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Is investing way of making money ?


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Guys what do you think in investing in cryptocurrencies such as Bitcoin ₿ or Ethereum⬨ ? Are they worth it ?

As you can see in this picture. Only for a week Bitcoin ₿ has risen up so much. Will it go more ?

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Let's look Ethereum⬨ now. They look alike. What if you guys had 1,000$ that's must be a lot of profit. What about 10,000$ , 20,000$? 

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Tell me do you think it's a good time now ?
I am waiting for good suggestions. Thanks in advance

-Woody

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  • 3 weeks later...

It's impossible to say whether it will go up or down. Crypto is interesting because it is a relatively new type of asset so there's not as much historical data. For example, looking back at the US stock market, it doesn't really matter if you buy high or low, since (historically) it always goes up. For crypto, we just don't know. They could continue rising and become the only currency in the future, or they could become completely worthless. Or somewhere in between.

Personally, I think the value of crypto will decline once the pandemic clears and the world returns to "normal". People like crypto for the same reason they like gold, as a store of value in times of economic uncertainty. That's why it's been on the rise recently.

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The only real tangible value to crypto is the fact that it has a limited supply. Most of the other factors that were promoted by the use of the currency have since really been abolished.

As long as you are capable of selling someone else your bitcoin at a higher value than you sold it, then yeh its a profitable investment. I personally however would prefer to invest in something a bit more substantial like a company in the share market. 

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  • 2 weeks later...

I think considering crypto as a long term investement could be worth it, much better than anything a traditional bank can offer. Stick to well-established coin (Bitcoin isn't going anywhere anytime soon), and you can make a decent chunk of money in a few years, with little. Just don't spend your time looking at charts, buy a bit right now or regularly like every week or so, and check back every few months.

 

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Good information, thanks! But I still think that I need some lessons. The information that you provided is for people who have already experienced this, but not for a newbie. I started to look for the information and found a very interesting blog about forex. To tell you the truth I was really impressed by his story. It is a real one and I understood one more time than if we work really hard we obtain what we need and want. So, I found a good piece of information about vtsax vs vti on https://www.howtofire.com/vtsax-vs-vti/, and I will trade with them.

Edited by Severuss
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Case in point - Whale addresses containing bitcoin digital coins have now reached a never-before-seen level. There are more than 94,000 BTC addresses that are holding at least $1 million worth of bitcoin tokens. This is a significant and noticeable jump in big fish addresses since the start of the year. This Thursday Bitcoin reached a record high price of $52.500.

Source: https://theforexreview.com/2021/02/19/bitcoin-millionaire-addresses-at-an-all-time-high-at-94-000/

Currently BTC is over $54,000 and in it remains bullish. I think that pretty much answers the question whether investing leads to profits. If one has managed to buy it when it was low and hodled until now, they've become rich.

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