I made a new year’s resolution to invest, my small savings over the years, in cryptocurrency. In the past I made plans to start a blog, but never did. Then I came to know about steemit, loved the platform and got the opportunity to blog and invest in cryptocurrency at the same time. However, coming to the main point, I am seriously worried.
WHY WORRIED??
First, my heart and wife always say that crypto-world is a bubble (I can’t argue with any, too dangerous).
Secondly, I read an article today in The Economist Magazine.
Source: The Economist
The magazine is a credible source. The people opining their concerns in the article are economists. Maybe, adversaries to the crypto-world, but I am becoming susceptible to their opinions.
The major concerning points in the article are:
• Bitcoin is not the only crypto-currency that has fallen;
• Market capitalization of all crypto-currencies fell by half, i.e. to $400 billion;
• Something regarding Tether (lack lucid understanding of it);
• Numerous countries either banning crypto-trade or starting to crack-crypto-down;
• Banks, obviously, playing the negative role in one way or the other
But my main question is what if this is actually a bubble? If Bitcoin is down, so will Steem, and so will this platform. I am investing a lot of time to understand this platform and how can I contribute value to it. I will also invest in Steem, but only when I fully understand the system. This whole steemit thing can become a viable career for me. And, I don’t worry losing the small saving I have, but what if the whole thing is a bubble (including steemit). Will our efforts and money disappear like fart in the wind?
I am new to all this, help me understand this.