Anyone that didn’t participate in the tech boom or were just a little tot when this took place; you should pay attention now to this remarkable opportunity in cryptocurrencies
Back in 1995 when Windows and Apple Computer were the darlings of operating systems and computing, new and improved versions of hardware and software started allowing end users to use these tools and the internet more quickly and efficiently. Before we knew it an incredible tech revolution was just being born.
eCommerce began to immerse and companies started to realize the potential for this new technology to not only increase sales, but cut costs as well. If you weren’t alive to watch this, you missed an incredible front row seat of one of the best feature presentations of a lifetime.
New companies were sprouting up like weeds, and analysts were scrambling to try and create projections for their current and future earnings. It was like watching the IT department at your company scrambling to try and fix a system outage or glitch. Everyone was running around like a chicken with their head cutoff.
These companies offered new and unique services that were unheard of just a few short years ago. And many people didn’t understand the technology behind it; but they didn’t care. They just saw their friends and families 401k’s, Roth and IRA accounts soaring and wanted to participate in this tidal wave.
Fast forward to the year 2000 and the mother of all bubbles was at a historic peak. People were just throwing money at any tech stock they could get their hands on. And normal average Joes with no investing experience were becoming millionaires.
Once the bubble burst, only the strongest and most well managed companies that offered legitimate and noteworthy services were the ones that stabilized and went on to slowly gain value again as time went on.
I have worked in the retail financial sector for over 20 years and have seen companies in this area get clobbered because they weren’t prepared for online sales and eCommerce. As this area of business continues to grow, companies are going to look for technology and services that help them become more secure, more efficient and more user friendly. They will be able to avoid high transaction costs from credit card companies and banks, and streamline intuitive and fast software that helps promote and sell their merchandise utilizing smart phones and other fun and easy devices to transact with.
Plus, you have the added bonus of offering coins to store as value (similar to Gold or Silver) for investors that are leery of the world’s financial system and how countries debase or devalue their currencies to stay competitive; while hurting the savers and the elderly on fixed income.
This, my friends is why crypto currencies are going to be so valuable.
But the main point I want you to take away from this article is that if you compare this run up in cryptocurrencies to the tech boom, it’s like watching the 1st inning of a baseball game. This technology and the services these companies can and will provide is just beginning to scratch the surface and insert themselves into the human psyche.
Obviously it would be wise to do your homework and pick companies with valid new and upcoming services, sound implementation, a good team of developers and a vision for slow, solid future growth. This will insure that when you ride this gravy train and everyone and their mother gets on board, you will be invested in companies that the analysts on Wall Street believe to be sound leaders with optimistic growth projections.
These are the companies that will not only follow the tide of people just throwing money at any company they can get their hands on, but will also be the ones that get the most love because they are touted on CNBC and Bloomberg for being solid investments.
If you are just getting into the crypto scene and testing the waters, this is an opportunity of a lifetime since a lot of these coins have had significant retrenchments. This is far from a bubble in my opinion, and is the beginning of a new evolution in the technology sector. Yes, there will be ups and downs-even severe ones- and some may even blow up and never come back, but if you have the guts to stay in the game and sit on your portfolio for a few years, you may be able to retire in your 30’s instead of your 60’s or 70’s.