Now, before I start I want to point out that I am not that clued up when it comes to the ever-complicated crypto world. Having said that, I don’t believe that you need to be, if you read enough articles and take the time to study the various exchanges. You can quite easily see how volatile the crypto market is and what’s a potentially good investment among the many that are available.
I have recently made my first investment and I am thrilled with the return I have made so far. However, this, unfortunately, won’t be the same case for everyone as time goes on.
Bitcoin is fundamentally the top coin in existence, but, in my opinion, it’s also the riskiest. The reason it’s risky is that there are newbies entering the crypto market on a daily basis, jumping straight in expecting to see a huge return similar to that which long-term bitcoin investors have received!
Most, however, will not have researched the market. Being honest, I don’t think most understand how it all actually works. I think we’re heading for a big crash but I can’t say when, it could even be before Christmas.
On the other hand, bitcoin could reach 20k by then, but why would it?
There are some rogues out there investing huge amounts, and are therefore pushing the cost of BTC up and then – hey presto – they will pull out all of a sudden and the price of BTC will plummet.
Who’s heard of BTC cash? If you are a trader then the chances are that you will have done. If not, I suggest you research it. BTC cash may become the dominant coin in the near future.
Reading this morning’s news, I could see that Bitcoin has plunged as much as 20 percent after smashing through the 11k barrier. In fact, looking at my wallet now it seems most cryptos took a hit and still haven’t bounced back. I am not sure if this is the big crash or just the start of it. Perhaps it’s just a blip, but we will find out soon. Most exchanges also crashed the other night because of spikes in traffic and the rush to exchange also played a part. It just goes to show how volatile bitcoin is. Having rallied 20 percent in just four days, and then dropping 20% in 2 hours, it’s a bit of a white-knuckle ride right now.
Taking a step back for a second into my investment. I invested my money in bitshares, my reason being that I believe it is bitcoin’s nemesis. When people realise the benefits of a decentralised network compared to a centralised network, BTS will surge in value. For this to happen, unfortunately, we may need to see the big crash occur first, which is not ideal, but inevitably this flow of money cannot be sustained forever.We are on the dawn of something big here. This may be the beginning of a new banking system and what we are seeing at the moment will be remembered for generations to come.Click To Tweet
For now, it looks like things have calmed down but I can assure you when it happens we will see huge losses and some gains, The cryptocurrency world is extremely volatile and susceptible to major dips so keep your eyes and ears open. The rollercoaster ride may only just be beginning…