Is it the right time to invest in crypto currencies?
Recently few of my friends approached me to consult, "if it was right time to invest in crypto currencies"? Frankly speaking I never gave a thought on what exactly is the right time to invest, neither I am a financial advisor to decide on that. But certainly this kind of triggered a thought in my head. When I decided to invest my money in crypto currencies a few months ago all I was looking for was profit and it started with my first investment towards bitcoins. At that time I was not aware of what crypto currencies really are and how it functions. I soon realized its not just any other way of earning rich profits. It was actually adapting the technology of future monetary transactions.
Are we really in the right time to invest money in crypto currencies? In my opinion I don't think so there is a direct answer to that question. While as we all are aware that crypto currencies are highly volatile and most of the governments around the world are still skeptic of the security of these currencies. On the other hand we are relatively aware that our existing financial system across the globe is collapsing for various reasons. Weather you trust the state or not you would always be a part of conventional economic systems. You would all be a part of taxation system as long as there is a central bank controlling the economic activities. So what exactly is the solution of this system.
I believe to a larger extent crypto currencies address the biggest challenges of our economy which is to decentralize the whole economic activities. I mean who would like not to be in control of their own finances at all time. Our dependence on paper currency is not going to fade out soon but we should start looking to other modes as well. Just yesterday I came across this amazing article which is a clear indicator of how we are managing our finances as whole.
Now as per the article the debt on federal US government grew to $317 billion in one day, that is twice size of the entire crypto market cap. Let's just take a moment for that to sink in. I am still by no means advocating that you should or not invest in crypto. I would still suggest people to do their own research before making any decisions. At the end of day financial matters are really important issues and everyone should handle these with their own understanding and convenience. There are certain things that we like to be controlled in crypto currencies as well which includes price manipulation specially by big traders
While I am writing this post I just got to know that Chinese government is planning to ban bitcoin exchange trading.
Which brings me back to my point that states like to control the economical activities. This seems to be like just another way of pushing the economic liberty down the drain.
https://www.forbes.com/sites/panosmourdoukoutas/2017/09/09/why-china-crushed-bitcoin/
Hope fully things will soon change for good in the crypto world in the best interest of the investors and traders around the world.
Peace