Getting rich with Bitcoin: is this still possible?
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If we just use the quotation chart, we can see that the Bitcoin price in 2012 was less than $0.05. A person who invested $1,000 in Bitcoin at that time would have had nearly 20,000 Bitcoins in their possession. Assuming that this investor kept their Bitcoins up to today ($17,000 per Bitcoin), the value of their cryptocurrency portfolio is now worth $340,000,000 ($340 million!).
The funny thing is that some people didn't even notice. There is the story of a man who showed up at "Bitcoin house" without knowing how much Bitcoin cost, and he then discovered that he was sleeping on several million euros without knowing it. Another threw his computer in the garbage, forgetting that he had the private key to his Bitcoin wallet on it; today he is desperately looking for his hard drive in all the dumps to become a millionaire “at last”. There are hundreds of stories about people who became rich thanks to Bitcoin, whether they are true or false they all leave us dreaming!
I personally believe that the answer is NO.
The Bitcoin could go up to $100,000 or $200,000. Maybe... But that won't make you rich.
In my opinion, altcoins now offer much greater upside potential than major cryptocurrencies. But they won't make you rich either.
I think that the only way to get rich on cryptocurrencies is to participate in the ICO (Initial Coin Offering) of a new cryptocurrency, and then that one records a BOOM like the Bitcoin... And even then... ICOs are so expensive these days. Projects (good or bad) that have already managed to raise tens / hundreds of millions of dollars (even before the first quotation), and so are already overvalued when they arrive on the market. Bitcoin didn't have that chance when it was launched, and that's why the price increase was so impressive.
In short, even if you invest in a good ICO, you won’t get rich. You can only increase profit potential by taking even greater risks.
Yes some investors who believed in Bitcoin when it was launched have now become multi-millionaires. Congratulations to them!
The funny thing is that some people didn't even notice. There is the story of a man who showed up at "Bitcoin house" without knowing how much Bitcoin cost, and he then discovered that he was sleeping on several million euros without knowing it. Another threw his computer in the garbage, forgetting that he had the private key to his Bitcoin wallet on it; today he is desperately looking for his hard drive in all the dumps to become a millionaire “at last”. There are hundreds of stories about people who became rich thanks to Bitcoin, whether they are true or false they all leave us dreaming!
The question that interests you: is it still possible to make a fortune by investing in Bitcoin today?
I personally believe that the answer is NO.
The Bitcoin could go up to $100,000 or $200,000. Maybe... But that won't make you rich.
In my opinion, altcoins now offer much greater upside potential than major cryptocurrencies. But they won't make you rich either.
I think that the only way to get rich on cryptocurrencies is to participate in the ICO (Initial Coin Offering) of a new cryptocurrency, and then that one records a BOOM like the Bitcoin... And even then... ICOs are so expensive these days. Projects (good or bad) that have already managed to raise tens / hundreds of millions of dollars (even before the first quotation), and so are already overvalued when they arrive on the market. Bitcoin didn't have that chance when it was launched, and that's why the price increase was so impressive.
In short, even if you invest in a good ICO, you won’t get rich. You can only increase profit potential by taking even greater risks.
