Is Crypto Really Too Expensive? Why Crypto Skeptics Might Be Wrong

Despite Bitcoin reaching record highs and the excitement over new spot Bitcoin exchange-traded funds (ETFs), the crypto industry finds it challenging to draw in fresh investors. According to the 2024 Cryptocurrency Investor Trends Survey by Motley Fool Ascent, the primary demographic for crypto still comprises Gen Z and young millennial men.

It’s quite unexpected, considering the continuous talk of crypto entering the mainstream. Even more startling is that skeptics cite crypto being too expensive as a reason for not investing, which isn’t accurate. Here’s why.

Is Bitcoin too expensive?
One common reason people give for not investing in Bitcoin is the perception that it’s just too pricey. This feeling of Bitcoin sticker shock happens when you decide to buy some, but the price is way above $70,000, making you rethink your decision.

Is Bitcoin worth it?
Another reason people see Bitcoin as “too expensive” is because they think it’s overvalued. When Bitcoin recently hit a record high of $73,750, some investors felt it was better to wait for the price to drop before buying. They hope to get it at a lower price.

Is it too late to invest?
Many might think it’s too late to invest in Bitcoin since its value has soared from $1 to $70,000 over the past decade. They worry that the big gains are over. But experts don’t agree. They predict Bitcoin will keep rising, possibly reaching $100,000 by the end of 2024 and $150,000 by 2025. Some even say it could hit $3.8 million by 2030!

Should you invest now?
Despite its high price, experts believe Bitcoin still has huge growth potential. If you invest now, you could make a big return on your investment in the future. So instead of being overvalued, Bitcoin might actually be undervalued right now.

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