Every time the price of Bitcoin rises or falls, people wonder if BTC is still the best cryptocurrency to purchase. Given that markets have been glowing green of late, the debate around Bitcoin continues. Let us take a closer look at this question and attempt to answer if this is really the case.
Is Bitcoin the Best Cryptocurrency to Purchase?
The answer to this is: yes and no.
It truly depends upon the purpose behind your purchase. Why do you want to purchase Bitcoins? Do you want it purely for the purpose of investment? Or do you want to purchase it because you believe in it to be the “currency of the future”. Even if you want to invest in it, there’s nothing wrong in purchasing some BTC. However, then you need to see the short and long term perspective of this purchase.
Is Bitcoin a good Short-Term Purchase?
For those looking forward for a short-term perspective, there are better and faster moving cryptocurrencies in the markets such as Ripple and Ethereum which people tend to prefer. However, there are also a number of other currencies, particularly in the top-10 which one would like to consider as a short-term investment option.
IS BITCOIN A GOOD LONG-TERM INVESTMENT?
Yes, Bitcoin is indeed the best cryptocurrency for a long-term purchase, especially considering the fact that it has a capacity to bounce back faster and harder than any other currency. Historically, Bitcoin has proven that it is a good investment option – having gone from $2900 to $19000 – then down to $3200 and back up to $13,000 as of this writing!