Do not get scare or frighten because seeing the big drop in prices especially with Ethereum. ETH Ethereum coin loss over $44 per coin within 24 hours from close to $280 down to $235 at the moment. Don’t loose hope, this is Crypto for you. On the other hand with Bitcoin, it loss value also but not as much as Ethereum does. Some might see this and say whatever price increased over the last week had crashed within 24 hours, well not really true but it does seems like it. Sooner or later it will go back up again, this is great for day trader.
Now some might see Cryptocurrencies follow the stock market, vi-versa, yes it does seems like it now a day, but many years ago Bitcoin did not follow the stock market trend, stock goes up Bitcoin went down, Bitcoin went up stock market crashed, rarely seeing Stock Market and Bitcoin have the same trend, but it is the case frequently now a day.
One thing to keep in mind is not to invest with the money you need to spend within the next 6 months or a year. Let say you invest Bitcoin because you see whether it’s low or going up continuously but when you jump in the price went down and down and found out you need the money but if you sell then you loose money, so it’s the reason not to invest money you cannot afford to loose. Some people sold their house, cars, whatever … to invest in this volatile Cryptocurrencies taking a bet like going into a casino and make a 50/50 bet hope that you will win, but the chance of loosing is greater, you don’t want to be in that situation. So only invest in money you can afford to loose because the chance of loosing is greater.
Some lucky people, not too many of them off course, became six figure rich based on their $5k to $10k investment, some even became millionaire and maybe also billionaire, but again those are really lucky people, not too many of them, so don’t look at Bitcoin Cryptocurrencies now giving a chance to become rich, it’s not. Cryptocurrencies like Bitcoin Ethereum are super volatile, one thing for sure is it will not died as long as there is one computer still up and running with the blockchain and there are tons of computers that have the blockchain, next to impossible to get rid of them all. It’s the price value of the Bitcoin Ethereum is what could become pennies of thousands. One million Bitcoin price is not likely to happen anytime soon even after all the Bitcoin is depleted just my opinion.