So as most people know, bitcoin has been the latest mainstream topic pretty much everywhere lately. We are hearing about bitcoin being a pyramid-scheme, bitcoin going up near 100,000$, bitcoin futures, and for each minute the hype gets bigger and bigger.
I myself own a bit of bitcoin which i occasionally trade to different altcoins, which i find interesting. Usually it is because i find the technology astonishing or i believe in the certain altcoins platform. And with the recent rise of bitcoin and altcoins in general, it seems many people get the impression, that bitcoin is the one lucrative investment we all have been waiting for. Your mom, your dad, your neighbor, your doctor, everybody seems to want in on this amazing investment, which is skyrocketing to the moon, like never seen before.
As a big fan of the blockchain technology i think its great, how many people are noticing bitcoin, however it might be for all the wrong reasons. Previously people who invested in bitcoin, saw the potential, of bitcoin. How it could become a digital currency, and how it in many ways could change the way, the traditional currency system works. Blockchain is still at a very early stage, and this proves a lot of potential for the blockchain technology, seeing how it has exploded exponentially.
When people see bitcoin for its lucrative rise, and not for its technological potential, it begins to worry me. People who have done no research at all jumps on the wave, which pumps up the value to unrealistic heights.
People are taking high rent mortgages in their houses, cars and other valuable personal belongings, just to try to jump in on bitcoin. The most concerning thing about this is that the gap between value and price are increasing by the hour. This is concerning to many, but the consequensces are yet unknown.
Nobody knows if the price is going up, down, left, right doing a loop, or what is going to happen, however; one thing to notice, is to be extremely cautious, like many other people i suggest, that you only invest, what you can afford to lose. Over time the crypto-market will adapt to this sudden rise, and the hype will eventually fade. Nobody can predict the future of bitcoin, but one thing is for sure, we are in for a ride.
Great post,i`m in for a ride and this is for sure
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Thank you. This is my first post here. For any feedback please let me know :)
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