Unless you’ve been ignoringfinancial newsover the past several years, you’re well aware of the popularity cryptocurrencies have achieved. They’ve helped many people become “crypto millionaires” almost overnight. But for some people, it became an addiction.
Most crypto coins have extreme volatility swings, complicated technicals and very little regulation. So, while there’s an opportunity and people have become rich, many still hesitate to invest in the crypto market.
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“When I first learned about Bitcoin in 2014 during my MBA studies, I was quite skeptical of its viability and very cautious about its legal status, since there was no regulatory framework at the time,” said Ron Stefanski, a business thought leader and the founder of BusinessGuru.co.
“I remember discussing Bitcoin with my entrepreneurial finance professor and he shared an anecdote about his niece who had invested $1,000 in Bitcoin in 2012 and seen her investment grow to over $50,000 by 2014. While this was an intriguing story of high returns, it also gave me pause, as the dramatic volatility seemed extremely risky. I decided to hold off on investing at that point due to the unfamiliarity and uncertainty in the early crypto market.”
Most people invest their money based on research and understanding of an asset. For example, someone invests in Apple because they believe it’ll continue developing new products that sustain a moderate to high growth trajectory. This research and knowledge give them confidence that their investment will grow.
Crypto has always been an entirely different ballgame. While you can predict price movements based on technical analysis, understanding where a coin goes because of fundamentals is mostly unknown. This is why many small investors and large institutions have hesitated.
“Beyond the typical concerns of volatility and regulatory uncertainty, my reservations about crypto were tied to a lesser-known fear — the fear of the unknown,” says Artem Minaev, senior investment advisor and co-founder at CryptoDose. “The vastness and complexity of the crypto landscape felt overwhelming, especially as I…
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