Stay away from Bitcoin

Bitcoin is gaining interest in the eye of people as people is taking as a safe investment and also as the investment that gives highest return in compare to any other investment.

Bitcoin price was 763 dollar on December 7, 2016, while it was 1938 dollar on July 16, 2017, which means it was rise more than 250% in just 6 month. But it did not stop it goes up and up and on  November 12, 2017 its price was 5857 dollars. And now on December 6, 2017 its price is 13708 dollars.

 

Do you think any other investment in the past has given such returns?

Do you feel than Bitcoin is the only crypto currency in the world?

Do you feel that Bitcoin will touch 100,000 dollar very soon?

Well, most of the people of world are now speculating that Bitcoin can soon touch 1,00,000 dollars very soon.  But in my opinion that Bitcoin can crash any time without giving any chance to exit to their investors.

So, here are the reasons to support my opinion:-

  1. Bitcoin is rising up without any reason,

I know people are taking this as future currency but in reality it have no existence. Means we can’t touch it, we can’t feel it neither we have any certificate or authority saying that we have a particular amount of Bitcoin. All of the world is investing in it but still no country has declared it’s their officially accepted currency, beside the fact that in many countries it’s legal to use Bitcoins.

All we have is our wallet, where we secure our Bitcoins.

  1. Bitcoin is not linked to any market pr investment plan

Bitcoin is not linked to any share market or any other type of investment plan. It doesn’t have any fund manager. So there is not any authority on it. Its giving performance on the basis of its demand and once demand is fulfilled and people starts getting bored of it (may be they get attracted to any other currencies or people stop investing in it.) so, its reached a unsecured position now.

  1. Everything has a limit

Bitcoin going straight upward position from last one month so how long you can think it can go. And there is rule of nature that everything that goes up also comes down. Many investments in past has shown somewhat similar trends and thereafter they falls down. Even if you read history, salt was also a very costly thing even it was used as currency. Even the term salary and salad was originated from salt due to its higher cost. But today it’s the cheapest price item in grocery. So, don’t copy other and use your own mind in buying Bitcoin.

Well,  that’s my own point of view, and if you still ask that will it touch 1,00,000 dollar than I will say that it can but as it rise straight upward and many don’t find chance to enter , so it can go anytime straight downward without giving you any chance of exit.

Rest, choice is yours, all the best investors.

Views expressed by

Rabel Ruchi

2 thoughts on “Stay away from Bitcoin”

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