What do you think about crypto now? – Ahmed Abo Goush
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What do you think about crypto now? - Ahmed Abo Goush
3rd July, 2022
These days the main consideration is to invest or not to invest in cryptos. Bitcoin faced yet another significant correction, falling sharply below $25,000, the lowest in over a year and a half. Despite the volatility and the recent slump in price, many experts still maintain their stance on Bitcoin being long term bullish.
The volatility is nothing new, and is a big reason experts say new crypto investors should be extremely cautious when allocating part of their portfolio to crypto-assets. Bitcoin has shown as steady a rise in value over the years. It’s only reasonable for Bitcoin investors to be curious about how high it can ultimately go. There is no guaranteed return. A cryptocurrency’s value can and does change by the minute. An investment that may be worth thousands of U.S. dollars today might be worth only hundreds tomorrow. If the value goes down, there is no guarantee that it will go up again. This is because of a lack of a universal valuation model for crypto-assets.
Cryptocurrency is here to stay and is not a fad as some people would speculate.
For every cryptocurrency that you invest in, be sure to have an investment thesis as to why that currency will stand the test of time. If you do your research and learn as much as possible about how to invest in cryptos, you should be able to manage the investment risk as part of your overall portfolio.
There are so many benefits of owning crypto such as :
Crypto transactions are easy and are executed at negligible cost, and they value privacy.
Blockchain based payment systems are more secure than legacy payment systems, malicious actors would usually need to depend on user errors for a hack to be successful, regardless, blockchain reduces the surface area for attack and provide a medium for payment much more secure than any legacy system.
In a world where so many of our transactions are online, and our savings and credit rating are at stake at all times, anything that provides increased transactional security is a plus. And there is currently no transaction mechanism that is currently more safe and secure than those that use cryptocurrency.
Bitcoin is the best performing asset in the history of mankind, but these returns are not limited to BTC; The total market cap of the cryptocurrency market in 2013 was about 1.6 billion. By June 2021 it spiked to 1.4 trillion us dollar.
As with any investment, financial planners and other experts advise against letting Bitcoin’s price fluctuations lead you to emotional decision making
Personally, I believe that Bitcoin is one of the best crypto-assets due to its ability to retain value. I always look at a dip as an opportunity to buy low and sell high at a later time.
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