. Trading cryptocurrencies is not supervised by any
EU regulatory framework.

*This content is for information and educational purposes only and should not be
considered investment advice or an investment recommendation.

*Past performance is not an indication of future results. Your capital is at
risk.

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Past performance is not an indication of future results.
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Cryptoassets are unregulated in some EU countries and the UK. No consumer
protection. Your capital is at risk.