Magento no longer supports Magento 1.x. This means that you will no longer receive updates or security patches for your store. Continuing to the old Magento will lead to a considerable drop in page ranking on the search engine, affect your internet visibility, and give your competitors a distinct advantage over you. However, a more advanced decision to Migrate to Magento 2 will ensure that you remain in the league of other competing giants of your industry. So, if you are one of them then hurry up.