Image credit to Cointelegraph.com

Image credit to Cointelegraph.com

Before I continue with this article I will remind you that this is a very common question and would like to state that this is not investment advice, always hire someone that is a professional if you require investment advice and always do your research and never invest more than you are willing to lose. If you want my personal opinion then please do read on.

Bull Run

Before discussing if it is too late due to the current bullish price we should first understand why we have seen this sudden increase in price. If you are new to cryptocurrency then you will have heard about "something " happening but if you are quite intermediate or a professional trader of Bitcoin then you will certainly know all about the Segwit and Hardfork.

Bitcoin has a consensus on how we are going to scale Bitcoin, the reason why we had this was because that the Bitcoin was growing so popular that the blockchain started to struggle with transactions being delayed and even lost in the blockchain. So in order to improve this a consensus needed to be reached on how to fix these issues, there were a few proposals on this. Increasing the block size so that more transactions could be achieved and Segwit were the main options. The main bitcoin community opted for Segwit, although not everyone agreed, this meant that we had a new Bitcoin ( this is where the term fork comes from ) called Bitcoin Cash. The fork happened on 1st August 2017 and what this meant was that if you held any Bitcoin in your private keys then you would have had an equal number of Bitcoin Cash.

Many people were worried that Bitcoin Cash would become so popular that it would replace the main Bitcoin and the price would crash but actually we saw no crash so because of this and all the above it gave people a LOT of confidence in the future of our main Bitcoin (BTC) and so people started to invest more and hence we see our big price run.

Bitcoin-babysteps

Baby Steps

All the above is still not even known to so many people in the world but the more that Bitcoin is spoken about in the news we see more people learning about Bitcoin and more importantly they want to learn more about the crypto currency world. There are still millions upon millions of people in the world that has no idea about what your currently reading so that alone is a huge market for people that want to even create products around Bitcoin education.

There is a bright future for Bitcoin, more and more places are starting to accept it as a form of currency for example the supercar company Lamborghini accepts payment in Bitcoin and I believe we will see more large companies adopting it soon.

Taking all this in to account then I believe we are still learned to walk here and just getting ready to walk towards our next crypto milestone.

Corrupt Countries

I think that cryptocurrencies is good for any corrupt country where the people don't really trust the banks or government...I know a bold statement right? Well think about it, the government can take your house but they can never guess your private key or force you to hand it over. You will always have your own access to crypto and it is never governed. This is a reason why actually crypto currency is very popular in these countries. By having a currency that is decentralised it is a big advantage to people.

Countries that have better governments maybe haven't realised this fact and felt the need to have crypto currency and see the real value of this system where actually inflation doesn't effect your money. With time and experience people will learn that Bitcoin will gain more traction and value, maybe a financial crash would shake people up and again, just as a corrupt countries have, more people will turn to crypto trading.

Long term

I really do think that Cryptocurrency has a bright future especially Bitcoin and Ethereum, Bitcoin being the main winner here as it has proven itself on many levels even with the recent fork. It has a strong glimpse of being a part of the future currency when more people become aware of this decentralised way of earning and living. I believe Bitcoin will gain more and more Traction.

So for short term is it good ? at the moment not so much as it has held its ground well and became quite steady, but again we don't know what is around the corner which only strengthens the need to hold your coins.

Again I am not giving investment advise here but my honest opinion is that Bitcoin and Ethereum have a strong future and I would always say hold some coins for the future especially when we look back on the last 7 years.

Is it too late? No we are just warming up :)

What's your thoughts on this subject ? I would love to get some insight from you guys.

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