I have been reading the posts on this forum and so many people are saying they lost a lot of money and bitcoin is no good. Many people are saying that bitcoin and other cryptos have been a bad investment.
But if we look at the facts and the performance and compare to other investments that some people make we can see that this is not the case.
People are making the mistake of focussing on price changes on a day to day basis but investment is not about day to day price movements. It is about patience and reward.
If we look at the changes in one year we can see that bitcoin has performed many times better than all other investments. For one year bitcoin has gone up a massive amount. It was $900 this time last year! Now it is $7000. That has given bitcoin investors an incredible 700% return in just one year. The stockmarket average return for the same one year has given only 2% return. Fiat money has fallen. The dollar has gone down by 15%. Savings accounts have given a return of about 1%.
When you look at the returns and losses of all these investments, the best was stockmarkets that gave average 2%. So bitcoin has given 700% yet people are complaining that it has been a bad investment, even though it is 350 times better than the next best investment. What other investment has given you 700% profit in one year?
Remember, don't be fooled by day to day price changes. Look at the one year and the longer term facts. When you look at these you can see that if you invested in bitcoin you have made many more profits than everything else put together hundreds of times over.
But if we look at the facts and the performance and compare to other investments that some people make we can see that this is not the case.
People are making the mistake of focussing on price changes on a day to day basis but investment is not about day to day price movements. It is about patience and reward.
If we look at the changes in one year we can see that bitcoin has performed many times better than all other investments. For one year bitcoin has gone up a massive amount. It was $900 this time last year! Now it is $7000. That has given bitcoin investors an incredible 700% return in just one year. The stockmarket average return for the same one year has given only 2% return. Fiat money has fallen. The dollar has gone down by 15%. Savings accounts have given a return of about 1%.
When you look at the returns and losses of all these investments, the best was stockmarkets that gave average 2%. So bitcoin has given 700% yet people are complaining that it has been a bad investment, even though it is 350 times better than the next best investment. What other investment has given you 700% profit in one year?
Remember, don't be fooled by day to day price changes. Look at the one year and the longer term facts. When you look at these you can see that if you invested in bitcoin you have made many more profits than everything else put together hundreds of times over.
I agree with you. If we compare bitcoins with investments like saving accounts or gold, bitcoins are way ahead in terms of returns. The people who call it bad investment say because:
1) Uncertainty in prices : Though bitcoins had been rising for last 8 years, some people go in loss as well. Bitcoin prices can go down as well and there can be huge crashes too. For instance, recently, prices dropped from $20000 to $7000. In case of bank deposits, you get guaranteed returns and there is no possibility of loss.
2) There are other problems with bitcoins like security. There had been many instances where bitcoin exchanges were hacked. A lot of people lost money because of this.
) but I had no intention on trading I bought it for hodl and I do not care what is the price now that is why I had no stop loss point . I know people that got in crypto for fast win they even sold there houses and yet they bought the top thinking they will double there money in a month or so and had no stop loss . 