No absolutely not! Depending on which experts you ask, the value of Bitcoin will rise to between $500,000 and $1M in the next 2-5 years. This also doesn’t take into account the new cryptocurrencies that are out there (1400+ at last count), which are trying to gain market share. Most of those currencies are still worth less than $1 so have massive room to grow generating spectacular profits.
All the doom & gloom that surrounded the price drops in December. On the 10th Jan the price of VIBE (a live music-centric digital currency) rocketed from 43c to $2.42. That’s great and it’s what everyone focuses on, as it’s a 500% increase, a pretty sweet increase. But look at the increase from the 18th Dec – 7th Jan, from 5c to 50c. That was a 1000% increase, and the buy-in cost was ⅛ the price!
Every time someone has said “Well, it’s reached its peak now!”, Crypto prices have surged again. Yes, they are highly volatile, yes they can swing by 30% in one day, and as we have seen recently there have been some major crashes but the only way is up for the next few years.
Even if you buy now and just hold the coins, there is great value to be gained. But if you’re prepared to work at it, there are enormous profits to made over the next 3-5 years. After that, simply having a huge fund of cryptocurrencies in your possession will give you an enormous advantage over the general public.