Bitcoin shares have outperformed all shares in 2023 was on a lift advert while going to the gym in my flat complex. I could not believe my eyes, especially as Bitcoin toppled from 67k in November 2021.
Well, any savvy investor knows the crypto market basically collapsed in 2022 and dropped to as low as 15k. Firms like Terra Stablecoin (see below in article) cost investors billions and billions of dollars. Pitiful investment, clearly! And the worst of it is those financial advisers holding cryptocurrency want to earn money, so of course they are going to promote it.
Friends and family who hold the digital currency might also speak highly of it to avoid embarrassment even if it is a negative investment. Even if they are honest, they might keep quiet and not admit they’ve lost money. Who likes to admit they have screwed up?
The drop so low was brief and then it started climbing slowly reaching 31.5k in July 2023. Last week it dropped to around 26k. Today it started out at 27.6k. The point is it’s a volatile market and high risk because every trade is pure speculation.
Experts say it’s dynamite and is highly recommended so they quote financial advisors who like Cathie Wood, CEO of Ark Invest, recently predicted that Bitcoin would reach an astounding $1.48 million by 2030. Senior Analyst Nicholas Sciberras from Collective Shift points out that this prediction reflects Bitcoin’s meteoric rise.
It seems to me that these people are so much into Bitcoin that they invent as they go along; lying through their teeth with absurd predictions to soften the downsizing since Bitcoin’s high in November 2021. Imagine today at around USD $27,600 and previously at approximately USD $67,000. The loss is substantial, so how a skilled professional can quote an unrealistic number is beyond me. Others have their interesting opinion.
Additionally, the banks are implementing blockchain technology and if not already, will offer digital transactions in the foreseeable future which could make cryptocurrency a complete waste of time. However, if you wish to invest in top performing trades then this report might be of interest. Remember you can't believe everything you read.
As a bonus, read all about Terra's Do Kwon, the South Korean 'cryptocrash king' going to jail.
Have a terrific day!
Prof. Carl Boniface
Vocabulary builder:
Lift (n) = is the English version for elevator in America
Toppled (v) = collapsed, fell, fallen, tumbled, upset, fall over, tip over
Savvy (n) = shrewd, knowledgeable, understanding, know-how