It's not just about that but because the coin is just stagnant and also useless to me. I haven't seen that coin increase with more than thirty percent at once. I am a day trader and so I can't even invest there.
The bad side of Bitcoin?
- Thread starter Braga13
- Start date
The same is applicable to me here. I haven't seen it before so I am not ready to invest in the coin too. There are so many cryptocurrency that can increase by 30% within a short time but generally bitcoin is not one of them.
I humbly disagree with your point though, even though it takes a significant amount of money to make money, you could invest the little you have and make some little gains.
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That's the point. I am a day trader and that's why I have no interest in the coin as I am only focused on coins that would generate the highest profits within the shortest period of time.
That is true , but think of it people will not choose to invest in bitcoins for the main sake of earning little when there are other cryptocurrency which gives better opportunity to earn x5 of what you will be earning on Bitcoin.
The bad side of Bitcoin is that it's volatile which is also a characteristics that makes it lucrative. You can lose all your assets in one night through cryptocurrency and for the very lucky and experienced ones, they could become millionaires in just a night.
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Exactly, I was just going to say this, the bad point of BTC is its volatility, although this can be a point in favor depending on who is looking at it because it would not be as profitable in the long term without it, we can also say that a bad point would be its lack of acceptance to this day but I think that with time this will be fixed
The significant volatility of Bitcoin, its lack of inherent worth, the potential for fraud and cybersecurity lapses, and its energy-intensive mining procedure are some of its disadvantages. In fact, the network's intricacy and decentralized structure makes regulation challenging, which makes it more appealing to hackers and scam artists.
It is not easy to be a millionaire by investing in bitcoins currently except you have opportunity to invest thousands of Dollars or maybe to be able to buy up to 0.5 BTC.
Due to its high market cap the price doesn't move as it should.
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That's also something that I have noticed and the more reason why I don't fancy investing in the coin actually. There are other coins that are doing far better than Bitcoin right now.
There is a particular cryptocurrency that if you have invested earlier this year you would have made 50% of your investment by now.
But such is not happening to bitcoins investors anytime soon. This you can see in cryptocurrency with low market cap.
I think you get the point. There are coins when the market becomes very bullish that might let you have double of your investments even in a matter of days but that's not with the Bitcoin cryptocurrency.
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The only thing I noticed about bitcoin its high level of volatility that it possesses and it makes it a little bit difficult to deal with because your money could disappear in the thin air.
The profitability in Bitcoin is quite high and as such it could also make you lose a lot of money if you do not know how to analyse the next move of the Bitcoin . This is why it is regarded as a high-risk investment.
It is very True especially if you inexperienced about how the financial markets operates.
But if youn learn how to manage risks very well, the money would eventually come.
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It could be very dangerous form of investment if you lack the cryptocurrency analysis savvy because that is one of the things that is going to make you reasonable amount of profit because the analyse the market is phenomenal.
The point you raised is valid because it will be advantageous if you could analyse the market so that you will avoid losses as much as possible and that is what you must explore to save your money.
Capital preservation is the important step to making money in these financial markets. You don't have control over the markets, but you can control how much you lose .
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Exactly. It is very difficult for you to see bitcoins Doubling the price of your investment within a short time and sometimes it take a Year for it to happen.
That is exactly the reason why I said that bitcoins is mainly for the whales.
Though, cryptocurrency might have its own bad part but I believe the good it brings still outweigh the bad.
For me, The bad side of Bitcoin is that it can be use for more fraudulent activities and can be a way for corrupt people to loot more money.
For me, The bad side of Bitcoin is that it can be use for more fraudulent activities and can be a way for corrupt people to loot more money.
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