Should you invest in cryptocurrency? Is it a viable option to make real money that can make you rich, or at least financially well off? Well, if you had the last 12 months then you’d likely have made insane gains, potentially even making you rich. So here we are, April of 2021. Should you still invest in cryptocurrency? Or is it too late? Is this entire thing about to collapse? Or can you still get rich?
First off. I don’t know about you but I’m pissed off I didn’t invest in crypto last year. I just recently started doing some crypto investing and my goodness!! This entire concept is completely insane to me! I thought 3xing my money in the stock market was outstanding, meanwhile had I just put as much money as I possibly could into to silly Dogecoin 2 months ago I’d be a millionaire now. All of us should be kicking ourselves.
That’s not to say Dogecoin is a quality long term play, but it’s pretty simple, had you invested $1,000 January 1st, 2021 in Dogecoin and sold at it’s high April 16th, 2021 that $1,000 would have turned into just over 157k. And roughly $6,359 would have made you a million dollars…
What in the actual f**k was I doing with my life during this time. Ugh. Throwing money into the stock market and watching it being completely stagnant. That’s what.
Now, I did throw a couple hundred into Dogecoin starting around .14 and was able to double my money in less than a day (although it’s went down since then), but this really means nothing.
Of course, with insane gains comes insane risk. I could totally see somebody throwing their life savings in and getting completely wrecked. After all, serious cryptocurrency investors think Dogecoin is a joke, which makes sense considering that’s how it got started.
So at this point, it’s a high-risk/high-reward play. But is cryptocurrency something you should be investing in anyways? What about Bitcoin and Ethereum? These seem like solid long term plays right? I mean, sure, it’s highly volatile and we could see some crazy market correction where these drop 50% in a month, but overall, it seems to me like the quality coins are here to stay.
Now, I’m not going make this a long article because honestly I have very little knowledge about crypto in general and I don’t want to sit here and pretend I do. But the question is, will this crypto bull market continue? If it does then we all should be throwing our money in ASAP.
I’ll eventually do a much more detailed article on cryptocurrency investing, but it’s definitely worth mentioning at this point considering we all could be millionaires had we taken this seriously. If you’ve already been investing in cryptocurrency, then congratulations! You’ve likely made some insane gains and I applaud you.
What about you? Do you invest in cryptocurrency? Do you think it’s here to stay? Let me know in the comments below!