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Understanding Crypto Mania With A Financial Expert
Posted
July 5, 2021
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July 5, 2021
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10:10Now PlayingCrypto Mania, Crypto Craze, whatever you wanna call it, the cryptocurrency isn’t leaving anytime soon. Let’s take a look at the crypto market, and see what could be next.
Welcome back to Bold Business with Philip Michael. Be sure to like, comment, and subscribe to Bold TV for all things innovation, and all things Bold.
Joining Philip Michael today is Ryan Adams, Co-Founder of HZQ Consulting to talk all things crypto.
What is currently happening in the current crypto market?
In the past year and a half, or so, cryptocurrency has been purchased because people have financial insecurity, and are investing in crypto because they heard it’s a way to get money quickly. But, the crypto market is very volatile, and we’ve seen fluctuations in the crypto market everywhere because people are wanting to make money.
Is this similar to the penny stock pump and dump scheme?
Definitely. Ryan Adams says that he trusts cryptocurrency like Bitcoin and Etherium. But then you have dozens and dozens of new crypto coins coming out everyday. So for instance, someone creates a coin and gets all of his friends to buy into it, and the price goes up. But then once they push it out there into the crypto market and get more people to buy into it, they sell and the price drops, leaving the original group with a pretty penny. This idea of a pump and dump scheme is going on in the crypto market constantly right now. But, you don’t know you’ve been conned until after the fact.
There’s no secret plan to buy into the crypto craze, and come out with a lot of money. So much of it can be based off of being in the right place in the right time.
If you want to be an investor? Do you want to take part in the stock market and build wealth? Go with long term investing.
Are you part of crypto mania? Do you believe in blockchain technology? Let us know in the comments!
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