It is a few months that cryptocurrencies have boomed and grown again. For those who seek investment, trading cryptocurrencies and generally entering this arena and investment can be one of the available options. Volatilities of cryptocurrencies from the one hand, and lack of familiarity of the public with this technology and new tools cause some people and experts not advise entering the world of cryptocurrencies. However, it cannot be assumed as a fundamental error about cryptocurrencies. In fact, considering a stable market and rational changes and volatilities, will any other reason remain to prevent people from investing in this regard? Is investment in the field of cryptocurrencies a good idea? What do you think?
Do You Enter the Market of Cryptocurrencies or Not?
Advocates of cryptocurrencies believe that cryptocurrencies such as Bitcoin being unbacked, will put them in the condition much better than real cryptocurrencies; for example, in economic crises, this feature causes different people, and various investments get damaged less. Moreover, the process of growing cryptocurrencies has little increase even in 2018 when the condition was not very suitable. The fact is that cryptocurrencies are growing and their value is on the rise; in other words, cryptocurrencies such as Bitcoin, Ethereum and their other peers need time to reach an ideal point and acceptable stability.
Hence, those investors who seek getting to the immediate result, will not enjoy investment in a market wherein the growth needs patience and thought, and of course, will not get benefited. However, for those who look for a long-term but wise investment in the future, it will be a good option.
Is the Market of Cryptocurrencies Really Unpredictable?
The market of cryptocurrencies is not a predictable market. This is true. But not to that extent to generally avoid investment in them. The fact is that day by day awareness about cryptocurrencies will increase. Informing, ads, entering well-known companies such as Facebook, investment of famous figures such as Elon Musk and diverse news about cryptocurrencies and Blockchain network have caused creating hope and optimism about its process. Of course, this news sometimes is the very main reason to events taking place, which affect the price and value of cryptocurrencies. However, generally, all prove the constancy of cryptocurrencies’ presence in the world.
What Are Ebbs and Flows in Investment in Cryptocurrencies?
The answer to this question that whether to invest in the world of cryptocurrencies or not, there will never be an absolute answer. Since investment and activity in economy entail contingency analyses; that is, according to the time and status each person has in different financial, mental, familial and social aspects, he/she should make the decision about whether to start investment in a field or not. As a result, about investing in the world of cryptocurrencies, it is the same. Remember that although mining cryptocurrencies is not simple, these days it looks more comfortable than the past through developing related technologies. Furthermore, getting access to cryptocurrencies has become much simpler due to different applications. So, don’t afraid of cryptocurrencies and their entrance to their market. Assess everything and see to what extent it is consistent with you. In this case, you will make a suitable and correct decision. Welcoming of big names such as Elon Musk and Mark Zuckerberg and of course Bill Gates shows that cryptocurrencies are not a transient and valueless wave. So being aware of and looking at them as an important and serious issue can be appropriate to bloom your portfolio.