Rise in Cryptocurrency Value – Don’t get trapped.

This blog is for those investors who want to make big and quick money having little to no understanding about cryptocurrency underlying technology. In recent years, many investors globally invested in digital assets termed as Cryptocurrencies such as Bitcoin, Ethereum and others with handsome returns. Cryptocurrency value volatility attracted many traders, short term investors in the ecosystem.

The value of leading cryptocurrency such as Bitcoin at one point of time achieved $61K per bitcoin without having any underlying value backed by any assets. Multiple crypto exchanges popped up overnight to attract investors.

Cryptocurrencies also experienced cliff fall with erosion of more than two third of their value. It forced many exchanges to bankruptcy or exposed those exchanges who used to use investors’ money for their own benefits.

That brought forward a serious question of investor money protection and it led regulators to ban crypto trade in their countries.

It’s been observed that cryptocurrencies increased 50% in the last 4 months without any fundamentals. Even more surprising is that it is increasing when leading banks like Silicon Valley Bank of US, Credit Suisse of Switzerland collapsed, and everyone is trying to avoid a repeat of another financial crisis.

In my opinion, any investor must ask themselves about the assets they will hold while investing in crypto? Don’t get trapped by marketing guys of crypto exchanges giving you the potential upside. 

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