We often see posts saying if you had bought so and so stock 15 years back, your 1 lac will be equal to 500 crores etc. which does not make any sense because in hindsight,things always seem simple.
Bitcoin , the leading crypto is no such exception to such crazy hindsight comparisons.
What people will not say is this : It fell more than 80% from All time high thrice, more than 40% six times and more than 30% 6 times.
How many would have held through all these bouts of extraordinary volatility? and can we have a currency in future which is as volatile as bitcoin?
There is no way I can hold something going through an 80% correction and especially if it forms a substantial part of my net worth.
Also, I’m in my early 30s but I’ve realized that spending sleepless nights for some more money is not worth it at all. The best things in life are those which money can’t buy.
I absolutely agree with you. It is just a marketing gimmic, I guess this is said to create a FOMO effect so that people will invest more. Never heard of these guys when the market had crashed in March 2020. All of them just disappeard and everyone was talking doomsday when in fact shares of good business were available at a good rate.
The even more surprising I heard about crypto, Is that it has derivatives!!
Bitcoin is indeed volatile. The volatility is more derived from the fact that it is a new asset class based on an unfamiliar technology and hence the market has been unable to price it in. Once market participation in crypto space picks up I think that we will see some stability in the prices and gradually it will become as volatile as an investment in large companies, at least that is the hope.
Cryptos across the board just crashed over 20% casually If i were to place a friendly bet…The highs that these cryptos touched off late…these should not be visited for a considerable period of time
Most of the headlines about this fall is attributed to the omicron variant but I firmly believe the fall is due to the stance by the Federal reserve to raise the interest rates and the interest rate cycle has just bottomed out