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Research Outline
Prepared for Solomon L. | Delivered November 21, 2019
Bitcoin
Review your project details
Goals
To understand whether bitcoin is a profitable investment.
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Early Findings
Profitability of Bitcoin
Since it's creation, Bitcoin has been profitable
92.8% days
it has been on the market. Despite its
viotility
last year, it has still remained profitable.
The cryptocurrency has had times of
rapid increase
, followed by slow, steady downfall until stabiization throughout its history.
Factors Making Bitcoin Profitable
Since Bitcoin is global, it is not affected by a
single country
's stability or financial situation. It is also
apolitical
and, therefore not impacted by any governmental control or influence. In fact,
global chaos
is often seen as beneficial to Bitcoin investors.
Bitcoin is scare with only
21 million
. The more it is mined the scarcer it will become, making it even more valuable.
Bitcoin is
transparent
so it is easy to see when new Bitcoin has entered the market and how much is in circulation at all times.
Tips for Investing in Bitcoin
Use a
crypto exchange
for trading. With the violitility of the crypto market, a crypto exchange can offer experience and specialized knowledge.
Use the conservative strategy of
buying and holding
Bitcoin. Many times it will become more profitable the longer it is held.
Trust and follow
trading signals
. Rely on the analysis of professionals.
Security
of the investment is top priority. Bitcoins should be stored in a secure Bitcoin wallet.
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