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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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  • 2 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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