I’m sure you heard about the Bit-coin so there’s no reason to go over it again. If you need a refresher course here’s a nice infographic that will help you get a better understanding of why people are going crazy about this crypto currency.
Crypto currencies will most likely be the future of money (unless something better comes along). We’re all tired of the banks taking advantage of us. But for now Bit-coins are used to invest and move large amounts of money from point A to B.
In 2017 Bit-coin climbed from $2.5k all the way to $19.2k and since then it’s been dropping. Now the value is about $8.5k, and it seems to be going nowhere in the next few weeks. Does that mean it’s a bad investment? No. It’s just like any other investment, people want to buy cheap and sell when it’s expensive.
When you understand that fact, you notice things you might have missed in the hype. Now it makes sense that it’s price is dropping. You don’t really make a profit till you sell, so the drop in price is just Bit-coin holders selling in order to make profits.
So why is the price not going back up?
Most likely because the struggle going on now is between buyers who don’t really understand how the market works. They saw that the Bit-coin was dropping and are selling like crazy driving the price down. Others are excited to buy the coins at such a cheap price and are buying it but they are too hesitant in their investment so they can’t drive the price back up.
Button line is that when you’re investing, your investing in people not the investment itself. If you’re really interested in making an investment in Bit-coin, I recommend you learn how to invest. Otherwise it’s just a gamble.
When you understand what you’re looking at, you will know what to invest in and when to do it.
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