With everyone so closely watching bitcoin's progress at the moment, I'm a little wary to dive down and get into it. There's many sceptics talking about the market for Bitcoin and Bitcoin Cash crashing, reaching it's 'biggest drop yet' etc etc. I'm not in a position to invest monetarily in the market at the moment, but I am still aware of the benefits of investing in this particular cryptocurrency.
I'd like to hear personal opinions on how the market is going for Bitcoin and Bitcoin Cash, because I can easily read a chart, but for someone who is only delving into this market as of late, I'm unsure whether my opinions are validated when in comparison to those who have experienced it.
In the scheme of things, the first year of its life on the market was very scarce - to be expected for new goods and services on a market that are still being clarified of value and pretense - but if that's negated and the (average 2010 cost) recorded price of Bitcoin was taken into account , it's gone from less than $0.40 and now due to demand and supply the price (taken on average, again) for 2017 is at $14800.
As volatile as this market can be, I still believe it's beneficial to invest in this area. Not only is it one of the fastest form of currency to be created, it's the cheapest and is much more secure than other readily available forms of currency. This to me is beneficial, because security is the key to having full investment behind something.
I don't believe there's a downside to investing in Bitcoin, but I do hear the sceptics words. I guess my question is whether I should be wary when investing in Bitcoin, due to the volatility and life.
I want opinions from those who have delved into this market and possibly have been there for a fair while - I would like to be educated from someone who's experienced the market personally.
Anyway, I don't know if this makes sense, but if anyone can educate me, I would appreciate it. :)
Cheers, Sienna.
