Not everything that glitters in the world of cryptocurrencies and bitcoin is gold, and for every success story there are 10 losses that have not reached your ears. Without going any further, on January 8 the bitcoin lost 10% of its value in a single day.
Surely you have read many news about the potential of bitcoin and what can be worth. Before launching into adventure, there are three things that do not tell you about bitcoin and what you should know.
The first has to do with the risks you run. A bitcoin is worth 14,000 euros today but tomorrow could be worth 0 and it would not even be the first time in history that something like this happens. The first bubble of this type dates from the 17th century when a single house could be bought with a single tulip. In just one day they spent 90,000 florins for 99 tulips not to sell half a kilo of these plants for 1,250 florins, a loss of 72 times its value in just 24 hours.
In between, thousands of people who lost all their savings. The reason is that the tulips had stopped being plants to become a tool for speculation. The same has happened with the bitcoin, whose technological value or as a currency has remained in the background and today is fertile ground for speculation. At the moment speculating in bitcoins is fine for a trader, but not for a saver. If you want to see your savings grow, there are other ways to achieve high profitability for your money.
The second thing they do not tell you is another bubble around bitcoin: the information bubble and we all know how all the bubbles end up: exploding. Again, it’s not the first time it happens either: do you remember the famous Tibetan Goji berries? They went from being a panacea for your health to being toxic and your trace was lost in the media after accumulating dozens of daily news. The same happened with the Panga, first encumbered as the solution to consume fish and then raised to the category of food demon. Investing guided by advice from people who are not experts is one of the three most repeated mistakes by Spaniards when investing their savings.
Finally, there is a key issue, and that is that bitcoin is not regulated by the National Securities Market Commission. In fact, throughout the history of this cryptocurrency there have been cases of theft and loss of bitcoin in different exchangers or bitcoin exchange houses that have left their users without their coins.