Its quite normal for stocks and cryptocurrency valuations to go up and down
like a rollercoaster.
A lot of it is based on speculation.
Yesterday BTC went up to over $57 000 and then it dipped again within a few
hours to $54 500.
Why ?
A lot of the price is based on speculation and this, is based on emotions.
A few weeks ago Bitcoin was at 58 000 and a lot of people invested.
Then a drop in price happened and now its almost back to the previous level.
Many investors sold their assets after the price went up, because they got
scared.
Rule nr1 - don't invest what you are not willing to lose
Rule nr2 - don't panic, prices go up and down.
Rule nr3 - look at what's happening around you. Many big players are buying
up bitcoin because its supply is going to finish soon.
What will happen when no more bitcoin can be generated (by mining) and so
the bitcoin network will not provide benefits for the miners that provide
their computing resources to confirm transactions?
The bitcoin community hasn't answered that question yet, but we still have
some time before that happens.
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About the author:
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I will remain anonymous commenting what I see, because the world has become
very bipolar.
I have chosen this platform because I believe it will provide me anonymity.
I travel a lot. And I read a lot about what is going on in the world.
I have balanced world views. I don't care which side of the political scene
is my view of some specific event.
I comment a specific event or phenomenon as I see it, without trying to
label it as left or right.
I believe in the freedom of speech.
DISCLAIMER - if my comment is related to financial instruments or the financial market, please understand that I am not a financial professional and this is not financial advice.
My financial market comments present my own personal views and remember that any investment you make presents a potential risk.
Any investment you make has to be based on your own decision.
Do not invest money that you can not afford to lose.
#internetcommentary
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