Well… more and more people are on the side of believing “Cryptocurrency Bubble” is on the making; however, it’s that really what underneath the hood of this bitcoin sensation for the last couple of years? Also… does it matter if Bitcoin plunges today or for a few days? The history (although isn’t long since Bitcoin has only been existing for fewer than a decade … 9 years to be exact) shows that it does NOT matter if Bitcoin plunges for how many percentages today or a few days… it will bounce back even stronger than before.
The Wall Street Journal Bitcoin Plunges More Than 25% in Four Days
Remember the Chinese government jumped in and stopped the ICO (initial coin offering) in September? Bitcoin dropped as much as 27% and everyone was inferring that the Bitcoin had reached its peak and it would slide down all the way since the almighty Chinese government decided to intervene. So … what happened afterwards? The Bitcoin reached the record high last week (almost $7,900).
How Volatile is the Bitcoin?
Well… it’s very very very volatile. That’s why a lot of people are worrying about that there might be a bubble behind it. Even “the wolf of wall street”, Jordan Belfort, claimed that “Bitcoin is a fraud”… in fact, it’s the biggest fraud in the history of humanity.
How Wealthy Would You Be If you Invested $1,000 in Bitcoin 6 Years Ago?
It’s a whopping $3 millions … yes. $3,000,000… it’s a number 3 followed by 6 zeros if you invested only 1 grand in bitcoin 6 years ago. This is how profitable this market is … and how risky it might be since it might suddenly crush from couple thousands to 3 digits… you just never know.
What You Should Do?
Every one of us should know a bit about the fundamental of the cryptocurrencies, especially the bitcoin since its the leading runner on the race as of today. If you can afford to invest (which means that even if you lose the money, it won’t affect your livings), you should try to do that. Why? Even the nature of the worry of the biggest fraud exists, it seems more like it’s the future of the currency. Or rather, it will be one of the main players in the global financial system. So … rather getting in earlier than later will give you some up hands if there are profits to reap. If you would like to know the basic of it, you can read our post (“Cryptocurrency – The Future Of The Global Financial System?” ) here.