If this question is thrown to a layman, someone who doesn't understand how cryptocurrency works. I think the answer would be capital 'No' due to a lot of reasons. Many assume and dwell more on the fact that cryptocurrency is not a good investment because of the volatile nature it. While many would consider it a waste of funds or resources. Some people even consider or equate it to gambling since they don't know how it works.
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I believe many of us have seen or probably heard about the stories of people making millions while some people also lose millions investing in cryptocurrency. However, here is a question, " is it advisable to invest in cryptocurrency? As I said earlier, many would still say no, but if the story of how investor made millions reaches their ears I think the story will change. Of course, every one of us wants to try out new things particularly when it involves money. What kind of investment can give returns like cryptocurrency? well, it might not be impossible but considering the time frame, I don't think we can have such an investment. I may be wrong though.
The last dip we witnessed last year might have rendered some investments handicapped. Many have lost a fortune during the last bearish market while some also leveraged on that and took the short possible. I think the best approach would be to know how the market works, but can someone predict a 100 per cent outcome of the cryptocurrency market? In my opinion, I will say it would be difficult to predict the 100 per cent outcome of the cryptocurrency market.
I think what is best to do as far as cryptocurrency investment is concerned is for Cryptocurrency investors to buy crypto and hope it goes up in price so they can sell it for a profit. Like this popular cryptocurrency slogan, “Buy low, sell high”.
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Investors might decide to buy or stockpile Bitcoin or any other ALTCOIN with the view of planning for the day when it will grow into a fortune which will make all their digital dreams come true.
The problem with cryptocurrency is that of new projects coming up most of them are turning out to be scammed. I have invested in some shitcoins and nothing good comes out of it. I think we just need to look for a nice project which may not promise heavy investment returns in a short while since many have turned out to be dead on arrival.
About a couple of minutes ago I bought a 1k hive together with the one I was holding before. Right now, I have a total of 5k #hivepower. I know it is relatively small compared to what I intended to buy or what others have at their disposal. Hive is a project and platform that I believe in. The growth of this platform is the work of everybody in this ecosystem.