Bitcoin’s price has climbed by more than 5,000,000 percent between its inception and its all-time high, but have the majority of its enormous gains already been realised when compared to other crypto opportunities?
Over the period of about 12 years, Bitcoin (BTC) progressed from obscurity to trading as a totally new class of asset recognised by the mainstream financial world. During that time, the price of one Bitcoin has risen from less than $1 to more than $60,000 at its peak.
People have invested in the asset at various periods along the process, with some users profiting significantly from Bitcoin’s price rise. Is it too late to profit from investing in Bitcoin now, given that it already trades for tens of thousands of dollars per coin? According to one cryptocurrency trader on Twitter.
“Tbh I just dont care what bitcoin does anymore,” Moon Overlord tweeted on March 15, 2021. “We already made it,” they explained, adding, “And yes, it’s too late to buy it, it’s $50-$60k for ONE, time to look elsewhere if you’re new or don’t have much to invest.”
According to BraveNewCoin’s Bitcoin Liquid Index (BLX) on TradingView, people had months to stock up on BTC for less than $0.10 per coin in 2010. The challenge in obtaining Bitcoin at that time was that the asset had significantly less publicity and open purchase on-ramps than it does today.
Even in 2015, though, there were several opportunities to purchase BTC for less than $330 per coin, which would provide huge gains if sold at today’s values. Despite the fact that Bitcoin had already made enormous percentage gains at $330 per coin, one unit of the currency was still inexpensive when compared to prices exceeding $50,000.
“It’s not too late just DCA”
It is too late, let’s cut the bullshit.
You will never make it “dollar cost averaging”
when it’s $55,000 FOR ONE. When $btc was a few thousand sure, that strategy is a lot more sound, but it isn’t anymore.
— BIG DOG (@MoonOverlord) March 15, 2021“It’s too late to magically get rich on bitcoin, cope,” Moon Overlord said in a separate tweet, adding: “Are you a fortune 500 company or a country / nation? Then it’s probably still OK for you.”
A 2010 message by user “ichi” was posted to the r/Bitcoin subreddit in 2021, and the person expressed regret over having missed out on Bitcoin. ichi said on July 25, 2010, that he only had 600 bitcoins, which were practically all earned in the previous week. “I missed the bus,” the user said, followed by a sad face emoticon.
According to the daily candles on the BLX chart on TradingView for the period July 24 to 26, 2010, the price of bitcoin at the time of the original 2010 post ranged from $0.05 to $0.06 per coin.
Some members of the cryptocurrency industry have predicted that Bitcoin’s value will rise far over its current all-time high of around $65,000, with some predicting that it will hit $1,000,000 per BTC.
The possibility for greater profits in the future for Bitcoin is increased as the price of the cryptocurrency rises. However, such percentage gains may be smaller than some of the profit percentages witnessed in certain altcoins in 2020 and 2021.
Yearn.finance (YFI), for example, had a price increase of more than 5,000 percent in 2020. To be sure, investing in or trading in crypto assets that are less well-known than Bitcoin (BTC) may have a higher risk of loss owing to a variety of factors, including probable project failure, asset price crashes, and regulatory changes, among others.
