No matter what an individual’s age or background is, in 2022, there may be hardly anyone spared from the whereabouts of cryptocurrencies- unless of course, they have been living under a rock (literally)- well, to enlighten that part of our audience cryptocurrency is like money but entirely digital, with one- a user doesn’t even need to reveal their identity, their credit score or even have a bank account in order to buy, sell, lend or borrow- sounds very convenient right? That’s a controversial topic though.
From having a worth equivalent to that of pennies to being worth tens of thousands of dollars in just a couple of years, Bitcoin is one of the most popular cryptos available today and also the first of its kind. There are many celebrities, commoners, investors, traders and more willing to make huge investments into not just Bitcoin but other popular cryptos too.
The main issue, however, that lies with cryptocurrencies is that as soon as it can make its users rich, that’s exactly as fast as it can make you broke, a user can lose several thousands of dollars in just a day which may not be the best for their mental health, especially not if you’re expecting to become wealthy as soon as you start off.
According to Kiana Danial, author of “Cryptocurrency Investing for Dummies,” there have been plenty of huge spikes followed by pullbacks in Bitcoin’s price since 2011. “What I expect from Bitcoin is volatility short-term and growth long-term.”
Plenty of experts predicted that it’s only a matter of time before Bitcoin hits $100k in place of its current approximate of $60k, so there still seems for you to have a chance to invest into it if you have the extra funds and don’t mind a little adventure. It would, additionally, be more advisable to get to know more about it by reading books on the topic as well as speaking to those who are already involved with it.