Leap of faith

Some many years ago, I believe it was the year 2009, a friend a mine said "There's a hot new thing which could blow up... Bitcoin...". At the time, it was approximately worth $10 per coin, I didn't think too much of it. What a regret that is...

Post credit crunch / recession Bitcoin (BTC) came out of no where, some had the courage and the money to invest in it; I call them the real winners of today. Writing this blog 1 Bitcoin is worth $6200, that is a whopping 62000% rise in just over 8 years. Did I buy any? I certainly did not. I believe my money went into the next McDonald's or KFC meal at the time, being the broke student I was and oddly still feel like.

Many stories have emerged online, such as a guy who paid 10000 BTC for 2 whole pizzas or the high school dropout who is a millionaire at 18 years old. There are definitely more stories out there, both success and failure however those are the main two that stick out.. No point dwelling about the past I guess. -cries inside-

So the question is: Should I still buy bitcoin now, is it worth investing in still?

Yes is the simple answer. Some analysts have projected various figures for what it could be worth in the near term. One that stands out would be $27000 by February 2018; insane don't you think? As long as there is hype and demand for crypto-currencies it should be possible.

How is the price for cryptos such as bitcoin valued? In all honestly, it is price manipulation... It is a decentralised currency but at the same time it is largely manipulated via the whales of the trading world. When the Morgan Stanley boss came out to say bitcoin was fraud, its price plummeted significantly from the $5500 to the $2800 areas. The whale will say one thing but look to buy just as price hits a low to capitalise on its investment. Price manipulation 101; trick the market to sell and buy up all the cheaper goods. Goldman Sachs did the exact same thing.

It is not just bitcoin; there are plenty of other altcoin, Ethereum, Litecoin, Dogecoin, the list goes on. All of which are worth quite the sum of money. Over the weekend I watched Bitcoin Cash pump from roughly $320 to $470; if you held 10 of those that would have been an easy $1500 in profit. Do you HODL (hold on for dear life) or do you try to capitalise on highs and lows? What type of trader are you? Either way I'd reckon you would profit by simply holding some Bitcoin in a secure wallet. Buy it, store it, forget about it, and look at it in 3 years time. Take the leap of faith (if you have the money to).


If you're rich send me some bitcoins please: 35vQaw5Cr2D7r3dt16CVdum2i5KJJzsgmd