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In my opinion bitcoin is a bubble waiting to burst. If anybody has bitcoins with a buy price of below $1000 they should consider themselves extremely lucky. Otherwise i personally feel that at the current market price of $16000 it is way too overvalued. It is rallying on nothing but speculation and dreams of quick returns, very similar to dutch tulips and dot.com companies.
Moreover, bitcoin futures are going to start from 17th december which means that it will be possible to short the currency. This will lead to rational price discovery and god knows what the price will be when hedge funds with deep pockets will start betting against it.
However, i do not claim to know the peak so maybe it can rally to even $50k, but new entrants should not get into it now unless you don't mind losing your money. But at the same time if one is adamant, you can maybe allocate a max 2-3% of your portfolio to it to get a taste.
Also, my analysis may be wrong and it may even rally to $1mill. But i personally have lost enough money to know that im going to sit this one out.
Disclaimer: I trade stocks for a living and left my job last year since i started earning more in the markets than what my job paid me.
I don't trade for a living but have gathered a few ideas about investment ( learnt online to put my savings into better avenues), so basically I'm an amateur compared to the above guy and I am of the same opinion as him. The cyrptocurrency craze is purely speculatory, and the extreme amount of volatility in Bitcoin brings it at par with plain old Gambling i'd say. You can risk any amount which you can afford to lose, but dont put in your money in it as investment.
Can anyone provide insights into potential of etherium and litecoin in medium term (3-4 years) ?
Ethereum is a good long term option. As far as what i have studied and analysed, it will give good returns within 6 months to 1 year. LTC is a good short term option, it has increased quiet a lot since last week and has almost doubled in value. It was trading at INR 15.5k for sometime yesterday which is 3 times its last week value. Anothet good option is MIOTA. It is expected to reach 100 USD pretty soon.
Any simple article which explains lucidly the technology behind each of these crypto currencies ?
I have made investment in crypto. Have ethereum, LTC as well as BTC in my portfolio. Returns have been great. I personally dont think it is a bubble. Just a small tip, BTC is at its all time high right now, so it is very difficult to invest such amount. Look out for LTC and MIOTA. I brought a few ltc for Rs. 5000 per ltc a few days back and now it is trading at Rs. 11000 approx. Look out to buy LTC when it reaches 8000 and you will thank me later.
@andy133 : bhai LTC to 13k tak pahunch gaya. Neeche aane ka chance hai kya kuch ?? Ya abhi invest kar dena chahiye
Cryptocurrency is a form of virtual or digital currency that uses cryptography as a form of exchange. Bitcoins are the most popular examples of cryptocurrency. There was a stir regarding this new "currecy" in the market a while back, but I think the craze has fizzled out in the past two years. A major reason for this could be incidences of lapse of security in its transactions. Since, the money is in a digital form, the transactions could easily be hacked or manipulated by hackers. Personally, I feel that stocks and mutual funds are much safer investment options. All you need to do is open a Demat account and start the trading. As compared to cryptocurrencies, stocks gurantee a comparitively safer and higher possibility of returns. It might take a while for you to understand the knacks of the market, but with enough experience, you can easily start with stock as well as commodity trading and earn handsome dividends. If you are initially hesitant to make an investment on your own, then you can even seek the help of a stockbroker to guide you in the right direction.
In my opinion bitcoin is a bubble waiting to burst. If anybody has bitcoins with a buy price of below $1000 they should consider themselves extremely lucky. Otherwise i personally feel that at the current market price of $16000 it is way too overvalued. It is rallying on nothing but speculation and dreams of quick returns, very similar to dutch tulips and dot.com companies.
Moreover, bitcoin futures are going to start from 17th december which means that it will be possible to short the currency. This will lead to rational price discovery and god knows what the price will be when hedge funds with deep pockets will start betting against it.
However, i do not claim to know the peak so maybe it can rally to even $50k, but new entrants should not get into it now unless you don't mind losing your money. But at the same time if one is adamant, you can maybe allocate a max 2-3% of your portfolio to it to get a taste.
Also, my analysis may be wrong and it may even rally to $1mill. But i personally have lost enough money to know that im going to sit this one out.
Disclaimer: I trade stocks for a living and left my job last year since i started earning more in the markets than what my job paid me.
75% drop in price of Bitcoin since this comment last year (sometime after mains). Hahah
In my opinion bitcoin is a bubble waiting to burst. If anybody has bitcoins with a buy price of below $1000 they should consider themselves extremely lucky. Otherwise i personally feel that at the current market price of $16000 it is way too overvalued. It is rallying on nothing but speculation and dreams of quick returns, very similar to dutch tulips and dot.com companies.
Moreover, bitcoin futures are going to start from 17th december which means that it will be possible to short the currency. This will lead to rational price discovery and god knows what the price will be when hedge funds with deep pockets will start betting against it.
However, i do not claim to know the peak so maybe it can rally to even $50k, but new entrants should not get into it now unless you don't mind losing your money. But at the same time if one is adamant, you can maybe allocate a max 2-3% of your portfolio to it to get a taste.
Also, my analysis may be wrong and it may even rally to $1mill. But i personally have lost enough money to know that im going to sit this one out.
Disclaimer: I trade stocks for a living and left my job last year since i started earning more in the markets than what my job paid me.
75% drop in price of Bitcoin since this comment last year (sometime after mains). Hahah
It was a bubble, undoubtedly. But I think nowadays its on oversold territory just like it was in overbought territory last year
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Comments
Any simple article which explains lucidly the technology behind each of these crypto currencies ?
Attached a graph.
Personally, I feel that stocks and mutual funds are much safer investment options. All you need to do is open a Demat account and start the trading. As compared to cryptocurrencies, stocks gurantee a comparitively safer and higher possibility of returns. It might take a while for you to understand the knacks of the market, but with enough experience, you can easily start with stock as well as commodity trading and earn handsome dividends. If you are initially hesitant to make an investment on your own, then you can even seek the help of a stockbroker to guide you in the right direction.
75% drop in price of Bitcoin since this comment last year (sometime after mains). Hahah