The Cryptocurrency Tale:
Brief story:
Investing in crypto is a very lucrative business in the past, present and hopefully for the future. Bitcoin was literally unheard of in 2009 when it was made until it hit the headlines 1 bitcoin selling for a staggering $11,500 per unit (early December of 2017). The legendary Nakamoto had hirtherto created a digital currency that broke the Internet and shook the world.
For the past year I have been a cryptocurrency enthusiast. I've been buying and selling cryptos; both digitally and through trading brokers. There is really a difference:
First, you could trade as an asset, that is, stating whether the market price will go up (buy) or down (sell) by the closing price. You are paid in percentages and if you know how to time the market, getting percentages of about 110% profits are really normal. Its intentions are for the long-term investments goal thus requires a lot of patience. Some trading sites like Robinhood and IQOption are really good brokers but beware that risks are high! Research highly before investing in the market.
Second, you could buy cryptos at a reasonable price and bid small fractions to other people while making a profit off the purchases. Localbitcoins and Paxful are the best at this so far (according to me) for buying and selling cryptos for every currencies and platforms. This ranges from the Euro to Dollar to even the Kenyan shilling in their mobile wallets. I've seen people profiting from as much as $20 per $200 exchange of Bitcoin and Litecoin. Try it out if you would like quick profits.
Research:
With a current market cap of $66.16B and a change of $55.74 from the previous closing price (at the time of writing) clearly shows the extent of the market's volatility.
This means that according to most sources, the Bitcoin is expected to go up in 2019 judging by the technical indicators and fundamental analysis. My disclaimer is that due to its volatility and inability for anyone to predict the market, it is quite unsure of the outcome. This is no investment advice, just my honest opinions.
At about $3,789 per bitcoin, I could see it reach $5-8k by the end of 2019.
Coindesk. Bitcoin all time price index chart.
In finance, volatility is the degree of variation of a trading price series over time as measured by the standard deviation of logarithmic returns. Historic volatility measures a time series of past market prices. Wikipedia
Banks such as Citi Bank, Deutsche Bankand BNP Paribas, Barclays have stated they are considering way they might be able to work with Bitcoin. Meanwhile the blockchain technology has sparked interest in the hearts of many and this is just the start.
Conclusion:
In my opinion, based on the market volatility especially in the cryptocurrency domain, I think trading cryptos like Bitcoin and Ethereum is quite a gamble. The risks involved are very high and unless you know what you are doing, I won't advise anyone to enter the crypto game.
I just feel I should take a step back and take in the idea of indices, company stocks and forex. It might not be so bad after all!
Thanks to my previous upvoters and commentors: @bunterpanther @patrizius92 @tuanis @naythan @eshtre.art @taskmaster4450 I really appreciate your support!
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