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Is BTC still worth it?

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Nym

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I'm a total newbie to the CC and stock market exchange but I'm looking to get involved, both as a form of quick money making and long-term investment. My biggest interest is in CC like Bitcoin, Ethereum, Litecoin, etc. However, I have one huge question that has long been a personal psychological barrier to my market entry -- is Bitcoin still worth investing in?

At the moment of this posting 1 BTC = $2,700. The price per BTC still fluctuates ~$100 here and there, so I can see the potential for some quick cash if you read the market trends accurately and capitalize on small windows of opportunity when they present themselves. However this requires fair market knowledge which I don't currently have. As far as long-term investment goes... it's already worth $2,700. Is it really going to continue going up? Most stocks aren't even worth that much. It seems ridiculous to me that it would continue rising upwards of $3,000 or more. Basically, I think I've missed the Bitcoin explosion and I should be looking towards other cryptocurrencies like Ethereum, Litecoin, Ripple, NEM, etc.

What do you guys think?
 
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Yes its not a bad idea, id recommend trade with ethereum it has much more potential as i think (There is a big update on Aug 1 which is forking the Bitcoin network). You have to learn about technical analisis and be aware of the daily crypto-news, also recognize chart patterns of each coin over time, i've made good money from eth crashes with margin trading, there are many ways to earn money with cryptocurrencies, but its easy to lose also, of day trading id say its pretty unpredictable most of times so long term could be a better idea if you're starting, i mean buy at a good low price, then sell for higher, and with the earning buy even more cryptocurries for again, a long term investment.
 
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Xenophis said:
Why should you research before investing and not invest blindly for quick profit? If you can't answer that question, you'll be in for a rude awakening.
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No... `:huh: ...I was referring to:

Xenophis said:
Looking to invest into cryptocurrency for quick profit is the one thing that'll make you lose all your money fast.
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mumble said:
haha
haha
ha
haa

no
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I am not saying that I agree with him at all....But, a few years ago before BTC even hit $1,000..Would you have EVER thought it would hit $3,000 within a few years? Probably not...so what's so outrageous in the idea that it would hit $10,000/BTC one day?

People were saying the exact same thing you were back in 2011 when the ideal "To the moon" guys were posting all around the speculation forums stating it will be hitting $1000+...
 
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I work in the finance industry and from what i've heard Bitcoin will not be slowing as it becomes more commonly accepted as a valid currency. We had a client come in who purchased Bitcoins extremely cheap and wants to know whether he should sell it and look to move his money to stocks . He was advised no - as for the specifics, I am not too sure, but let me get back to you.

Basic thing to remember with anything to do with stocks/currencies - Supply & Demand - The more demand for something, the more it will be worth. The more supply, obviously has the opposite affect. The recent spike which seen it at $3,000 came down to Japan accepting it as a legitimate currency (more demand). Other countries are finding it a lot harder to adopt due to lack of legislation and the inability to track it's owners. Which leads you onto matters such as Bitcoins has no transaction fees. How do the big banking institutions get a piece of this pie? Banking is an integral part to any developed countries economy and for a country to lose that would have devastating affects throughout.

But as for your comment relating to using it as a get in-get out method to make some quick cash, I wouldn't be recommending that haha. It's more a mid-long term investment, which even if it doubles to $5,000 in 2-3 years, you've essentially made 100% profit, averaging out to a 33-50% return. I'll happily take that - but be prepared for a bit of volatility along the way!
 
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BTC is your safe bet, it will go down in price but when it does it will come back stronger, you won't get as many quick wins as investing in a more volatile cc so it's a tradeoff really.
 
Theres no way to have a security on BTC exponentially rising.

That's the risk that you take when getting involved in cryptocurrency.

Look at Ethereum. It spiked over 300$ very quickly, but look at it's price now.

Yes I understand Ethereum has such a low percentage of holders in comparison to Bitcoin but they are all volatile and you could lose alot of money in an instant or vice versa.

I held through the fork and the price went up higher than it was before the fork.
 
Relativity said:
Theres no way to have a security on BTC exponentially rising.

That's the risk that you take when getting involved in cryptocurrency.

Look at Ethereum. It spiked over 300$ very quickly, but look at it's price now.

Yes I understand Ethereum has such a low percentage of holders in comparison to Bitcoin but they are all volatile and you could lose alot of money in an instant or vice versa.

I held through the fork and the price went up higher than it was before the fork.
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You're looking at ETH the wrong way, sure it has crashed back to $200, but look how much the coin was in January/Feb 2017? Look at the increase in %..Still up by 1000% so I wouldn't call that a bad investment by any means.
 
If you want to make quick money I would suggest researching and learning the Forex markets.
 
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Azie said:
If you want to make quick money I would suggest researching and learning the Forex markets.
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I had a couple friends who used to be into Forex. They took classes to learn how to read market trends, etc. Are there any free resources you would recommend for beginner information or is all the worthwhile knowledge being charged for?
 
Superman said:
Seems like the price just rose to around $3,300! If you had bought a bitcoin back when you wrote the post, you'd have made $600. That said, I couldn't tell you whether it is still worth it to buy now
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The fluctuation is amazing, I didn't even know it went above 3K. Hurts finding out I couldve invested in it and made atleast $100. But it couldve crashed too so yeah thats why I refuse to invest in btc.
 
with them being $3200 right now buying at $2700 would have been a great idea =p

I think with investing and all the ups and downs of btc its best to use it for the long run
 
Sanjosesharks said:
with them being $3200 right now buying at $2700 would have been a great idea =p

I think with investing and all the ups and downs of btc its best to use it for the long run
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No. In the long run it'll make you lose money, Don't think itll raise any higher than 3.3k.
 
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