The cryptocurrency market has halved in less than a month and the biggest financial bubble of all time just popped (also cryptocurrency). Plus Facebook just started disallowing FB ads for cryptocurrency for good reasons.
https://mashable.com/…/cryptocurrency-market-halved-bitcoi…/ and http://www.businessinsider.com/bitcoin-the-mother-of-all-bu… and https://www.facebook.com/…/new-ads-policy-improving-integri…
Any seasoned investor would have a 20% plus trailing stop loss and buy on the big dips over 50% (some will argue over percentage). Otherwise, it’s gambling.
But a vast majority of cryptocurrency experts don’t say that, they only give advice to get in now and hold. Heck, in my opinion, most cryptocurrency experts have zero real investment experience. Hence, why some say “You’re stupid if you don’t invest now” and “You just don’t understand”. It’s not for everyone and should be limited to a small percentage of your investment portfolio.
Cryptocurrency technology is really good. There is a lot it can do. But, to say that cryptocurrency isn’t like anything before and it can’t do anything wrong is missing the point that investments also have the human factor which has not changed. When cryptocurrencies went “main-stream” and mom and pop’s got involved the writing on the wall appeared (regulations). Many countries are putting in regulations to protect people that really shouldn’t own any cryptocurrency anyways. To think something like this would always stay free from any and all regulation is crazy really.
People want currencies to be stable. Cryptocurrencies are not stable yet. Hopefully in the future that will happen. The technology is undeniable. But buying products with a currency that fluctuates so much isn’t usable. It’s the wild wild west right now.
And no one is actually using a cryptocurrency for actual currency and buying regular things. How could you when your grocery bill would go up and down so drastically.
Right now it is promising but gambling none the less. And I’m optimistic one or more will work out.