Cryptocurrencies experienced their first boom around 2017 and 2018 when Bitcoin became a widely hot “currency” and its value multiplied in weeks, from around $2000 to over $17,000. It was the first wave before the tsunami we are experiencing now in 2021.
If you bought in Bitcoin or any Altcoin in 2017 and kept the coins without selling them (HODL being the industry term) you might be potentially sitting on some very nice returns right now.
Will cryptocurrencies have any future? We believe so. Why? investing in crypto is now easier than ever, all you need is an app on your phone and some money to invest and you are neck-deep in the game. We use the term “game” because investing is purely gambling. It is more fast-paced than the stock market making it very popular and addictive to the younger demographic. But investing in crypto is very risky. In the traditional stock market, you own part of the company when you own their stock, but when you own cryptocurrency its value is only the amount someone else is willing to pay for it at the time when you decide to sell.
The ultimate wisdom I can share here is, only invest as much as you are comfortable losing. But do invest. I believe crypto is here to stay and many altcoins (coins other than Bitcoin) together with Bitcoin will increase their value over time. There are very good chances to make some short term profit and long term profit. But again, invest wisely as there are many risks involved with crypto.
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