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Bitcoin Explosion

Atualizado: 23 de fev. de 2022

Showing all the signs of a massive spike, Bitcoin could be poised for a bull market dream by taking off like a rocket going to the moon.

After around twelve years trading on the stock market, the original blockchain digital currency has never been higher. Yes, it has stooped down to approximately US$40,000 for one Bitcoin from US$65,000 at an all-time high. Bitcoin is at its ideal position to buy if you haven’t already done so.

If you had bought low then now must be a time of decision. Is it time to sell and make profits before it crashes, or are you confident that Bitcoin will go higher, and as such want to leave your investment in cryptocurrency to ride the wave of higher earnings? Then if you are new to this mania, should you invest? Certainly, there are many brokerages peddling this latest craze, so many gullible first-time suckers might decide to ride the bandwagon.

Cashing out could and can be a nightmare, as turning crypto back into cash is another story on its own. Would banks easily accept Bitcoin to dollars or whatever currency is legal tender in your country. Then there is the problem of having all your coins stolen. Bitcoin is intangible while speculative investment, and even if you want to spend it can you? In other words, tread carefully!

Usually, if something is too good it usually is, so due diligence is the best way to proceed. If you think you are on to a winner, keep believing, as strong beliefs are what make us feel good. However, if your crypto account shows unbelievable returns think again!

Take care!

Carl Boniface

Vocabulary builder:

Stooped (adj) curved, bent, deformed, hooked, arched, (v) to stoop = bent, couched, or condescended, lower yourself

Suckers (n) = pushovers, mugs, saps, easy target, sitting duck

Bandwagon (n) movement, cause, trend, craze, fashion

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