Bitcoin is already above $ 50,000, has that ship already sailed? How and when to buy Bitcoin in 2021?

If back in March 2020, when the price of Bitcoin fell to $3,700, an ordinary cryptocurrency investor or trader was asked if he believed that in a year the price would increase more than 15 times, by 1,571%, the answer would most likely be negative. Not everyone is fully aware of the prospects of the flagship cryptocurrency, even now, when its potential is just being revealed.

Of course, such a “bloated” industry could be called a “bubble”, but the fact is that Bitcoin attracts people as an alternative to traditional assets that are controlled by the state or large corporations. Bitcoin is independent of third parties and is not managed by them, even if large players acquire most of the currency and deliberately bring down the price, this will not force competent BTC owners to sell their assets.

Those who understand that the issue of currency is still ongoing, there is only a limited amount of BTC on the market, and the reward for mining is reduced, should be resistant to short-term negative market manipulation. Even if the price falls below the previous minimum value, it will still reach new peaks later.

This is a historic moment for the cryptocurrency industry. The price of Bitcoin is trading at its maximum values, so there is a natural question: “When to buy Bitcoin in 2021?”.

Is it worth buying Bitcoin now?

This question can arise for everyone at any time and it is time to finally decide with an answer. Today, Bitcoin is worth 1 thousand dollars, tomorrow 10 thousand, in a month 500 dollars, and each time you can doubt the decision to buy this asset.

As strange as it may seem, but with Bitcoin, the question of price is secondary. The main question is, are you ready to invest in this asset and what confuses you about it?

After all, if you look at the entire history of Bitcoin price movement since its appearance, you can see that at the moment, in whatever year you did not buy it, you would have fixed a profit much greater than you could offer absolutely with any other assets.

Smart investments involve long-term investment of your funds in an asset. If you want to try to get rich on Bitcoin in a few days, weeks or months, then this can be attributed to gambling rather than investing.

Therefore, you should not think about the price today, when you want to invest, you just need to understand that in two, three, even in five years, your invested funds will multiply over and over again.

There is such a concept as “Fear of missing out”, abbreviated as FOMO. Every time you see a drawdown in the price and think:” What would have happened if I had invested a little earlier/later at a better price?”, you are only putting yourself under psychological pressure.

There is no guarantee that an investor, waiting for the price to fall, will eventually be able to increase their capital, so if you have serious intentions, you just need to decide to act.

Among other things, you can simply divide your capital into equal parts, create a strategy and plan for investing in Bitcoin and invest gradually in parts. In this case, you are guaranteed to have several entry points to the asset, from each of which you can eventually make a profit.

For example, Anton Katin, Simba.Storage founder — custodial storage for Bitcoin, since 2017 and to this day recommends that everyone buys Bitcoin using one very simple, but at the same time effective strategy: “Buy Bitcoin every month for a free amount, regardless of the price of Bitcoin, buy and store it securely, do not give in to emotions when the price of BTC goes to correction, at this point you should also buy. In the long run, you will win and your investment will be increased many times.”.

The result of such recommendations is clearly visible on the Bitcoin chart.

Where to store Bitcoins purchased for a long storage?

Any investor who decides to buy Bitcoins is obliged to take care of their safety, particularly, this applies to any valuable assets.

Bitcoins can be stored on your hard drive on your computer or on hardware wallets with a high degree of protection, which is called cold storage. This is the most secure method, since hackers are not able to hack such wallets, but there are still risks of theft of the physical media.

You can store Bitcoins on online wallets, exchange accounts, and so on, and access to such wallets requires an Internet connection. This is an insecure option, as attackers can hack into a wallet account or an account on an exchange, and then withdraw the funds.

The best option for investing in Bitcoin is specialized storage. As a rule, they combine the advantages of cold and hot storage, hardware wallets are stored in secure locations with round-the-clock security, while there is a software component that allows customers to monitor the status of their assets. In some cases, customers can be given cryptocurrencies in exchange for the invested funds, so that if necessary, to make any emergency payments, the funds are always at hand.

An example is Simba.Storage, a storage facility located in Switzerland. Leaving your Bitcoins for storage, you get SIMBA stablecoins (ERC20 tokens backed by Bitcoin), which you can dispose of at your discretion, they are suitable for all types of payments and transfers. If you lose access to your account from the vault, you can always restore it by going through the KYC procedure.

An obvious advantage of any Bitcoin storage will be its location. At the moment, as a rule, everyone prefers Switzerland, where there is already a fully formed legislation regarding cryptocurrencies. Switzerland is home to Crypto Valley, which unites all the giants of the industry, as well as the most promising startups. Switzerland also has a high standard of living and a low crime rate, which significantly reduces the risks of organized storage hacking and theft of funds.

This is a reality, not an advertisement for Switzerland, especially since many countries are now also looking towards the development of the cryptocurrency industry, for example, the United Arab Emirates, New Zealand. By the way, Simba.Storage is also planned to be started in these countries.

Is it possible to expect a high profit in the future when investing today?

Based on all of the above, it is safe to say that in the future, Bitcoin will bring a higher profit than any other asset. It may not grow, for example, 10 times in a year, thus not meeting someone’s expectations, it may even expect a correction or a strong drawdown of the price in the foreseeable future.

Despite this, it will absolutely grow in price strongly in the long term due to a number of factors that will remain unchanged, namely:

• The limited supply is inherent in the program code. After stopping the emission, it will be impossible to resume it;
• Growing demand from people from all over the world;
• Growing interest from corporations;
• The increasing popularity of blockchain technology, which was given to the world by Bitcoin;
• The reduction of the reward for mining is also spelled out in the program code. The growing costs of emission (mining), lead to an increase in the price of the asset.

The above are just dry facts, if you wish, everyone can analyze the asset and make sure of it, then the answer to the question “Bitcoin is already above $50,000, has that ship already sailed?» will be obvious because Bitcoin is only at the beginning of its journey.