The answer is NO!
I want to share with all those who may be brand new. I first discovered Bitcoin when they were trading for just a few dollars. I had no idea what Bitcoin was, nor how to use it. I found some initial interest in it, but I didnt understand how to buy them. I wanted to, and then I became discouraged, so I walked away. I saw the price spike upward to around $900 and I reacall saying. Wow I could have bought these for a few dollars. Then the price dropped to just over $100, and I bought just a little. I wish I would have bought more of course, looking back.
I had a similar experience when I bought Ethereum. The second largest cryptocurrency. I already had a Coinbase account with a small amount of bitcoin. I rmember talking to a friend about Ethereum, without any understanding of what it was in comparison to bitcoin. I bought some some around $12. Then held them in my wallet for about 1 year. The price went below $10. I thought to myself, I made a bad investment. One year later, the Ethereum price came above $13, and I sold my Ethereum.
THIS WAS A BIG MISTAKE!
Two weeks after selling my Ethereum coins, the price took off to around $50! Then onward and all the way up to around $400!! I could've made a huge profit, and my financial situation would have been dramatically different had I just held onto my Ethereum coins about 1 month longer. I was reactive. I saw the first opportunity in a year to sell and get out (without losing money), and sold out before the bonanza on Ethereum.
BE PATIENT
There are alot of excellent alternative coins out there. Some excellent ones, and alot of Shit-coins too. So take your time, research things, and when it comes time to buy some great alt-coins, just hold onto them for awhile. We are still in the Wild Wild West of this new disruptive technology. I believe we have not even began to scratch the surface and there are going to be. Many more fortunes made with each passing day of a rapidly expansive disruptive market, as we enter into the world of cryptocurrencies.It may take years for some of these altcoins to become widely established. Many of these coins will have alot value years from now in my opinion. I believe it is a matter of time before the mainstream media accepts bitcoin and altcoins. Eventually, as things go more mainstream, there will be alot more acceptance of cryptocurrency with many more uses beyond what we can imagine today. So it is going to be interesting and exciting to watch things develop, just being here in this space this early and involved with Steem is huge. God bless you, and good luck to you.
If you have read this and you are here on Steemit. Your not too late. WELCOME!!
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