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Most of us probably know at least one cryptocurrency, and it's most likely Bitcoin. Bitcoin became very known, as its price spiked all the way up to $20,000 and crashed down to around $6,000. Most investors money got wiped out and now believe this is a scam, but why? Just because you lost money? Investing legend, Warren Buffet believes that bitcoin will never reach its goal and is a scam. If it's a scam how did it go from $0.006 to $20,000. There must be a purpose, but he's just a broad and simple guy who is not really interested in the technology section. That's why he hasn't invested in either Amazon or Google.
Bitcoin is not the only cryptocurrency.
Bitcoin, of course, is not the only crypto. There are over 1600. Yes, 1600, and it's still growing. Some other known ones include Ethereum, Litecoin, Ripple, Bitcoin cash, and the best one Dogecoin! Bitcoin is the head, but all the other alt-coins are the backbone of crypto. With good news coming and partnering for most, it is set to make many people . I am currently a "Dogecoin HODLER" which means holder. It is currently worth $0.0036 in the publish date. It is a meme coin with a lot of projects planned, but if they took things more seriously it might be able to reach full potential. But still, #DOGECOINFORLIFE.
Why are there so many?
There are more than 1,000 crypto’s, but why? Each one has its own special ability. The better they are, the more the price increases. Bitcoin isn’t usually the best one, but since it was the first one and the creator, it is considered the head of the market with the most market cap. It will be really hard for Bitcoin to go from $6,000 to $60,000 rather than Dogecoin going from $0.004 to $0.04. It’s just too expensive and Dogecoin doesn’t even have a max amount of supply. People should be buying doge because of its low fees and having lots of fun. It’s a great coin. Don’t look at every day as it’s going to haunt you to see that your money has fallen by 50 percent. That’s crypto. It’s very volatile. Your money either gets a huge buff or a huge loss. Go big or go home.
This is a huge opportunity for the market. The SEC is expected to make a decision on November 5th whether the ETF should be accepted or not. If it is accepted the price is going to skyrocket just like how gold did in 2007 the price increased by 3 times. This is going to make the market skyrocket more and make it very volatile, but new investors are going to hop on as they see a great opportunity joining the stock market. Even with the really big news, the cryptos haven't responded much. They are all flat and readying up their fuel. This is going to be HUGE! Don't miss out on this opportunity.
Why It Is The Future
As we think of the future, we think about technology and everything advancing. Why can’t money? Digital money is improved money. The skeptics keep talking because they missed out when it was cheap, but it’s still cheap. It’s actually even too early to buy, which is better for early buyers. The next five years look bright, as they seem to be making big partnerships and bigger projects coming. To start buying crypto you can go to the most reliable site Coinbase or even Robinhood for stocks and crypto.
Prove the Skeptics Wrong
When many people think of crypto they see it as a scam or something worthless comparing it to a dollar and saying fiat currency is better. If you have a friend like this, DON’T BE FRIENDS ANYMORE. Jk.... People don’t understand the great amount of wealth this has potential for many investors. Just like the internet bubble no one believed in it and only the rare people invested in it and turned it into millions and even billions by making businesses. Bitcoin is still in a bubble. Without any form of use it reached to about $700 billion in cap room. If someone doesn’t agree with Bitcoin being the future please ask why. They’re most likely looking at Bitcoin falling from $20,000 to $6,000 or that you can’t trust the internet. The real question should be how did it reach $20,000 with no use. Imagine if crypto was used in our day to day life. The market cap would at least be $10 trillion. The investors would be cashing while the skeptics will join in the bandwagon since it's rising. Many people have a problem in this situation. Most people buy when it’s high, sell when it’s low. To not be like the majority start investing in crypto and think outside the box and don’t get stuck like others. You are who you are.