Is it too late to get into Bitcoin?

Bitcoin has been around since way back in 2009. The majority of its press hype has been in the latter half of those 8 years. And in just the past few years, the price of Bitcoin has skyrocketed. I hear a certain regretful sentiment almost daily: “I should’ve bought in to Bitcoin a month ago… now the price is just too much”. I know the feeling. Hindsight is 20/20. But here’s the deal: Although the price of Bitcoin has grown exponentially in the past month alone, it’s not the end. We aren’t even close to the high point.

We recently spoke with Spencer Montgomery, founder of Cryptobuzz, who shared some interesting stats concerning how the current price of Bitcoin could rise if these events occur:

Growth from the current price according to events below

1. If Hedge funds allocate 1% to Bitcoin, the price will grow $1,230.
2. If Argentines sell USD cash for Bitcoin, it will grow $2,480. (Argentina is currently at a 24% inflation rate. Many citizens are converting their money to bitcoin to combat against inflation).
3. If gold holders divest 1% into Bitcoin, the price will increase $3,500,
4. If Bitcoin replaces remittance market, it will increase $6,860.
5. If it becomes a global e-commerce currency (overstock.com is already accepting Bitcoin for purchases) the price could rise to $11,500
6. If 25% of the black market transactions are in Bitcoin $44,000

We’ve got a long way to go, but some of these events are not far off. It may be time to dip your feet in the waters of Bitcoin. Better late than never.

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