Do you think Bitcoin and cryptocurrency will explode again?
Bitcoin was the first digital currency to beget a whole universe of cryptocurrency since its introduction in 2010. It has been through an underground community of investors for quite some time that seemed very involved in their future as a possible replacement to the conventional monetary system, while mainstream financial players quietly watched its growth.
Although we’re potentially still many years away from a full change, the crypto room has been a fairly unpredictable sandbox. Most individuals introduced ICOs (Individual Coin Offerings, analogous to offering a new stock) without oversight or control during the ascension and acceptance of the crypto. During this time, Bitcoin led the charge to an average of about $20,000 a coin in 2017, but then its value dropped slowly over the course of 2018 and stabilized for quite some time within the range of $3,500 to $4,000.
Upon seeing the meteoric rise and eventual fall in the value of Bitcoin, several citizens were gun-shy about investing in cryptocurrencies. Recent activity, though, at the time of this writing has led the value of Bitcoin to rise significantly, and has caught the attention of many current and prospective investors.
The blockchain industry has evolved over the past couple of years with more regulation and legislative measures put in place by both companies and government agencies. As a result of these steps and more investment funds that support the industry, more investors are now looking for ways to reduce their risk while still capturing a lucrative ROI.
In today’s “instant gratification,” microwave-results culture, several people look— again— to timing the crypto market and win big, almost with a type of mentality of “win-the-lottery.”
ParulGujral, however, suggests that this is a blueprint for possible catastrophe. Throughout my video interview with Snowball’s CEO, Gujral acknowledges that if you positioned the market right, you can still win big, but as many people experienced throughout 2018, you can also lose big just as quickly.
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