Today, many people are afraid of the latest correction in the cryptocurrency market. I understand them but in my opinion there are still many reasons to hold Bitcoin, and I want to share with you 10 of them.
- The adoption of Bitcoin continues to grow. There are more and more companies that want to accept Bitcoin and work with it.
- You don’t lose money unless you sell.
- Institutional investors start investing in cryptocurrency. (Goldman Sachs supported Mobile Bank Circle to acquire Poloniex. Mastercard, New York Life Insurance Company, and CIBC have invested in Digital Currency Group.
- This is still only a small portion of wise investors pouring money into it (maybe 10 to 30% of the US population).
- US legislators are moving towards a positive attitude in managing crypto currencies.
- Selling Bitcoin in it is low what whales want from you to make money for them.
- Right now, there are too many jumpers like Mt Gox and too much FUD news but the crypto market is always recovering after a few dumps.
- The US or China are not interested in banning cryptocurrency because if they do this, other countries will adopt it and win. Most likely, the government also wants to buy Bitcoin but at a lower price.
- Crypto market gain upright chart scale starting from the third quarter of the last few years.
- Bitcoin millionaires become millionaires because they hold it for years, not months.
What are your reasons for holding Bitcoin?