Is Bitcoin The Best Investment For 2020?While 2019 was a great year for crypto and crypto regulation, 2020 is shaping up to be an even bigger and pivotal year for the crypto industry. Ten years later, gold has done well for itself touching a high of $1,542 per ounce and that's a fairly decent +38% gain In the last decade bitcoin, however, has gained a whopping +8,999,900% and this year alone, BTC has outpaced gold's market performance in the last ten years.
You will be surprised by knowing that there is also some cryptocurrency exist which has working no team or their price is totally manipulated by whales(traders or group of traders having a very large amount of money) and they exist just for fun and these have millions of market cap like Dogecoin.
It presents new miners with new challenges and also unique opportunities to come into the market when everyone else is leaving and then the price of bitcoin will go up. It all depends on your ability to analyze the market and correctly predict future changes.
With financial crises everywhere and the inflation rate rising rapidly, you will one day find that all those dollars you saved don't have much buying power in a decade or so. The wise thing is to invest them in something that will not depreciate over time.
The adoption rates are continuing to be quite steady, and adoption rates heavily correlate to the price, so therefore, unless for some reason people just simply stop continuing to adopt Bitcoin, we should see $200,000 per Bitcoin by 1st January 2020 at the latest.
Tai Wong, head of base and precious metals derivatives trading at BMO Capital Markets, emphasises the fact that the normal scenario for commodities, where rising prices leads to an increase in production that pressures prices lower, does not apply in this market.
I think you've already understood that and that's why you're looking at what the best investment for 2020 is. Since you have heard about Bitcoin as the best investment for the 2010s, you are wondering more specifically whether Bitcoin is the best investment for 2020.
Whether you're getting into crypto for the first time or an advanced crypto user, there's nothing wrong with investing in bitcoin It's a tried, true, and proven cryptocurrency with plenty of infrastructure to support it. Optimistic investors will point to price predictions calling for BTC to hit $100,000 by the end of 2020.