Why Bitcoin is still a Bad Investment
A year ago we did a video where we discussed why Bitcoin is a bad investment from there Bitcoin went up to $90k AUD and then back to $50k AUD where it is now. We predicted the price drop in Bitcoin and further predict it has a lot further to fall.
In this podcast we discuss why Bitcoin does not have a lot of value. We discuss the reasons why it is overvalued and that it has significant downside risk. We look at the current economy and the interest rate rises and why this will cause Bitcoin to drop in the future.
I actually struggle to even call it an investment due to it's nature and the lack of real value it has. We will also discuss why investing in cryptocurrency is a bad idea, this includes other cryptos such as Ethereum and Ripple and what you should do before looking at investment in these areas.
Bitcoin displays many elements of past manias where people jump into an asset because other people have. It is important before investing in Bitcoin that you understand the risks of investing in it and the implications for your future.
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