BitCoin Crashed and Dropped – Should You Buy? 2017

Bitcoin has been dropping continuously and appears to be grinding underneath its plunge. But word of advice must be taken as it may actually spell a disaster if you invest on it now – YOU WILL LOSE MONEY.

Of course, a lot of cryptocurrency fans will scream bloody murder saying that it’s just temporary, but is it?

 

Cryptocurrency is NOT stable.

The reality is as clear as day. It never is stable. Although the revolution that it provides to the masses by removing the middle man (banks and governments) in currency running, few actually understand that because of that same reason, it will always be exposed to pressure and negative financial speculation. “As all what people thinketh, then So Shall It Be” – inevitably, it will be dropped or crashed. Believe me.

Crypto is good – but it’s not omnipotent. It will be scrutinized and not supported by governments and banks because they can’t monitor it. I mean think about making your own money by “mining” rather than doing a job and getting money from your salary “made” from the your own taxes from the government and money from banks. In the end, the middle man will not like it, and they will put pressure to cryptocurrency adding to its volatility.

Crypto Is Like an MLM Craze

Remember that few years ago, MLMs across the world became a craze because of the Promise of QUICK RICH settlements, until the pyramid scheme was exposed? It’s just like this. Many investors are in a craze, butting and kicking, on how GOOD cryptocurrencies are… then, they invite people to invest on their cryptocurrency vehicles to add “hype and support”, regardless if it is now going down. Just WAKE up guys! investing must not be done on behalf of people or emotions, especially if you want to get rich quick. You must actually invest in better financial vehicles with actual companies who can produce products and perform well in accordance to the demand of time – STOCKS!

Well, just like MLMs, people will still swear crypto is the next BIG HIT and it will never fade nor die – well, not until it CRASHED.

It Crashed 20% in 1-2 day.

So let’s tackle the real deal – BITCOIN JUST CRASHED. Yes, you read that right… it just did. Now, don’t get your jimmies in a bunch because it might just be temporary. After all, I am not bashing crypto or bitcoins, but you have to understand that it can and WILL burn your money if you just buy bitcoins haphazardly.

3 points might be observed on this:

  1. It costs so high just to buy 1 bitcoin – not good for a beginner investor.
  2. With its cost and government pressures, the crash of bitcoin will be quick and constant, adding volatility.
  3. Because of the crash, you might lose your money TOTALLY.

See, when a company becomes bankrupt, they could sell their assets to pay their investors. When you have a stock, mutual, or trust funds, the banks themselves will CARRY the responsibility of pushing the financial performance and consolidate with loses; but with bitcoins – once it goes down, HOPE and PRAY that it goes up itself. But as hollow and transparent bitcoins are, I doubt it may ever do.

Anyways, bitcoins went up due to its capability to silence the banks and hide your assets from the prying eyes of government – especially what you buy to or with. However, the powers of this world will never allow what can destroy the social and financial order of things. Like a bubble ready to burst, eventually bitcoin will hit its wall against the same people who supported it. Truth be told, if it can be supported by the government – like, provide a legislation supporting it as official. Then definitely, it will go up… but the sad part is, it will never be. Unless it is applied with heavy tax or even control.

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"Jay Penn" is a Financial Literacy Mentor and Investor who is best known for his Book "Polymath's Profit". He is also an expert in the field of Maritime, Engineering, and Emergency Medical from his past careers. Experienced with Security Analysis, Crisis Prevention, Contingency Planning, and Global Maritime Distress Safety System. Currently instructs Nautical Sciences and is an avid Researcher of Business and Economics. He is also recognized as the "Top Maritime Instructor" for 3 consecutive years in the Maritime Education from 2014; raising the standard for the Maritime Industry and Training.

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