I've always been watching bitcoin since mid-2013 up to now, and the market/bubble is painfully toxic. I'm not a big investor or economist, and I probably still only have superficial knowledge on how the entire blockchain systems work.
I just patiently watch the graph, and keep telling myself not to invest because everyone tells me it's a giant bubble that will someday pop. Recently, I started to run a few side businesses dealing in Bitcoin as payment methods, but I've never stored it long term and always converted it to cash.
I remember back in 2014 when I first thought of investing in Bitcoin as a long-term investment, and obviously was pressured out of it because everyone kept thinking it was a bubble that was about to burst. I'm starting to think about it again now that Bitcoin is starting to crash - and generally speaking in the past it's done quite well after crashes, recovering and increasing every once in a while.
What do you guys think? Is it worth it to give it a try? This would be my second crypto investment, and I'd be throwing in $5-10,000 at most. Any ideas?
Well...as others have pointed out, perhaps you're too late into the game. But the truth of the matter is, you can never really know. Will bitcoin go to 100000? Will it go to 0.0000111?
No one knows, and that's the tricky part.
BUT: the question is what do you believe when it comes to the bitcoin story.
And to start the question earlier, what do you believe when it comes to the blockchain story. Is it here to stay? Is it just a fad that will go away?
If you say "yes, blockchain is here to stay" then probably you can ask your self then "well, is bitcoin here to stay"
But you can't say "is bitcoin here to stay" unless you have first answered it "blockchain here to stay"
If I were in your shoes, I would be looking in up and coming projects that have strong infrastructure, a strong team, and solve real industry problems. The world has been stuffed with fintech and financial service related projects/coins. But what about ALL the other industries? Healthcare, construction, politics, gambling, sports, entertainment etc etc
Start diversifying your portfolio to include a series of industries, and don't get suck with just one coin/altcoin.
If you are looking into gambling projects, you can always check out our project here. (No plug intended)