Ordinary Americans go in debt because of bitcoin

Ordinary Americans go in debt because of bitcoin

On bitcoin I hope to benefit not only for experienced investors. Tempting profits from the digital currency in normal boys and girls.

It is undeniable that the world took bitcoin fever. In 2017, the currency rose more than 1000%, but the largest jump occurred in the last few weeks, and the price of bitcoin is estimated five digits.

But increases not only the price. Interest in traditional financial institutions is also growing. Bitcoin futures — is a fact: December 10, CBOE stock exchange has launched contracts. Her example will soon be followed by the CME and Nasdaq. CME to start trading is scheduled for December 18.

Most likely, the extraordinary activity of trade was to increase the price on currency, and on Sunday she exceeded 17 thousand dollars. Such huge numbers of bitcoins earned many followers and some have even mired in debt during the market race.

Home is where the bitcoin

Joseph Borg, President of the North American Association of securities administrators and the Director of the Alabama Commission on issues of securities, said in an interview with the following:

“We know that people take out loans for mortgages to buy bitcoins. Actively used credit cards, loans secured”.

Borg continued:

“The man who earns $ 100,000 a year and drawing a mortgage and two children-students should not invest in such initiatives”.

The total interest increases

Critics of the cryptocurrency called bitcoin a “Scam” and “innovation”, but ordinary citizens see the potential of digital currency and are willing to take high risks to yourself and to grab a tasty morsel.

The price of bitcoin continues to grow, and the owners of the currency note the clear profitability of bitcoins purchased at a lower price a few years ago. Apparently, it is hoped the majority of inexperienced novice investors.

Many experts predict a further increase in prices: in the near future bitcoin may reach $ 50 thousand or even 100 thousand dollars.

However, Borg warns that sooner or later there will be a deviation of the price from the main market areas, but the cryptocurrency will stand:

“Now is a period of manic growth. At some point price will start to level off. Cryptocurrency will survive. The blockchain will survive. I don’t know whether it is bitcoin”.

Money first, profit later?

As with any investment, you should carefully consider the investment of their own funds. Some wealthy people do not want to invest in cryptocurrency because of the instability and unpredictability of the market.

However, if the price will continue to rise to the predicted astronomical figure, investing in bitcoin, at least for the average person, will become much more expensive.

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