Investing in cryptocurrency in 2023 depends on your personal goals. If your goal is to preserve wealth, then buying Bitcoin and Ethereum is the way to go. However, if you’re looking for huge gains, you’ll need to consider speculative coins. It’s important to have a long-term investment mindset and not worry about short-term dips in portfolio value. Cryptocurrency shouldn’t be treated like a bank account, but instead as a long-term investment. If you can handle the volatility and have a long-term plan, then investing in cryptocurrency can be a good opportunity.
Should You Invest in Crypto in 2023?
Cryptocurrency has certainly made a splash in the investing world over recent years, but the question remains: should you invest in cryptocurrency at all? And if so, what are your goals and how do you plan to achieve them? Let’s take a closer look and break it down.
Investing to Preserve Wealth
If you have a lot of money and are simply looking to preserve your wealth, investing in Bitcoin and Ethereum may be the way to go. In fact, according to the speaker in the video, just buying these two coins may be enough to achieve a two, three, four, or even five times return on investment.
Making the Big Gains
However, if your goal is to make the big gains, say a 10x, 50x, or even 100x return on investment, then you’ll need to be more speculative and start looking at alternative coins. It’s unlikely that these extraordinary returns will be found in Bitcoin and Ethereum alone.
A Mindset for Investing
Ultimately, it all comes down to your mindset for investing. If you’re able to hold onto your cryptocurrency for the long-term, ignoring price fluctuations, and treating it purely as an investment, then you may be able to achieve your goals. But it’s essential to remember that investing in cryptocurrency comes with risks, and it’s not a bank account. Therefore, you should not invest if you’re looking to make a quick profit or can’t handle the volatility.
So, should you invest in cryptocurrency in 2023? The answer is, it depends. Consider your goals, financial situation, and mindset, and you may find that investing in cryptocurrency could be worth it. Just remember to be informed, realistic, and not overextend yourself. Happy investing!