Where is the value in bitcoin? I was entertaining the idea to buy 1 back when it was around 3k, but couldn't see a real reason to buy in. Crypto, to me, has always been hype coins with no real value. Prices right now seem solely determined on that hype and who is the biggest name on twitter that mentions it. Obv. The idea of making a 26k profit from a single investment is awesome, but even now I think I made the right choice.
Just like during the 19k rally, I imagine everyday is filled with people fearful of 1 big sell off causing a herd of followers to sell and tank profits, but also people waking up first thing rejoicing to see if it's getting closer to 30k. In short, it seems so emotion based, which may not be true for all, but for most, their investment, and therefore the growth, is based on a weak foundation, regardless of any real value.
One thing is for sure, the growth for the individual isn't realized until it is sold off, so be careful/prudent/etc with your decisions.
I'm not against crypto, but simply confused about how it has value. I did buy in to Bitcoin cash, and sold at a good profit last year, when I was ready to put it into something that seems more valid. I was confident of gaining a profit solely because others were so emotional about it, and I still consider trading certain crypto because it became very easy to read reactions during certain events, but this isnt a real skill in my opinion, so I moved more to looking at value.
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