The world of blockchains and cryptocurrencies is incomplete without Bitcoin, the largest cryptocurrency in the market. It was supposed that people were in a storm of doubts when Bitcoin was first introduced in 2009 by Satoshi Nakamoto. However, after a few years, Bitcoin made history by surpassing even the top stocks in terms of growth. That made investors switch towards the crypto world. Although 7000+ altcoins are better than Bitcoin, there are many reasons to HODL Bitcoin even in 2021. The more you learn about these reasons, the better you grasp Bitcoin.
Top Four Reasons To HODL Bitcoin This Year
1. Bitcoin Is Rebellious
The very first reason why you should buy and HODL Bitcoin in 2021 is the fact that Bitcoin is rebellious. It was, it is and will be. Every advancement brought by Bitcoin would never fade away. Keep this in mind! El Salvador has already offered the status of legal tender because of its revolutionary nature. Several thousands of independent nodes are utilized whenever a transaction enters the blockchain. The servers are unstoppable while verifying the transactions. Bitcoin is a massively adopted cryptocurrency from all around the world. It is present even in those countries where governments have put a ban.
2. Mining Rewards Decrease With Time
Have you heard about Bitcoin mining? If not, then visit a crypto platform educating about cryptocurrencies. The concept of Bitcoin halving is what makes it a reliable and valuable asset as time passes by. Whether you mine or invest, you benefit because with the mining rewards diminishing with time, the price of Bitcoin increases. Observing the success of Bitcoin, the community has set the limit of 21 million Bitcoins only. The restriction makes sure the cryptocurrency does not lose its direction in the market. Certain adverse global events may hurt the crypto world, but there remains hope for Bitcoin to rise.
3. Bitcoin May Counter Inflation
In today’s time, many governments fail to control what is called inflation. Leaving El Salvador, almost every country has its own paper-based currency. The peril of inflation exists because the paper currency has the ability to employ its value whenever the government decides to print more constantly. I have already remarked there are 21 million Bitcoins in existence. So, when you invest in Bitcoin, you become a part of a decentralized economy. Is Bitcoin legal in India? Many people ask. Yes, the apex court made it legal last year. Bitcoin is necessary here because inflation shows up now and then.
4. Trading And Payments Are Flexible
You can approach hundreds of crypto exchange platforms. Each one of them trades with Bitcoin, and they cannot overlook it. Platforms like Binance, Coinbase and others have partnered with third-party platforms to make things easier for their customers. People can now buy Bitcoin using a debit card, credit card, PayPal, Venmo and even via bank account. As the crypto world is progressing, exchanges are adding more and more methods of payment. You can use Bitcoin to buy products and services from Bitcoin-accepting companies. There are many of them. Transactions with Bitcoin are speedier than that from fiat.
The Future Of Bitcoin
The setback from China and notable personalities previously sparked a reversal in the crypto market, but everything is again back to normal. Bitcoin could again touch an all-time high because it is open at $54k. If you are already into Bitcoin, no need to worry anymore. You undoubtedly would profit this year. Still, it is better to include altcoins with Bitcoin because they also have a significant part in the market. Many experts come with their potential long-term scenarios. Bitcoin will go to zero, some experts say that. But no such a chance exists. It is not a bubble.
Several price predictions are indicating that Bitcoin could reach $100k. Yes, the upcoming Bitcoin halving event has the potential to do so. Therefore, HODL your Bitcoin and wait for the right time. One mistake many people make is they sell after observing a minor spike. This move is wrong. You should not anticipate all the time. If you want to reach the best opportunity, approach a crypto platform. Besides Bitcoin, you can discover Etherum, XRP, Cardano, PolkaDot, Dogecoin, Shiba Inu, Solona, Monero, Tron and Tezos price prediction. These all are the topmost altcoins after Bitcoin. Spend a fraction on them also.
In this article, we have seen the top four reasons to HODL Bitcoin in 2021. Bitcoin is the best cryptocurrency for investment and trading. Many altcoins are dependent on Bitcoin because they rise when Bitcoin rises. While investing in Bitcoin, look for the long term trends only. Short ones are good for traders. A crypto wallet is used to store Bitcoin. Forever choose the best wallet after learning from the latest crypto wallet reviews. Bitcoin is all set to bring the heat again. Make sure you take advantage of that heat to grow affluent for the next coming years.