No one can be late for bitcoin. When bitcoin becomes global money and its purchasing power appreciation rate reflects humanity's productivity growth, it will always make sense to store value in bitcoins. It will simply be the best savings instrument that exists, constantly appreciating itself without risk from third parties or company failure. But Bitcoin is not a get-rich-quick plan.
They have taken years to reach the current all-time highs. Some analysts predict that the price of Bitcoin could see another increase, and even triple the highs it is seeing now. However, Tepper warns that Bitcoin is extremely volatile and is not something to build retirement on. Richard Smith, CEO of the Foundation for the Study of Cycles, for example, says that cryptocurrency is going to be the basis of a new version of the Internet.
Knowing which camp you fall into can help you determine if it's too late to buy cryptocurrencies. In the midst of all these incredible gains, the natural question is whether or not it is too late to invest in cryptocurrencies. The price of Bitcoin plummeted after the Chinese government said Tuesday that the country's financial institutions and payment companies will not be able to provide services related to cryptocurrency transactions. The truth is that no one can guarantee whether cryptocurrencies will rise or fall from here on, since it is a completely new market that is not well-defined or well-regulated.
If you have considered investing in cryptocurrencies in the past, it may seem that it is too late to buy now that prices have fallen so significantly. There's a lot more to come, so it's definitely not too late to get into cryptocurrency, and this pullback can be a good buying opportunity, he adds.