The popularity of Bitcoin is getting higher and higher, and doubts about Bitcoin trading and investment are growing. Bitcoin market trends have also raised suspicions. Obviously, the price of Bitcoin fluctuates greatly and may rise or fall when people are most unexpected.
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The risk of such volatility has hit the income of South African female billionaire Magda Wierzycka, who regrets her own bitcoin after losing a lot of hard-earned money. investment.
The emergence of Bitcoin in 2009 did not really shock the world or global financial markets, because no one can really foresee the vibration and destruction caused by it in the financial sector. Since then, the market value of Bitcoin has experienced tremendous growth.
However, bitcoin price fluctuations are very common and have been preventing potential investors from considering investing in bitcoin. Despite the volatility, Bitcoin has clearly embarked on the road to the top for many years, and it seems to have proven to be a means of value storage.
Some people think that the emergence of bitcoin is beneficial, while others believe that long-term trading or investing in bitcoin is a waste of time and resources. However, despite the many criticisms surrounding its use cases, cryptocurrency has proved its value to some extent.
South African female billionaire regrets investing in bitcoin
“Pros and cons” has become part of the cryptocurrency ecosystem. When the profit comes, you will be happy, otherwise you must learn how to manage the investment. South Africa’s wealthiest women confessed after losing a lot of money in bitcoin investment.
Magda Wierzycka, chief executive and co-founder of financial services company Sygnia Asset Management, admitted that she wasted a lot of money to buy bitcoin.
Wierzycka called the cryptocurrency "the biggest flaw in her investment in the closet." She said that her first bitcoin was purchased at around $4,000 and the last attempt was at around $18,000.
She said that the labeling of bitcoin on digital gold was a deception, and she said that she was also deceived by this . She added that her husband had married her many times because she invested in this new breed of commodities.
The female billionaire investor is likely to have bought Bitcoin during the historic bull market in December 2017, when Bitcoin reached an all-time high of $20,000. After that, the price of cryptocurrency plummeted to a minimum of $3,100.
During the parabolic rise in 2017, FOMO (worried about missing opportunities) put some reluctant investors into a dilemma. They hope that prices will continue to rise, but they don't know that there will be a catastrophic crash after the bull market.
Wierzycka admits she lacks trust in cryptocurrencies, especially bitcoin. she says:
"I don't care. I lost a lot of money. I no longer believe (bitcoin)."
However, to be honest, Bitcoin is sometimes beneficial and sometimes unprofitable in terms of return on investment, but it depends on which side turns to investors and traders.
The price increase in December 2017 and the subsequent decline brought good luck to some people and misfortune to others. Therefore, in terms of cryptocurrency investment, the case of billionaire Wierzycka is only one side of Bitcoin.