Should you still invest in Cryptocurrency?
If you have never invested in Crypto, you’re probably not thinking to do that anymore with all the negative news. Crypto Currency is digital units you can buy online and sell online. Everything is managed through a blockchain technology that you probably don’t want to know about. The investors say that when buyers rush to buy one currency more than sell it, the prices go up and when selling happens more than buying, the prices go down so when the prices go down, buying goes up and the prices go up again. Is that true? I do not know but I like to believe that, it makes everything so simple. There was a time when the fluctuations were very high and that was the most attractive thing about Crypto. The investor hopes to gain a huge percentage in a very short time (sometimes in the matter of hours) but that is not the case anymore which has led the investors to look away from Crypto. The question is, should you still invest in Cryptocurrency?
If you are like me, you first got excited about investing in Stocks so you bought anything that made sense to you at the time and fell at least with 25% loss in overall portfolio in the matter of months. Then what? Then you went busy with your life just looking at the portfolio from time to time with low hope or no hope. You already started looking at other things (I mean mutual funds). You got attracted to Crypto due to high volatility and all the craze but guess what? You fell even harder, well I did. My overall status is over 65% loss which I will never see in my stocks portfolio. I don’t know if I should even average out any of them because I do not see the changes like they used to have.
The fluctuations are also not too big to consider. We take such big risk to expect higher returns but nowadays it’s more like it is sure to go down or if it goes up it won’t go up enough so better to consider something else to invest in. You can find more on the trending websites like coinmarketcap.
At best, keep the percentage of your investment to the lowest in this category. It is predicated that Crypto will be back by the end of 2024 but this year it is not likely to get the popularity back and you should stay away from it as much as possible unless you are like me who always keeps some percentage in high risk investment despite the risk.