In the last 10 months, I earned a whopping $50k, would you believe it? It is pretty hard to convince people to make them believe that people can actually earn from Bitcoins. 2021 is probably the best time to invest in Cryptocurrencies, given the current market scenario.
When the Government announced the nationwide lockdown, the Bitcoin market totally collapsed. The price of Bitcoin fell to $3000. As a Crypto trader, I found it very depressing, but I decided to make this threat into an opportunity.
Unlike most other Crypto traders, I held on to my Bitcoins and started purchasing even more as the prices were already low. Many of my friends told me that Bitcoin was over and it would be a fool’s task to invest further in them. But me being myself did not pay heed to their words as I truly believed in the potential that Bitcoins carry.
Slowly more and more investors started to follow my trend. In a matter of a day, almost a million investors started buying Bitcoins. This sudden increase in the purchase of Bitcoins generated a bullish market, and the prices of Bitcoins kept rising and rising.
It recently reached its all-time peak of a staggering $42,000. This allowed me to earn more than $50K within just a span of 10 months. Visit advfn.com to know more about bitcoin trading
Top Reasons why you should invest in Cryptos in 2021
The trend of investing in Bitcoins has never been more alive. 2021 is probably the best time to invest in Bitcoins. Down below are the reasons.
1. The growing interest of the Government
The Bull run of Bitcoins in 2021 has made the Governments of various nations take a keen interest in Bitcoins. Many countries like Russia and China are on the verge of launching Cryptocurrencies.
Russia has taken a step further and named it ‘Crypto ruble.’ Germany has already legalized Bitcoins and has accepted Bitcoins as an alternative to fiat currencies. Sooner or later, all the countries are going to have to accept Cryptocurrencies.
2. Weakening US dollar
The COVID-19 pandemic weakened the US dollar by a lot. Furthermore, the stimulus packages have added fuel to it. Since March, the US Government has been announcing several stimulus packages to aid its citizens that were affected the most by the coronavirus pandemic.
Even though it is a very good gesture from the Government, the fact remains that more fiat currencies had to be brought into circulation to fill the void made by the stimulus packages in the US Economy.
This gave birth to inflation, and there had been a noticeable hike in the prices of goods and services. As there will be no inflation in Bitcoins, people are turning more to invest in Bitcoins.
3. Facilitation of digital payments
Let’s be honest; millennials don’t like to carry fiat currencies in their wallets. They want to make payments with just a tap of the phone’s button. Since Bitcoin is decentralized, it takes digital payments to a whole new level.
This is the single most important factor why you should positively invest in Cryptocurrencies. Firstly it works on peer to peer connection, and more importantly, it is not controlled by any regulatory body. Since it is decentralized, only you are held accountable for your finances.
More importantly, you are not obliged to give an account of your spending to any legal authority.
5. Bull’s Run in 2021
The Bull Run in 2021 has further motivated investors to invest more in Bitcoins. Bitcoin is no doubt a lucrative investment option, and the bull run has made it all the more interesting.
There you go! Now you know how I earned a whopping $50K in just ten months using Bitcoins. It is quite depressing to know the gravity of impact the coronavirus pandemic has left on the lives of people. But it has been good for Crypto investors.