Bitcoin is too young to die

Yes, Bitcoin has been around for over a decade. But compared to other investment options, its storypretty short.The 2017 crash is often cited as the reason the asset poses a risk. It is simply impossible to study its long-term history to identify trends. The sudden crash in 2017 coincided with news of cyberattacks on a Bitcoin wallet. Although the price has fluctuated over the years, it is difficult to say how other events might affect its value.

In general, regarding cryptocurrencies, there is no possibilityuse profit and loss statements and other information applicable to shares. If you do decide to invest in bitcoin, be sure to research it and your competitors to make a fully informed decision.

There were dangerous precedents

You may not be able to track your cryptocurrency onfor decades, but there are precedents from other sectors. The stock market has seen many bubbles in the past, including the dot-com bubble in 2000. When a particular sector experiences a huge surge, it is only a matter of time before a devastating decline occurs. Experts have already expressed concern about the current thriving stock market. Now he looks great. However, despite the worries, savvy investors continue to stuff their portfolios with stocks and other exciting instruments. I know firsthand that even investors with million-dollar brokerage accounts avoid risky investments such as cryptocurrencies.

Almost nothing can be bought with digital currency yet

Enthusiasts will say that someday digitalcurrency will replace all others. But despite the fact that many people want to invest in crypto, it is unlikely that it is ready to end up in real wallets anytime soon. Yes, the number of those who accept cryptocurrency as payment has increased. But it’s not that simple. Usually, in order to spend bitcoins, you have to use a third-party service, and many do not want to face this, losing money on fees for providing such services.

Hence the problem - bitcoin owners do not spendthem. They buy by keeping. In fact, 60% of bitcoins are held as long-term investments, with their owners spending less than 25% of the bitcoins they bought. An estimated 20% of bitcoins have not been transferred anywhere in the past five years or more. Loss of bitcoins occurs when the owners cannot find their passwords and access their wallets. As far as I know, recovering the password is almost impossible.

What's in the bottom line?Only 19% of Bitcoins are in regular circulation. To truly take over the world, Bitcoin and other cryptocurrencies will need to partner with mobile payment services such as Apple Pay and Google Pay, Visa and MasterCard.
I think people will also have to stop thinking of Bitcoin as an investment in favor of a payment method for it to truly replace cash.