Is Crypto currency a safe investment for long term holding?

G

Guest

Guest
My crypto currency investment is a love hate relationship. I have ample investments is some better known crypto currencies for almost a year now.

When i started putting my hard earned money in Bitcoin, LiteCoin, XRP, Dash, Etherium last quarter of last year, it was the hottest investment so far. My investment more than doubled for a few weeks. It was really exhilarating to see all your crypto investments working while you sleep. Literally. my stocks were all green for the rest of 2017.

Come 2018 early January. There were so many negative news, publicity that sparked panic and fear to first time investors like me. There were free fall of stock value. From green, my investment started to fall quickly to red. All my earnings were gone. I saw many investors jumping out of the sinking ship. I was in total panic. I cannot sleep nor eat properly because my money is being flushed every minute. I got the urge to cut it off and close my investments to halt the bleeding and salvage all that was left.

On that moment, I kept on reading articles, blogs, and things to do while your investments are turning sour. Those articles and blogs were my life saver in turning me into a relaxed man.

With much knowledge and experience, I suppose, I decided to weather the storm and ride the ups and downs.

As of this writing, my investments are still red but starting to recover from the blood bath. My cryptos are now slowly crawling back to life.
As per think tanks and major investors, they are projecting for a massive recovery and hitting all time highs on the crypto currency market this year.
I guess this new ecosystem is still on its infancy and many more developments are in store. I just have to enjoy the roller coaster ride while hoping and praying that my investments will recover soon. Well, not just recover but multiply to greater heights.

Crypto investment is not for the faint hearted. If you want a safer haven for your hard earned money for future use, then I prefer the old school stocks. It may not be as high yielding like the one I have, but you will have some sort of peace of mind. But always remember that stock investments are volatile even old school investments. Always be on guard and enjoy the ride.
 

DenisMNE

New member
How can something that has no support of international banks, governments, be good on long term ?

I would suggest keeping out of the cryptocurrencies because they are unstable and are depended on how many people are willing to risk everything with them.

I tried mining bitcoin and gave up, few years ago, of course it makes me chuckle when I see that it reached 10.000$ some time ago, but do you ever hear of Bitcoin millionaires on the news ?

You get an article about the once in a while but nothing big.

In my opinion, these kind of stuff should be avoided on longer term and in short too, if they do not make any profit from the start.
 

ion

Member
Well, I think aside from investing and fallow the flow of cryptocurrency, you should also read the news about the cryptocurrency. There're a lot of big headlines before the bitcoins and other cryptocurrency reach that low lever price. You should consider this news and withdraw your earnings, China, India, and some countries in Europe partially banned the cryptocurrency, and that's the other reason to affect the cryptocurrency price.
 

kathness

New member
I strongly believe it isn't good for long term investments. Cryptocurrency isn't really mandated by any government institution. So that actually means, if it goes down, you can't have your money back in any way possible. Also, it is so volatile and unstable that your money may lose its value over time.

That being said, I think Bitcoin, or cryptocurrency in general shouldn't be a form of investment. May it be long term or short term. This is because I believe an investment is something that may increase the value of your money over time. And cryptocurrency just doesn't do that.
 

Inem

Active member
How can something that has no support of international banks, governments, be good on long term ?

I would suggest keeping out of the cryptocurrencies because they are unstable and are depended on how many people are willing to risk everything with them.

I tried mining bitcoin and gave up, few years ago, of course it makes me chuckle when I see that it reached 10.000$ some time ago, but do you ever hear of Bitcoin millionaires on the news ?

You get an article about the once in a while but nothing big.

In my opinion, these kind of stuff should be avoided on longer term and in short too, if they do not make any profit from the start.
I totally support our assertion I can't risk my hard earn money in cypto investments, it just too volatile for one to look at it as a short investment let alone long term.I wouldn't waste my money on it no matter the profit I will do more of claiming it than investing money in it.
 

Rainlover207

New member
How can something that has no support of international banks, governments, be good on long term ?

I would suggest keeping out of the cryptocurrencies because they are unstable and are depended on how many people are willing to risk everything with them.

I tried mining bitcoin and gave up, few years ago, of course it makes me chuckle when I see that it reached 10.000$ some time ago, but do you ever hear of Bitcoin millionaires on the news ?
 
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