Simply Money

 Last few weeks I have been flooded with calls of friends, collegues and clients alike. All of them have just one question on their minds. Should I invest in Cryptocurrency? Should I book my losses/profits? Will Bitcoin further rise? To answer this decisively, lets understand the environment we are in. Every social media influencer I know, from Tanmay Bhat to the miss teeny weeny,all of them have either been sponsored by a crypto market service provider or are just willingly entering this fad to discuss Cryptocurrency. They go out of their way to explain how this works? For educational purposes we do learn about block chain and cryptocurrency out of this free content. However they fail to answer the question , WHY IS THE VALUE RISING? WHAT HAS CHANGED THAT LEADS FOR THE WORTH OF SOMETHING TO JUMP FROM $ 7000 USD TO $ 50,000 USD IN UNDER A YEAR? The answer can be found from the countless times, we, the retail investors have been cheated out of our hard earned money. There are tips i...

Before we delve into answering this question, let me start with an anecdote. There was a farmer who once started digging his farm, after digging just 10 mtrs in his farm he found oil. Every scientist and geologist who read this said "This is impossible, oil cannot be found at such shallow depths". But there it was, dark gold poring in slowly after the first hole was dug by the farmer. The farmer then floated a company, people valued his company at a billion dollars as the company now owned 100 acres of shallow oil pits. The farmer set up a team and they set up operations, once commercial operations started it was found they had only found a underground oil reserve of US army from World War II. As predicted, there was no oil reserve and there was no dark gold to be made in this ordinary farm. Have you heard of the Gamestop and Amc fiasco? A group of reddit users drove the price of Gamestop, a company soon to be out of business, from USD $39.91 to a high of USD $ 347.51 within ...