Bitcoin is extremely volatile. If you are willing to take the risk, first make sure you understand what you are investing in and have a crypto investment strategy.
Also, make sure you aren’t investing simply because you have a fear of missing out.
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There are a number of questions you should ask yourself before getting involved:
Do I understand what I am investing in and how bitcoin and the crypto market work?
Am I happy with the level of risk?
How much more expensive is it now compared to a few months ago? If so, why am I wanting to buy a thing because its price is higher? Where else in my life do I do that?
Is there any evidence to suggest prices could rise even higher?
If I buy it now with a view to sell it for even more later, who do I think will buy it from me for that higher price and why?
Have I convinced myself that I am in some way “in the know?”
If you don’t have answers to these questions, it’s probably not a good idea to invest. If you do buy bitcoin, make sure you aren’t putting the money you need on the line.
Thanks for reading!
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Thread: Is bitcoin worth investing in?
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14-08-2022, 11:26 AM #1
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Is bitcoin worth investing in?
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