Bitcoin & Other Blockchain Assets: Be an informed investor. Don't follow the herd.

With bitcoin’s price approaching 3000 dollars, there is an increasingly unprecedented interest in cryptocurrencies and other blockchain assets. ICO, cold storage wallet, private key & ethereum are some of the most searched terms on the internet. The story of someone who bought a couple of pizzas for 10000 bitcoins in 2010 is now a part of bitcoin folklore. Predictions of bitcoin reaching astronomical prices are made by the hour. As of today, CoinMarketCap lists over 800 cryptocurrencies and blockchain assets. The combined market cap of all of these is nearing 100 billion dollar mark. If the past and the present is any indication the future looks great and no wants to be left out. Long term investors want to make sure they are not left with their mouths open when bitcoin’s price hits a million dollars a piece. While others want to make quick money by buying and selling tokens.

So is it a good time to invest in cryptocurrencies? And can bitcoin’s price actually reach a million dollar? Someone said, if you have to ask these questions, you should not be investing. And I kind of agree with this.

Blockchain technology has stood the test of time. Bitcoin has been here since 2009. Everyone who loves decentralization, privacy and democratization in the Internet, see a potential solution in blockchain technology, and with good reason. But we must be mindful of the fact, that not all of the frenzy that we see right now in the cryptocurrency ecosystem, come from informed sources. And therein lies the problem. A lot of us who are new in this might end up following fads. I will say put in some effort and time to understand the space before diving in to invest. We don't have to learn how to write codes for a blockchain project. But we should be able to understand this space conceptually at least. All I'm saying is be an informed investor. Don't follow the herd.

I am new to the cyptocurrency ecosystem. I have started investing lately - in small and with caution. And I am hoping newcomers like me will find this post helpful.