Hello guys,
here i want to start a discussion about the possibility of getting rich with cryptos. if you start off with an amount of lets say max. 1k i dont think so. If we say you are able to invest like 10-100k you can still earn alot of money but in this case you are already very wealthy. Here is no enough space below this post to either say "Hey man you got it right" or just prove me wrong. leeeeeeeeeeeeets go
here i want to start a discussion about the possibility of getting rich with cryptos. if you start off with an amount of lets say max. 1k i dont think so. If we say you are able to invest like 10-100k you can still earn alot of money but in this case you are already very wealthy. Here is no enough space below this post to either say "Hey man you got it right" or just prove me wrong. leeeeeeeeeeeeets go
Had you invested in early 2016, you would be a millionaire already by the end of 2017 with just a few $ks. The gain back then was nuts, x10 - x1000 in just months. That's when the hype was at its peak, and that's when cryptocurrencies was at its best. But right now, most people are just losing money and very few are actually making a profit. Those who make profits are usually day trader, not long term holder like back then.
SO, in my opinion, yes you can still get rich with cryptocurrencies, although all the odds are against you (in my opinion). Not to mention the risks are bigger right now. Because as you can see, last night bitcoin went from $4.2k to $3.7k in just a few minutes! that's how fast you can lose your money in this market, and that's also how fast you can make money in this market.