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TRACK THE TOP 10 CRYPTOCURRENCIES OVER TIME: https://toptencryptoindexfund.com/
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CRYPTOCURRENCY RISKS:
As The Market Sentiment Blog points there, there are 4,300 publicly traded companies in the United States – but there are more than 15,000 different cryptocurrencies – and, of the more than 40,000 coins that traded in an exchange at least once in the last 10 years, only 38% are still alive.
In terms of buying Bitcoin, since 2013, “If you invested a lump sum into Bitcoin instead of DCA, you would have come out on top ~66% of the time. Since Bitcoin has extreme volatility, DCA outperforms only during drawdowns.”
WHY BITCOIN HAS INCREASED IN PRICE:
The community is rather bullish on a new proposal that would support, rather than criminalize, cryptocurrency by creating what’s known as a “Bitcoin Reserve.” This was initiated by senator Cynthia Lumis, that “would make the United States the largest government Bitcoin holder, equating to about 5% of the network’s total supply—similar to the country’s stake in global gold reserves.”
It’s also said that “We want to make sure that we have the openness to having bitcoin as part of the Federal Reserve and as a reserve asset because of its potential for appreciation and because of its potential to allow America to set the financial standards.”
WARNING TO ALL INVESTORS:
When it comes to 99.9% of Cryptocurrency, it’s the Wild Wild West, anything can happen, and you need to be prepared to lose. At the end of the day, I don’t mean for this video to discourage anyone from wanting to participate – but, I want it to serve as a reminder that this type of investing is inherently risky, and by understanding why so many people lose money, you can better adapt your own style to one that’s sustainable – and hopefully – profitable.
I think it’s just a good trait to hear different perspectives, hear people out, and be open to the idea of something new. I think maintaining an open stance, doing independent research, and then forming your own opinion will go a long way for everyone watching.
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