Unpopular Opinion: 99% of People Who Buy Crypto Will Never Get Rich

Or Put Another Way: The 5 Things Stacked Against You From Making a Real Profit in the Cryptocurrency Markets

Cryptocurrencies are all the rage right now. And for good reason — they offer the potential for huge profits.

But if you’re thinking of buying cryptocurrencies hoping to get rich, you’re in for a tremendous disappointment.

Here’s why:

1. Cryptocurrencies are incredibly volatile

The prices of cryptocurrencies can change by huge percentages in a short time. For example, the price of Bitcoin went from $900 to $20,000 in 2017, and then back down to $6,000 in 2018.

For many crypto investors and traders, this volatility makes it difficult to predict when or how much a cryptocurrency will be worth at any point in time.

There is also the unpredictable influence of events in the mainstream media, where announcements and news can dramatically swing prices up and down in a matter of hours or within minutes.

2. Cryptocurrencies aren’t regulated or insured by the government