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|Before You Invest your Life Savings In Bitcoin by SavageResponse(m): 12:57pm On Jan 09|
There has been an upsurge in the price of Bitcoin recently and due to this there has been a renewed interest in it and every Tam, Dike and Haruna is claiming to be an expert in cryptocurency.
Well I'm here to warn newbies that the recent rise in prices of cryptos especially Bitcoin is all puff and no substance.
When the price of something starts experiencing appreciation it is usually because there is some market fundamental that is driving up the price.
Let us use the shares of a publicly quoted company as an example; towards the end of end of the financial year of a company or the Annual General Meeting the share price starts going up if the Q3 results show that the company has experienced a good year and will likely declare and pay good dividends...this is part of the market fundamentals that will drive up the price of the shares.
Increase in price of shares of a company could also come about if there is a new government policy that will favour the operations of the company or give it an edge in the market.
Now when you look a the recent increase in the value of Bitcoin there is really no fundamentals backing it, the price surge is mainly due to speculation and hoarding so in effect it is just a bubble which will burst soon.
Bitcoin itself has no intrinsic value and it is not a legal tender in any country on the planet (Forget the bullsh1t you hear from proponents).
This warning is to newbies - Do not let anyone deceive you into buying Bitcoin now based on the premise that the price will still rise to $146,000 so that you will become a millionaire overnight.
They price is just being 'pumped' artificially and it will soon peak then it was crash massively making you loose a significant part of your money.
You have been warned!!!
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|Re: Before You Invest your Life Savings In Bitcoin by Wittysmith(m): 1:21pm On Jan 09|
Pumped artificially all the way from $1 to $40,000!
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|Re: Before You Invest your Life Savings In Bitcoin by Iamsane: 1:22pm On Jan 09|
|Re: Before You Invest your Life Savings In Bitcoin by Mide3367: 1:32pm On Jan 09|
You right op... All but people go still ball and cash out massively
|Re: Before You Invest your Life Savings In Bitcoin by Wittysmith(m): 1:34pm On Jan 09|
By 2030, bitcoin will hit the $500,000 mark.
Get in if you can afford it now.
Or better still, wait for a price correction or retracement and get in at a much cheaper price than the current value.
Economic fundamentals suggests that fiat money will keep losing value and this will endear bitcoin and other microcurrencies to big multinationals and investors.
Many firms will favor transactions in cyptos over fiat money. And this will push the price higher in the coming years.
I recommend buying and holding for the long term.
But be informed that investing in bitcoin and cryptos is risky. So invest only what you can afford to lose!
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|Re: Before You Invest your Life Savings In Bitcoin by Etfash(m): 2:42pm On Jan 09|
Newbies who aim to profi immediately can steer clear. But if you intend to get in for the long term, get in, buy in bits, wait for every retracement to buy.
As for fundamentals, institutional funds are getting into the Crypto space. PayPal, Gray scale etc are heavy investors in BTC as we speak.
Regarding financial statements and all, what makes Gold go up and down? It's not some financial statement but happenings around the world, uncertainties and changing interest in the Fiat system. Personally, I believe BTC is going to beat Gold eventually.
Op, I will advise you only counsel people to go for knowledge about whatever they intend to put their monies.
And the days of BTC tumbling are behind us.
It ay never go below 20k again.
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|Re: Before You Invest your Life Savings In Bitcoin by legacystore: 3:09pm On Jan 09|
onces dumping starts btc price sumersault is certain
|Re: Before You Invest your Life Savings In Bitcoin by SavageResponse(m): 8:05pm On Jan 09|
I did not say it was pumped from $1 but I insist that the recent upsurge in price from when it was about $14,000 really has no fundamentals backing it other that just hype and scramble to buy and HODL
|Re: Before You Invest your Life Savings In Bitcoin by Stewart883(m): 1:56am On Jan 10|
That's your own opinion. Between Nov and now I have cashed out over 4m from BTC.
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|Re: Before You Invest your Life Savings In Bitcoin by Theoutsider: 3:09am On Jan 10|
Thats not an opinion. That is a fact. Any person with an IQ of 40 can look at the bitcoin charts and see there has always been pull backs. You are in a bull market. Dont get cocky fool.
|Re: Before You Invest your Life Savings In Bitcoin by showafrica(m): 3:38am On Jan 10|
You are in the game... There will be retracement by March. However, btc may never come below 20k again unless world faces serious issues again. Some guys bought during Covid-19 at 4k and sold the next month at 8k. All i know is btc will continue going up unless it is successfully hacked.
|Re: Before You Invest your Life Savings In Bitcoin by EncoreTrades(m): 5:50am On Jan 10|
Said by the expert in what...whether stock, bitcoin or forex.,,,each market got it own risk...the problem is people who do not understand this risk putting their money in it...the old saying...always invest what you are willing to loose and invest wisely...no how the market works...
Bitcoin is a store of value and has come to stay...no government need to stop it....they only thing that will stop it is if they world stops using the internet...
|Re: Before You Invest your Life Savings In Bitcoin by SavageResponse(m): 10:42am On Jan 10|
Yes I agree - Bitcoin is a store of value.
It has not been recognised as legal tender in any country but part of the reasons why it's value is appreciating is because people are peddling falsehood that China and some other large economies are gearing up to adopt it as legal tender in the coming months
|Re: Before You Invest your Life Savings In Bitcoin by tammyboy1(m): 11:04am On Jan 10|
Hello guys Eth is almost at its all time high, do you now is the best time to sell? Or will it still appreciate? Advice please
|Re: Before You Invest your Life Savings In Bitcoin by Theoutsider: 11:23am On Jan 10|
This is how black men become divided.
Instead of cosigning with him... or providing more insight. you did the complete opposite! This guy issues a warning and you rooster block him to massage your EGO.
People will invest their whole life saving because they are desperate.. stop quoting old adages to look intelligent.
People will see the up tick get emotional and dump money in.. that's the psychology of money. There will be huge investors that will pull their money to take profits and the little guys will get scared and dump bitcoin out of fear and the big guy will will re-enter at a lower price
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