Every investor always wants to make profits on their investment. However, this is not what happens all the time. Many investors find themselves on the wrong side with their investment. When an investment runs into losses, it is very unfortunate. Many People who are looking to make profitable investments must make sure that they do due diligence in making their investment decisions. Lack of information on the investments that people are seeking has been the main cause of the problems that are being witnessed. When people make investments without being cautious of the things that are happening in the industry, then there is a problem.
Right now, many people have picked on Bitcoin as the area to invest in. Bitcoin has been on rapid growth in recent years. People have made huge returns on their investments overnight, and as a result, many people have been attracted by this currency that can multiply their investment overnight. In the last one year, Bitcoin has gained than any other commodity or stock. It has recorded an increase of over 2000%. Bitcoin is seen in many circles as the next generation of currency. It could be right or wrong; we can only wait and see.
Bitcoin is up an astonishing 1,172% in the last 12 months, hitting a high of more than $11,000.
— Paul Mampilly (@Paul_M_Guru) November 30, 2017
One person who is not excited about the huge increases Bitcoin has been making is Paul Mampilly. In his 25 years of work in the industry, he still believes this is not an investment worth the attention that it has attracted. It is a risky investment that can backfire on the investors. There needs to be extra caution applied when investing in digital currencies. Paul Mampilly is convinced that the prices for Bitcoin can never go up forever. After some time they will come down so aggressively that many people will lose their investments.
According to Paul Mampilly, Bitcoin has all the characteristics of a bubble. People who have invested in the cryptocurrency will suffer from once it explodes. Bitcoin is not the first commodity that has behaved this way. Paul Mampilly witnessed the 1999 technology stocks which did the same thing before they tumbled. Paul says that nothing is supporting the increase in price that is happening with Bitcoin. It is time that Bitcoin investor revisited their investment and withdrew the profits they have made before the prices come down. The bubble might not burst right away, but it is soon approaching. Already we have witnessed the prices fall by almost half in less than a month.
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