Bitcoin&Crpytocurrency As An Investment
I want to specifically talk about the potential and cryptocurrency. But I also want to show the downside as I said in the past cryptocurrencies are extremely extremely volatile.
Make a Profit
So if we go up here and click this twice this will bring up to the very top the old coin that has changed the most in the last 24 hours. This one Monaco MCO has changed. A hundred and fifty six percent. So if you invested in this 24 hours ago you would have a gain of 156 percent in just 24 hours. That is crazy.
But on the other hand the worst that has happened is at minus 20 sometimes you’ll see this just like this number but negatives so it is entirely possible that as much as it goes up it could go down twice as much.
That’s extremely important to understand. This is all based on the amount of money or old coins they get pumped in to the market. So similar to the stock market of a bunch of people sell what the price is going to go down. If a bunch of people buy the price is going to go up in order to do this successfully you need to kind of train yourself to notice trends. So for example let’s go to ARK here.
And if you were to invest right here when it had three declines in a row that’s probably not going to go the other direction anytime soon. This is a very clear indication that the trend is going down. And just like just like here for example if you bought in right here that would probably be a good idea because this is on its way up. You can see here that the trend is going up. Now we’ll cover what these are these red and green what’s called candles. We’ll get more into that in the future.
But for now I just want you to understand that cryptocurrencies can change quite a lot. People don’t understand how powerful cryptocurrencies can be for your financial future. How much of an influence they can have. But on the other side they can completely wipe out what you’re investing so you need to understand this is a high risk high reward type of investment. But if you do the research you invest in the right coins or you simply just buy Bitcoin and forget about all the other old coins. Chances are you’re going to walk away in a few years with really really really great returns.
So that’s something that a lot of people are guaranteeing. I’m not going to go that far yet but you know I’m definitely holding Bitcoin myself. I also am doing a bit of trading not too much. You know I have several thousand dollars invested originally and that has multiplied just in the last few months. Obviously I’m really happy about that. And a lot of people have received the exact same type of returns on the money they had in it. So really great opportunity right now that I see and again do your own research so there’s no financial advice. You’re in charge your future you’re in charge your money.