Post
Topic
Board Economics
Re: What's Next? After Bitcoin Passes The 60K Mark......
by
AndySt
on 23/04/2021, 23:15:54 UTC
That's a wrong perception, trading is only profitable if you are good and not all traders are profitable, bitcoin is helpful as an investment and a payment system but it should not be viewed as an easy profit generating machine as your fate in crypto depends on how you handle yourself.
I absolutely agree with you that due to the huge volatility of cryptocurrencies, calculated in tens or even hundreds of percent, there are two possible possibilities: just as it is really easy to make money, it is also very easy to lose your investment. Therefore, it is necessary to constantly remind new people about this, who come to the market and after losing a lot, then become disillusioned with bitcoin and other cryptocurrencies for the rest of their lives. Therefore, only the constant search for new knowledge and new information can help to avoid many of the losses that are typical for beginners. By the way, I think that the current drawdown of the bitcoin price in the region of 50,000 is a very significant milestone and if the price goes below this mark, we can see a correction of the exchange price by tens of thousands of dollars.