Yes, history is a perfect science. We now can clearly see where Bitcoin and other crypto currencies are and have been. The frenzy leading to the peak at the end of 2017 at $20 000 left many in a state of awesome wonder. Wondering whether they should buy, sell or hold. Social media drove the hype with all types of stories of how top investors were investing millions into the leading crypto’s creating huge momentum in pushing up the price.
The scheme exposed
Crypto currencies have all realised the inevitable. They have all fallen from the dizzy heights which they were driven through falsehoods and exaggerated expectations. Leaving many speculators (not investors) bruised and disillusioned.
Lessons learned
From my Blog posted on 14 September 2017, I found 3 reasons for not being involved with Bitcoin.
These are now lessons learned.
- If you don’t Understand what Bitcoin is
- If you think Bitcoin will increase as it did in the past
- If you don’t have fund you can afford to lose
Where to from here?
Crypto currencies have paved a way in our financial future. The blockchain technology is an appealing way forward. So the offering is found in the transactional potential not the wallet. Once regulated the crypto will settle.
Be aware! Get rich quick schemes are full of vagaries.