$60,000 to $16,000 - A long journey of Bitcoin

 $60,000  to $16,000 - A long journey of Bitcoin

Bitcoin, A fancy world commodity started the journey from $3700 in the first trade on a common platform.

 Reached its golden peak of $68000 with thousands of overnight Millionaires across the world. Became a new normal to own crypto in every household, where a common man aspires to become the next millionaire.

Unfortunately, it pulled in all the innocent people in a fancy commodity when it was at its golden peak of $60 K levels.

Today Bitcoin comes all the way down to $16,000 - which is -76% in absolute level.

By the time we understand that Bitcoin is never an ever-growing asset class. Many other cryptocurrencies went bankrupt with a 100% loss for many investors.

Do your investments carefully in ultra-risky asset classes.

*In my experience, I have seen investors take extreme investment decisions;*

1. They either completely stay in Fixed deposit to avoid the risk

2. Or, they completely push to ultra risk to make overnight big sum.

In, my opinion. Both the above are risky for a common investor. Take a balanced approach to make a consistent return from your overall portfolio. You can create wealth.

We are not discounting Crypto as a new-age currency. There is going to be a time when we commonly use crypto in place of currencies. But this is too early to pick something without knowing its use case. Wait till the time it gets regulated by respective governments.

Hassan Ali

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