How Volatile is Crypto Currency – Is This A Safe Way To Invest?8 Minute Reading Time

How Volatile is Crypto Currency – Is This A Safe Way To Invest?   So, Guys,  I have to admit I have had a funny old week.  Had some trouble with my eBay, to begin with, and this meant I was late posting some orders.  Not an ideal situation but let me tell you what happened.

After I got those bits posted around 11:30 am I headed off to my local to watch the early game between Leeds FC and Tottenham.  Not the result I was hoping for but anyway… had a few beers watching the game and that was my work for the weekend done. Alcohol really screws me up here actually one of the worst things for me.

But one thing I will do when I’m having a drink and am not able to write to my usual abilities one thing I will do is have a bit of a brainstorm for different ideas. This brainstorming session in particular led me to write this post about eBay.

Prior to this, I had only written about affiliate marketing and blogging tips. I guess this idea to add new categories was a mixed one but anyhow so with this in mind I have added 2 new categories eCommerce and Making Money with Crypto.

This will be my first post about Crypto (this is updated as of April 2023) but originally this post was inspired by the news about Dogecoin after Elon Musks Appearance on SNL. (May 2021)

It got me thinking…

So one man I have been following in the crypto space for a while is Jeff Berwick ‘The Dollar Vigilante’. 

I am probably not doing my google rankings any favors by mentioning this man.  If you know you know. Personally, I think he is great but how do I put it – Jeff isn’t exactly the sort of person that the mainstream media and ruling classes want you to know about. 

He talks about some pretty controversial stuff but he also seems to be bang on the money, especially in regard to Crypto. 

He recommended Bitcoin under $10, Ethereum under $10, and plenty of other coins since these main two.

So, I was inspired by his video where he was speaking about Dogecoin after Elon Musk’s SNL appearance.

He pointed out how DogeCoin in only one year grew by as much as 20K%. 

From being worth 2/10 of $0.01 to +$0.40.  So, if you spent $1 or $2 then you would have made a nice chunk of change now. 

If only I knew I had known then? 

But this did get me thinking, on this same day, I searched for DogeCoin on Google, and actually, some very recent news was brought to my attention. 

‘DogeCoin drops in value by 33% after Elon Musk SNL TV interview’. 

Actually, I watched Jeff’s video before this again, and I couldn’t believe it. 

He said this would happen after reading one of Elon Musk’s’ tweets.  

His exact words were something like “Hopefully DogeCoin crashes because then I will really be laughing”, and low and behold!

So, DogeCoin or dodgy coin.  Yes very volatile indeed.  One TV interview by Elon Musk and see what happens.

The question is will it climb back up to where it was before?  Will it go up even more?  Or totally fizzle away to nothing?? 

At the time of writing this 1 Doge is around $1.25.  Maybe I will kick myself later for not investing but just a TV appearance, even a tweet can totally change the course of a CryptoCurrencies value.

Update:  March 2023 – it is a good job I didn’t it currently sits at $0.075USD and since Elon Musk’s appearance on SNL it has never recovered ?

So, definitely volatile, and Elon Musk is definitely the puppetmaster.  BitCoin hit 50K a couple of months back.  Mostly, because Musks company invested 1.5 Billion in the figurehead CryptoCurrency.    Since then he announced his Tesla cars would accept BTC and has just recently said he now won’t.

Both see a rise and dip in the value of BTC

I honestly, don’t trust this bloke as far as I can throw him but you see a trend right? 

So Is Cryptocurrency a Safe Way To Invest?

I would say it depends on several factors. Firstly what do you decide to invest in? Jeff Berwick’s top picks are;

• Monero (XMR)
• Piratechain (ARR)
• DERO (DERO)
• Equilibria (XEQ)

I still watch Jeff’s videos every week since 2021 the crypto markets have all been down. Monero was $475 a coin when I first published this post it’s now around $150 so I can understand people who might have lost their patience with Jeff’s predictions but he still claims that these coins will all come good. I’ve got my nest egg put away but I still do wonder if I will make good money back.

I know Jeff’s last good bit of advice that really profited people was Piratechain which went up to $16 and he recommended it at $0.0005. DERO I can’t remember what he recommended at but the all-time high in July 2021 was $25.00.

So these are not shit coins according to Jeff and if these coins ever reach their all-time high again they will all just go to show.

What If You Don’t Want To Buy Crypto 

I personally believe that Crypto could be a good investment for the future. Just look at Bitcoin and Ethereum and even Dogecoin to an extent for those that sold at the right time. But seriously for anyone reading this that doesn’t trust Crypto to be their Golden Goose I personally instead recommend 2 other different ideas;

1.) Affiliate Marketing and Blogging – It is a funny one with the rise of A.I and ChatGPT but it is something I still think can be a very good investment if you play the game right. If you would like my help with setting up a blog please sign up here.

I am currently working on several cool bonuses to add to my current welcome pack for new subscribers including my free ebook and my 30-day email series. Use my link to sign up above or if you have any questions contact me at chivs86@ibusinesstoday.com

2.) My 2nd Tip – I would regard this more as a side hustle but one way I have been making money online – ever since 2011 has been with eBay and Amazon (eCommerce). If this is something that might be of interest to you instead check out my blog post here

3.) OK this is just a little side hustle but Appen.Connect is a good platform to earn a bit extra cash every month.

In Conclusion

How Volatile is Crypto Currency – Is This A Safe Way To Invest?  As mentioned above Crypto Investment is a double-edged sword.  The good thing about it is it can make you a lot of money but contrary to that it can also lose you a lot of money.  It actually works in a way that your gain is someone else’s loss and vice versa. 

However, if you look into investing in the right coins at the right time you have an excellent opportunity.  To see your small investments Sky Rocket!   The DogeCoin is a great example of this.  Again as mentioned above if you bought 5 coins in April 2020 that would be $20,000 you would have in April 2021.

That is a huge profit but then if you bought 20,000 DogeCoin in April 2021 you would have lost $6,000 in its value a month later.  This as of April 2023 still has never recovered so Crypto can be very risky as an investment definitely.

I would probably recommend listening to the Dollar Vigilante.  You might not like everything he says but his advice on Crypto – he seems to really know his stuff.  Check out his website here