Crypto Currency. Where is it going?

[philipkntz]

I remember some discussion about Bitcoin around this time last year and my feeling was that anyone with money invested should consider getting out.
How wrong I was.
€1000 invested in Bitcoin 12 months ago would be worth over €7000 today. €1000 invested in Ethereum would be worth over €12000 today. Presuming that I did the maths correctly. I know that past performance is no guarantee of how these funds might grow in the future. But I cant help thinking that I've been backing the wrong horse. With that in mind I've taken half of my punting fund and spread it around a bit.
Fingers crossed. I remember what happened back in 2008 when I thought it would be smart to buy shares in Bank of Ireland.

[MrCreen]

I remember some discussion about Bitcoin around this time last year and my feeling was that anyone with money invested should consider getting out.
How wrong I was.
€1000 invested in Bitcoin 12 months ago would be worth over €7000 today. €1000 invested in Ethereum would be worth over €12000 today. Presuming that I did the maths correctly. I know that past performance is no guarantee of how these funds might grow in the future. But I cant help thinking that I've been backing the wrong horse. With that in mind I've taken half of my punting fund and spread it around a bit.
Fingers crossed. I remember what happened back in 2008 when I thought it would be smart to buy shares in Bank of Ireland.

Sounds like a wise move Philip. I have watched with interest this crypto currency buzz but I cant bring myself to invest. I don't think I could handle the up and down nature of it.

I had considered Ripple around January when it fell to 19c but ultimately I lacked the balls I guess to even put a grand or two into it.

[SteveB]

A young investor once asked a famous older investor what a particular investment was going to do. He gave a famous answer.
It is going to fluctuate.

[philipkntz]

Sounds like a wise move Philip. I have watched with interest this crypto currency buzz but I cant bring myself to invest. I don't think I could handle the up and down nature of it.

I had considered Ripple around January when it fell to 19c but ultimately I lacked the balls I guess to even put a grand or two into it.

That 19c is worth 79c today. I know what you mean about lacking the balls to invest but also there was the issue of not knowing how to get started. I signed up to Revolut yesterday, I don't know if its the cheapest solution to buying crypto, but its easier than keeping your trousers on.

[Brooksey86]

Stocks and shares much safer option with big cap companies. Apple for example a guaranteed return

[TommyH123]

I invested modestly just over two years ago when it was brought to my attention, it’s done quiet well so I’ll ride the wave until it runs out

[Rivien]

Up only. The thing to ask yourself, is whether you're applying that mantra to the long or short game. If you're applying it to the short game, you're going to get fucked (and not in a good way). If you're applying it to the long game, you wont ask that question again.

In March 2020 there was a crash and went from a high of ~$9k to $4.9k. March 2020. Look where it is now. Prior to that there are plenty of similar examples. The cycles are usually between ~2 - 4 years. Everyone indexes on short term gains and shits the bed over "small" price movements.

Lets have this discussion during the next cycle and see where "up only" landed. Just remember to pay your taxes

Bla bla bla Not Financial Advice, just a bullshitters opinion.

[niandra]

Someone said to me when it was 6k last year “the question isn’t can I afford to invest, it’s can I afford not to”
So I didn’t .. and now it’s sitting at 50k..

[WeeJimmy]

It the currency of the future, I see no need for cash soon as Robots will take over the world, they already have, trump nearly done it and Boris is my leader.
Robots dont need food, air and no need for cash.
Even real escorts will be redundant in few years and replaced with sexy big breasted robots and who wont tell porkies about their age as they simply wont age.

[sg471]

Wouldnt touch cryptocurrency myself. Speculative bubbles and nothing more. If you invest in say property you still have the property/an asset. If Bitcoin goes down you have a worthless file on your hard drive.