Cryptocurrency fever is right here, and the costs of digital currencies are reaching staggering heights.
As of this writing, Bitcoin (CRYPTO: BTC) is priced at round $45,000 per token, up greater than 380% since this time final yr. The value of Ethereum (CRYPTO: ETH) has surged round 1,600% over the previous yr, and Dogecoin (CRYPTO: DOGE) has skyrocketed by a whopping 19,000% in the identical time interval.
Crypto may probably be a profitable funding, but it surely’s not proper for everybody. Listed here are just a few indicators you are able to make the leap.
1. You could have a excessive tolerance for danger
Cryptocurrency is a high-risk funding, and it is topic to excessive volatility. Bitcoin, for instance, has misplaced roughly 80% of its worth up to now. In simply the previous week, its worth has dropped by round 20%. Whereas it has managed to get well from previous dips, not all traders can tolerate that degree of volatility.
As well as, cryptocurrency basically is a extremely speculative funding. We’re in uncharted territory with crypto, and no person is aware of whether or not it can quantity to something over the long run or not. Whereas cryptocurrency could possibly be life-changing, it may simply as simply be nugatory sooner or later.