- Bitcoin has established itself as an alternative new-age financial instrument.
- There is a steady increase in the price of Bitcoin from 2017 to 2021.
The recent crypto market bloodbath is slowly ending with major coins turning green. Bitcoin is the most popular and valuable cryptocurrency at the most significant market capitalization. Since its inception, Bitcoin has established itself as an alternative new-age financial instrument despite its volatile character. Bitcoin’s worldwide acceptability and unrestricted pricing have made it a popular investment option for those looking for an alternative to the stock market.
Investors who have been patient with Bitcoin have seen excellent returns on their initial investments. Although the token has fallen dramatically from its all-time high of $68,789 USD, it has given almost a 130% return last year. There is a steady increase in the price of Bitcoin from 2017 to 2021.
Read More: Bitcoin Price Prediction
Altcoins Gaining Popularity
A prominent crypto analyst Lark Davis recently shared a tweet mentioning Bitcoin ROI if a user had invested $100 every week last year, further citing dollar cost averaging and how it affects it. Have a look at the tweet.
If you had invested $100 a week into #bitcoin for the last year you would currently be around 23% in profit.
— Lark Davis (@TheCryptoLark) January 23, 2022
Yes that includes buying both tops.
Dollar cost averaging is powerful stuff.
Many notable currencies, including Ethereum, Litecoin, and Ripple, have increased stature and value, while Bitcoin has remained the most popular in the investment community. These coins are regarded as long-term safe bets, and investors have reaped handsome rewards as a result. In 2015, Ethereum was trading at between USD 200 and USD 250, but it marked an all-time high above USD 4,000 in 2021.
Bitcoin and Ethereum’s high price points make it hard for inexperienced investors to amass vast amounts of virtual currency. Doge, Shiba, and other altcoins are gaining popularity due to new investors’ ease of purchasing 1,000 – 10,000 of them at the present market value.
