When you invest in cryptocurrency, you have to be prepared that you could lose everything.
Cryptocurrency is considered a risky investment.
But it's also the type of investment that promises the highest return.
Nowhere can you make money money on an investment than through cryptocurrency.
If you buy the S&P 500 you can make about 12% per year.
Private equity funds deliver about 30% per year, although everyday investors don't have access to private equity funds because they require a minimum investment of hundreds of thousands of dollars.
Some tech companies promise higher returns, but it requires a real eye for picking the right ones.
Buying property and holding that property over a long period of time provides okay returns. Unless of course you flip a house, in which case you are betting that you can raise the value of a property significantly through the work you devote to it.
So really, if you want to make great money, cryptocurrency is the best opportunity right now.
But you have to be willing to ride out the ups and the downs. Volatility in cryptocurrency is just part of the process.
Right now, it's the "whales" that are driving down the cryptocurrency prices.
A whale is someone who owns millions of dollars of crytocurrency. It's the old bitcoin owners in the top 100 holdings.
They are selling their bitcoins in an effort to scare off feeble investors so that they can repurchase their bitcoin at a cheaper price.
That's why you should never sell, even when the markets seem like they are moving down. They could decide to pump the price at any moment, and if you decided to sell at 3,500 when it seems like its going down, suddenly its back up at 6,000 and you've lost an opportunity to regain your profits.
So the best strategy is to just ride the waves.
It's all just part of the process.