Bitcoin Disappointed Most Investors. He Has Lost 83% In The Last Year.
Exactly a year ago, the madness surrounding the cryptocurrency Bitcoin peaked. People bought it in bulk worldwide. Even people who had almost no investment experience found the courage to invest in Bitcoin. How did their investments turn out?
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The higher the price, the higher the interest
A few months before the end of the year, it started to boil. Bitcoin is almost $ 20,000. I was regularly asked questions about Bitcoin, even though I never mentioned Bitcoin in any article.
They asked me for my opinion on whether it is worth investing in Bitcoin, how to buy it, where the price can go, where they can buy it, whether I invest in it myself or whether they should sell it if they already owned it.
I persuaded the vast majority of people to buy Bitcoins, and I instructed a few people to sell them if they had already bought them. This may not be professional, but that’s how I felt it was right at the time.
Despite my efforts to sell my opinion that it is necessary to buy cheaply and sell expensively, I have not convinced everyone. It’s a shame. Developments in 2018 showed that this was the right way to go.
How did people who didn’t sell Bitcoin at the right time turn out?
Some forecasts from 2017 said that at the end of 2018, the value of Bitcoin could rise to 60,000 to 100,000 USD. They had a lot of arguments for that. I have a feeling that a lot of people believed that.
However, some forecasts said that Bitcoin was already in the bubble, and the price could fall significantly. Nobody wanted to hear this again.
As it turned? Who did not sell at the end of 2017, so the value of his investment could fall by more than 83%?
Over the last year, Bitcoin can be assessed as a disastrous investment. The worst part is that most investors bought expensively and experienced a decline in their investment, respectively. Speculation.
They bought at the end of 2017 and still own Bitcoin, so he has nothing to envy.
Who earned on Bitcoin?
The people who owned Bitcoin in 2017 and sold it very decently at the end of the year.
Yes, these are dizzying numbers. This does not mean that Bitcoin is a good or bad investment. I do not invest any money in Bitcoin. And I don’t recommend it to my clients either. However, I am not saying a radical no.
Is Bitcoin speculation or a standard investment
I believe that Bitcoin is more suitable than speculation, and you can only invest such money in it, which, if you lose it, will not bother you at all.
The vast majority of people in Bitcoine lost their money, and some people made perfect money. They earned those who bought cheaply and sold expensively.
Why am I writing all this? I tidied up my emails, and maybe you know that too. I started the old communication. I found some of my comments on cryptocurrencies and Bitcoin, where I answered people’s questions.
People afraid to invest in mutual funds, which I often write about, got the urge and courage to invest in Bitcoin. Suddenly, investing in cryptocurrencies may seem like an irresistible thing to many.
You can already see from the charts above how those who invested turned out. Someone earned, someone remade, and it depends on the time of purchase and sale.
I got the urge to write something about it and maybe organize my thoughts and at the same time confirm the correctness of my decision last year.
Do you want to invest your money?
Under no circumstances should you take this text to recommend investing in Bitcoine or other cryptocurrencies. I do not yet invest in cryptocurrencies, nor do I recommend them to clients. If you want to invest in Bitcoin, then only the money that, when you lose, will not bother you at all.
Take it to demonstrate how it can turn out if you get carried away by the crowd and see a quick profit like a fairy tale. It is simply true that you can gain a lot. You can also lose a lot. And there is an important rule – buy cheap and sell expensive.
Many economists claim that Bitcoin has no value, only people’s belief that it has or will have some value. And I admit that even though I’m not an expert on Bitcoin, I can agree with that view.
The vast majority of investors buy Bitcoine as a speculative investment. It’s a simple fact. The actual use of Bitcoin in the economy as a substitute for the official currency is still complicated to find. We will see what the future holds.
If you are interested in investing and want advice, you can write to me via the form below. I can help you choose and set up a suitable investment product. But it won’t be Bitcoin.
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