When Vivek Pethe has found that the price of bitcoin has increased five times between January and September, he decided to start trading crypto-currencies. Pethe has started buying a small amount of bitcoins. In June 2017, it has invested in close to 11,000 Bitcoins. He began to doubt when he tried to withdraw 5 000 Bitcoins.
In fact, he did not able to carry out the transaction. The screen of the computer issued error messages indicating that there has been a problem during the operation. Once the issue is resolved, he has finally been able to sell it, but the money has not been credited immediately to his bank account. He explained that he has received his money three months after the confirmation of the transaction.
An increase of over 750 % in just one year
The price of bitcoin has dropped 30 % in recent weeks following reports recently published by the chinese government. After the big crash, prices of the crypto-currencies are slowly starting to stabilize. But investors should consider this crash as a buying opportunity ? According to experts, this would be inadvisable.
In fact, investing in bitcoins entails a high risk since this market is very volatile. Many experts are skeptical on choosing the bitcoin as an investment principal.
A risky investment for the uninitiated
Some experts and international bankers have warned that investors choosing to place mainly their money in crypto-currencies, because they are of the opinion that this is nothing other than a bubble that is ready to explode. Jamie Dimon, the CEO of the company JP Morgan has recently expressed his doubts about the value of bitcoins, saying that these assets are very risky.
It was pointed out that the future of crypto-currencies is uncertain, and that in the near future, this market could explode.