Why you should, and why you shouldn't invest in bitcoin

D

Deleted member 13140

Guest
So bitcoin Drastically went down since, I know this because I know someone that invested in it and it has gone done quickly Like I use to say I don't like bitcoin - I never invest in it, always say only invest in bitcoin if you have a steady income
You never know when or when not to invest, Bitcoin was the first cryptocurrency to be created, and since then, over 1600 cryptocurrencies have been released, each with its own set of features.
Some of the reasons I've encountered and would like to share are that cryptocurrencies were created on a decentralized platform, which means that users don't need a third party to transfer cryptocurrency from one location to another, unlike fiat currency, which requires a platform such as a bank to transfer money from one account to another. Cryptocurrency is based on extremely secure blockchain technology, with nearly little danger of being hacked and having your coins stolen unless you provide some essential information.
Buying cryptocurrencies during the peak of the bitcoin bubble is always a bad idea. Many of us acquire cryptocurrencies at their peak in the hopes of making rapid money, only to be duped by the bubble hype and lose our money. users to conduct an extensive study before making a financial investment. It is usually a good idea to invest in numerous crypto currencies rather than just one, as it has been seen that some cryptocurrencies increase faster than others, while others fall into the red zone.
 

btaliat

VIP Contributor
From your analysis, you have not said the main reason why we should not invest in bitcoin or why we should invest in it. You only talked generally on when to invest in a coin and when not to invest on it. I found your argument very reasonable. Because an intending trader should know when to enter a market and even should know the exit time. I have lost a lot of money because I didn't exit when I needed to hoping to acquire more till I lost all what I have gained.
 
D

Deleted member 13140

Guest
From your analysis, you have not said the main reason why we should not invest in bitcoin or why we should invest in it. You only talked generally on when to invest in a coin and when not to invest on it. I found your argument very reasonable. Because an intending trader should know when to enter a market and even should know the exit time. I have lost a lot of money because I didn't exit when I needed to hoping to acquire more till I lost all what I have gained.
read this " I know this because I know someone that invested in it and it has gone down quickly" which is that it's too risky, i just didn't want to add irrelevant words

and I also added another reason
"Buying cryptocurrencies during the peak of the bitcoin bubble is always a bad idea. Many of us acquire cryptocurrencies at their peak in the hopes of making rapid money, only to be duped by the bubble hype and lose our money" which also means it's too risky, you could lose all your money within days
 

Victorial

Active member
You are right. The peak of any coin is the wrong time to buy any coin hoping that you would quickly make any profits only to lose your money in a flash. With Bitcoin going down after a massive fallout, it is the best time to buy during the dip. One of the coins that will eventually rise after the dip is Cardano (ADA). I do not believe in Bitcoin very well but it's going to pump. My friend is currently losing his coin as coins are really dropping. He has bought some BTC and ETH
 

Sherman198

VIP Contributor
Trading Bitcoin has its advantages and disadvantages..... Bitcoin is highly volatile and it's volatility is what makes risky to invest in. But most people kept saying is risky to invest in it but I don't personally see the risk in Bitcoin if you are willing to hold your Bitcoin. I think most people don't get how Bitcoin works....They just want to invest and cash out soon enough!
 
E

eldavis

Guest
Like every other thing, Bitcoin has its advantages and disadvantages. What I always tell anyone looking towards starting investing in crypto is that they should make research and find out all there is to know about crypto, make sure they also understand the risk involved. Once they are aware of all these things, they can freely invest.
 
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