This is only my Opinion, but I would love your input
Cryptocurrency has been all the rage for years now and I have discussed strategies of what and why with many people regarding their trades and outlooks for the future of these coins. Many people have told me that investing in this would prove to be very beneficial in the long run. However my feelings onCryptocurrencies is that they are only good to flip for profit opposed to holding them for any period of time. Bitcoin is the only coin that has risen to a much higher price than projected and still it holds a danger to invest into.
Let me explain why this is... Bitcoin is at almost 4500 dollars per coin. This is a great investment if you bought in back when it was in the 500 to 600 mark, now here in lies the danger. The price being extremelty high can hurt it in a number of ways. One is by only the rich can purchase them and then hold hoping for a much larger spike. Second is if those who are holding start to get to nervous that their investment will not go much higher, thus a mass sell off of stock, this ofcourse kills the price very fast. Third is if Bitcoin goes down, what will happen across the board. Can the others survive and will there still be enthusiasm. Merchants do take Bitcoin already, but bet that if it falls, this will kill the trust of the market and send our beloved crypto into turmoil.
To sum it all up, there is too much risk in investing for any long period of time. My reccomendation is to flip as soon as you can and cash out. Too much trust in something that has no Antique Value. There is no value besides what the market says.
*Please remember this is only my opinion
Please feel free to comment your feelings below
Thanks all
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