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Do you want to buy Bitcoin

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Buy Bitcoin

buy bitcoin

The investment in bitcoins has been on its full swing these days, as its price have been rocketing. But soon this may turn out to be a bubble. If you are thinking of buying bitcoin or investing your $10k in bitcoins as an investment for future, then your ‘investment strategy’ is somewhat near to betting everything in the game of gambling. Though this high risk-high reward investment is not necessarily bad but this depends on how you invest in it.

 1).Recklessly buy bitcoin in bitcoins can be highly risky, thinking of earning riches quickly and becoming richer in a day may bring you to ground in a desire of earning sky.

2). One should not panic while buying bitcoins. Like “Damn,let me sell them as the price is quite low.” Or “let me buy now as the price is rocketing at $1 million and price may increase further”.

3). Investing more than you can afford to lose may not be profitable. As we know, bitcoins are highly speculative, so no investment advisor will suggest you put your entire life savings in bitcoins. There is no mathematical proof that the cryptographic algorithm used in bitcoins is secure.

buy bitcoin
The world based fiat money is no doubt on the shaky ground and is getting worse per day. There is a very good reason that BTC has a larger market cap than any fiat currency.but for goodness sake don’t except that the value of bitcoins will continue to increase exponentially throughout. I do believe that there will be a crash at some point. This crash can as small as $5 or as big as a few million. And if you thinking that investing a small amount may not be risky, then you need to consider your decision again.

  • Some points you should consider-

1). Buying bitcoin at the time of the high prices can be risky. One must try to buy them at low prices and sell when prices are high.

2).If you look at the past, the price of bitcoins was $1163 on 29-11-2013 and dropped to $152 on 13-01-2015, which is a downturn of nearly 86.9%. Do you think you can survive this? I’m not saying this will happen again but this can happen if it hbuy bitcoinad occurred in the past.

 

3).Avoid panic while buying and selling bitcoin, buying in the case of high prices and selling when prices are low are not profitable at all.

4).It is next to possible that the price that reach to infinity on real terms, everything has a ceiling. Bitcoins does not have a plenty of room to grow , before it can take the entire world.

5). Bitcoins is merely an experiment. A rational person will not spend a large amount on them. I personally , will not spend a higher assets on them, even if I’m confident that the prices will be high in future. I simply don’t believe in its philosophy or the riches it can provide me with.

6).It is usually adviced to distribute your assets rather than just investing in one and increasing your risks. So, I would suggest you to spend on other cryptocurrencies as well if you want to reduce the risk that can generate in future.

7).A subsequent and high increase in bitcoins will result in downfall in economy, and people will believe less in fiat money. Ask yourself, is it so easy to create a downfall in economy, and government won’t intrude in cases like these do occur?
Just that I’m not asking you to not invest in bitcoins, but to consider your decision once and spend wisely not recklessly.

Report : Simran Ahuja, ( [email protected])

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