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Cryptocurrency is Not a Lottery Ticket

Cryptocurrency is Not a Lottery Ticket

Cryptocurrency is Not a Lottery Ticket

Whenever the subject of cryptocurrency is brought up, people start the conversation with the words that it is a bubble. However if you take a closer look into any industry you come to realization that everything is a bubble. For example: Housing market is a bubble. Most of the real estate is overvalued. Stock market is some sort of the bubble. Most of the companies don’t make enough revenue just to have their stock prices justified, especially if you look at the tech sector. Most of those companies operate at a loss. I can give you lots of examples. And cryptocurrency is just one of those bubbles. It also has pros and cons. Firstly, one of the benefits of it is the technology. It is the new form of money. There are lots of cryptoprojects. Huge competition to be better, faster and more secure. And as for the cons, surprisingly it has nothing to do with cryptocurrency itself. And it is human psychology. More specifically, greed. The greed in the original meaning. Greedy people are the ones who inflate this bubble. Obviously, there is nothing wrong about striving towards higher returns on the investment. But if you don’t do any research prior to investing, there is nothing good to be expected. So people in the securities market also have this trait. This is what I call lottery player symptom. No research, just hope. I know that people have bills to pay, fancier stuff to buy, but at the end, these kind of people will have their dream broken. My only advice is to leave emotions behind and do the research before putting your hard earned money into anything.

This content is accurate and true to the best of the author’s knowledge and is not meant to substitute for formal and individualized advice from a qualified professional.

© 2022 Iliyas Suingara

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