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Are Bitcoin (BTC) and Ethereum (ETH) long term investment?
Bitcoin (BTC)
The network effect works in favor of Bitcoin, the most well-known cryptocurrency, as more people want to hold Bitcoin because more people own Bitcoin. Despite the fact that Bitcoin is widely regarded by investors as “digital gold,” it might also be utilized as a digital form of payment.
The fixed supply of bitcoins, in contrast to the infinite supply of fiat currencies like the U.S. dollar or the Japanese yen, has led many investors to anticipate that the cryptocurrency will appreciate in value over the long run. Bitcoin’s supply is regulated at less than 21 million coins, but governments throughout the world can produce as much of their respective currencies as they choose. A lot of people are putting their money into Bitcoin because they think it will rise in value as traditional currencies fall.
Many people are optimistic that Bitcoin will soon replace traditional cash as the most popular digital payment method.
Ethereum(ETH)
To diversify their holdings in the Ethereum platform, investors can buy Ether, the platform’s native coin. Ethereum, in contrast to Bitcoin, is developing a worldwide computing platform that can accommodate a wide variety of cryptocurrencies and a large number of distributed applications…
