Is it dangerous to invest in bitcoin
I am not against any cryptocurrency, however in the sense of investment it is very important to know which cryptocurrency is sovereign and has a serious project behind it that does not depend on the investment decision of a billionaire.
The above described gives us to think that bitcoin has shown vulnerability because it is a volatile currency every time a billionaire decides to buy a high amount and make the price go up, but suddenly these billionaires withdraw their cryptocurrency and make the prices go down.
Actually, I thought that bitcoin is a project that could maintain sustainability without depending on these big millionaires, maybe I am wrong and it is not only bitcoin that has this negative point, but I think that when there is a solid project behind a cryptocurrency, if a billionaire sells, there may be others who buy because there is a degree of reliability.
In the end that is why I say that investing in bitcoin is a danger, because apart from the fact that it costs a lot, a tweet from Elon Musk saying that bitcoin is the best thing in the world and makes it go up to 60 thousand dollars, and then he comes and says that bitcoin is bad because when it is mined it is made with electricity derived from fossil fuel and it comes back and lowers the price.
I think the world of investors should have more investment security and not sell because a person simply says that a cryptocurrency is bad or good, if there really was a project behind any cryptocurrency, there would not be unfounded fears as there are after Elon Musk's tweets.
I want to close this post by reflecting on the following situation: Suppose we want to analyze our steem coin, this is a cryptocurrency that personally gives me confidence to invest and to keep in my portfolio, since steem is a cryptocurrency that has a serious project behind its mining, since with this cryptocurrency everything we do in terms of content generation (blog) and games implemented within the blockhchain is valued, so there is a need to buy steem to invest in steempower and place healing routes and get hive for that.
I want to emphasize that I am not an expert in these topics, I may be wrong in some things, however I would like to know your opinions in the comments.
Visit our partner www.steemscan.com/convert if you're looking for easy and fast way of converting STEEM to other major cryptocurrencies.
Hello dear friend, no doubt the crypto market is very volatile, that makes it attractive to some people, because with accurate analysis can earn a good amount of satoshi, on the other hand, for those who do not have large capital to invest would be good to do it in another crypto that allows you to capitalize more profit, for that as you mention we must make an excellent technical and fundamental analysis. I believe that many alternative cryptos will increase their value with this fall of bitcoin, we still have to wait what will happen.
See you later, have a great week.
Hi friend @sandracarrascal.
Great analysis amiga, historically cryptocurrencies have been characterized by being very volatile and very influenced by external agents to that market, however, it is important to have a variety of cryptos as some are less volatile than others, but, patience is the main tool when we decide to participate and invest in the exciting world of cryptos. Greetings friend.
Hello @sandracarrascal
Outstanding feature of cryptocurrencies is that, volatility, it is the reason why many people don't like them, however it is the same reason why others seek them, because learning to profit from this.
Any investment is risky, there is no doubt about that, but when it comes to cryptocurrencies, it is even riskier. It is a reality.
Hello Friend @sandracarrascal.
Our cryptocurrency, Steem, like most cryptos, is often influenced by fluctuations in BTC, but it also has the backbone of the decentralized social network project that exists.
Currently, the dominance of BTC is below 40% which implies that a lot of capital is going to move towards altcoins. I am sure that a large part of that capital will come to the Steem blockchain and thus increase its' price / value.
As regards investing in anything, a good investor is guided by his own decisions and not what really what the majority does. Steem is a cool project, just like numerous other cryptocurrency projects, it's hard to choose.
That's the solid point and this is what i see in any crypto project. Very good project with great use cases as well as strong team can give you surity to buy in even dip. I think we should accumulate this type of coins. Great post.
There will always be the risk even in small businesses. I think it's better to take chance than nothing.
No doubt that people shall not follow what a Billionaire says, like Elon Musk, because those tweets are for his own benefit mainly if not only so if people keep following what he says he will just get richer, but well the richer you are the more control you have and that's how it goes these days.
I don't think so as bitcoin is the Godfather of all the currency if bitcoin run all other crypto also run. And it is the best time to invest in crypto as currently 35k is a nice buy for long term.
Dear @sandracarrascal
Quite dramatic title :) Surely got my attention right away.
It all comes down to size of the market. And crypto is growing every single year, making it harder and harder for wealthy investors to manipulate. Wouldn't you agree?
If we would like BTC to be sustainable without depending on these big millionaires -> then we would also have to assume that BTC would not be worth even 10% of what it is worth today. That's also reality we cannot forget about.
ps. Check out my recent QUIZ. You may find it interesting and worth your time:
https://steemit.com/hive-175254/@crypto.piotr/join-my-newest-crypto-quiz-today-for-crypto-maniacs-only
Yours, Piotr