Bitcoin is the most popular crypto asset of all existing cryptos. Apart from that, there are also several reasons why you should buy bitcoin. What are they?
Bitcoin continues to show a continuous increase in price. Although sometimes, the price drops over a certain period of time.
However, owning Bitcoin is not only as a profit seeker in trading on Indodax alone. There are a few things you need to know why you should buy Bitcoin.
Check out 5 ways.
1. The Price of Bitcoin Will Continue To Rise
From last year, the Bitcoin price increase has continued, although it has decreased occasionally. However, this year, Bitcoin will continue its upward or bullish trend.
This happened because of the massive increase in demand for Bitcoin. Because Bitcoin adopts the blockchain system, one of the factors for the increase in the price of Bitcoin is supply and demand.
Currently, massive demand continues. Several corporations in the United States and other overseas continue to buy Bitcoin.
For this reason, Bitcoin is likely to experience another fantastic price increase. In fact, Bitcoin will continue to break through its highest price as it did from late 2020 to early 2021.
2. Price Increase Is High, But Tends To Be Safer
Bitcoin has increased dramatically. However, it’s not as wild as other altcoin price movements. This is because the Bitcoin market cap is already very large, reaching USD1 trillion.
It is undeniable, the increase in other crypto prices is indeed high. But the price correction is also quite deep. However, Bitcoin has not seen a drastic increase as other cryptos have. So is the drop.
So, it can be said that Bitcoin is indeed better than any altcoin. Because one of them is a price decline that is difficult to occur in depth. Because Bitcoin has a large market cap.
3. Bitcoin is an Inflation Protective Asset
Bitcoin price increase reached 300% in 2020. This increase is very fantastic compared to other investment instruments. In fact, higher than the increase in property prices in a developing area.
Not surprisingly, Bitcoin is an inflation hedge, which means that the increase is higher than the increase in other prices. Like what companies like Tesla, Microstrategy and others believe.
Bitcoin has been trusted and has proven to be an inflation hedge which functions the same as gold.
You can also save Bitcoin as savings to deal with future price increases or inflation.
4. For Medium and Long Term Investments
Because of its nature as an inflation hedge, of course Bitcoin is an investment in the medium term. Even for the long term. Because the increase in the price of Bitcoin can only be felt in more than 6 months or one year.
Of course, Bitcoin is more suitable as a medium or long term investment. This is different from altcoins like DOGE and those based on DeFi. Generally, the increase is quite wild and will undergo a drastic correction.
Bitcoin is more suitable as an investment for the medium and long term. Although, there is nothing wrong with you using it for the short term. Make sure you are lucky to buy Bitcoin.
5. Safer Storing Bitcoin
Bitcoin is a digital asset that has no physical form. Although people still doubt how Bitcoin could be owned without it being physically present, it is even more secure.
Also read: How to trade on the USDT market, what’s the difference with IDR?
Because it is not physical, Bitcoin does not suffer physical damage. Where physical damage certainly affects the price of an asset. If the asset is damaged, the price will also go down.
In addition, Bitcoin is certainly safer and easier to carry anywhere. Because Bitcoin is digital. You can store Bitcoin on Indodax safely, without the need for other security.
How to Buy Bitcoin on Indodax
So, that was the importance of why you should buy Bitcoin. For those of you who are beginners and confused about how to buy Bitcoin on Indodax, you can read this link.
Watch other interesting information so you don’t miss information and education about crypto trading on Indodax at Indodax.academy. You can also watch other content on Indodax’s official social media.
