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Will cryptocurrencies still be a good investment this year.

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Avatar for Klismannm12
Written by   32
1 week ago

They year 2020 started like every other years that came before it till all of a sudden coronavirus came in and we were all locked all like animals,this sickness killed so many people in europe and parts of asia,mainly china, then later the government of the world declared lockdown and most countries if not all countries obeyed, each putting in her own strict orders but later when the wave was getting lower the lockdown started to be lifted and life started getting back to normal.but during the lockdown so many things happened,as a result of the lack of movement which crippled so many companies and livelihood people were forced to start looking into alternative source of income and the same time to diversify and invest as to stay afloat and this lead to the rise in cryptocurrencies as it was the best place to run to as at that time and as a result of the massive investment people were making it was forced to skyrocket, bitcoin particularly rose from 8thousand dollars or so to nearly 20thoudand dollars.

Then came ethereum slightly,it started raining here and there,people on their own formed and started doing ethereum blockchain and before one could know it it has also skyrocketed and continued alongside bitcoin with other altcoins Then finally bitcoin soared towards the end of 2020 crossing the boundaries, shattering all records straight to 40thousand dollars,even podcasters predicted that it would rise but never imagined that it would rise to such outrageous amount.

Now fast forward to the new year, everybody started investing massively thinking bitcoin would even soar to 100thousand dollars,and as a result people started investing,bitcoin cash started to also rise vigorously. On Saturday it rose to about 40percent which made me convince my friends to leave bitcoin and invest in bitcoin cash with hope it would continue to soar and that Bitcoin would crash since I thought it had reached it's elastic limit,now I invested heavily in bitcoin cash but just on Sunday and Monday everything came crashing,that day was a black day to the crypto world, gentlemen and gentlemen in skirts I lost nearly one third of my investment so did my friends also in bitcoin cash and bitcoin too,I started to ask my self if bitcoin influences other cryptocurrencies,this still remains a question to be answered,so fam as you go about your day investing let's do that with caution to avoid getting our entire fingers burnt.

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Avatar for Klismannm12
Written by   32
1 week ago
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