Seeing the current Bitcoin fluctuations, purportedly a bubble, can you tell us whether Etherium is affected by this and how it will affect Narrative, if at all?
Hi @Jayme Soulati - all cryptocurrencies are subject to pretty large price swings. It's just the nature of the beast. It's not uncommon for a cryptocurrency (whether it is a large on like Bitcoin or a smaller one) to go up or down by 20% or more in one day. You just always need to keep that in mind if you hold crypto. It's a rollercoaster!
That said, if you look at the price charts over the long term, it's been a steady climb.
Personally (and this is NOT investment advice), I do not think Bitcoin (or Ethereum... or most other legit cryptos) or in a bubble. I think these are still very early days and in a few years when we look back on the current prices we will wonder about how cheap things were. Does that mean that Bitcoin is going to just keep going up with no steep declines/pullbacks? Not at all. There will be times when the price goes down quite steeply (and it will be scary). But I for one am very bullish about crypto in general, especially the blue chip brands like Bitcoin and Ethereum (and also lesser known ones like NEO and Monero).
Really, it depends on what you think the future holds. Do you think more people will start investing in crypto over the long term or not? Do you think awareness and usage will increase significantly? Personally, I do. If you are not so sure, then I would not put much money in it (and even if you do think so, only invest what you can afford not to worry about day in and day out).
But most importantly, you have to be able to ignore the huge swings in either direction, or else it will drive you crazy. It's not for everyone, especially if you are seeking predictable returns.
Keep in mind, I'm the guy that predicted Bitcoin would be at $75,000 by 2020 (and I was trying to be conservative!):
Hope this helps!
An example of the rollercoaster. Most coins way up over last 24 hours:
Ethereum up about 20%, Litecoin up 77%. The flip side, of course... on a different day, these could all be red figures.
So, essentially, crypto is like stocks or gold. You buy to invest long term and hold the 'product' (for lack of a better term for now) in your portfolio EtherWallet.
The second way to look at it is for something like Narrative, then. You buy Ethereum to purchase tokens to invest in a new channel/platform or to purchase other things that require/function on crypto.
Am I getting this, Ted? Is that correct at all?
P.S. Thanks for your reply and also, please take another selfie. You look really MEAN!! I know you're not 'cuz you're married to Roho!
Ted, this can be deleted, but I didn't know where to post my reply. Thought it was below yours, then I see this reply box so I copied and repasted...
I'll try not to look so mean.
Not very well understood
I agree with you Ted in the long term out look its a battle I know crypto will win!