NOTE: This page was aimed at people who are attempting to use cryptocurrency as a “get rich quick” scheme, predominantly those who’ve put in a few dollars and expect to be made millionaires as a result of this.
The price of DigiByte can fluctuate, as can any cryptocurrency. In a 30 day span from July 2017, we’ve seen Bitcoin more than double in price, to be worth over USD$4,000!
All too often people ask “What will happen to the price of DigiByte”?
The reality is, anybody telling you they “know” what will happen, is lying.
There’s absolutely zero point in asking other people who have invested in Cryptocurrency when they feel the price will rise or not. Just don’t do it. Don’t waste their time, don’t waste your time. It doesn’t matter if you’ve invested $10, or $10,000 because nobody can promise you a time when the value of any cryptocurrency will be going up or down.
Remember the #1 rule of investing in cryptocurrency:
Never invest more than you can afford to lose.
If you’ve invested in crypto, such as DigiByte, and the value of it has decreased since your investment, keep in mind that you only lose money if you sell lower than you purchased it for. There is absolutely nothing preventing you from keeping your DigiByte in a wallet for another 6, 12, 24 months. It may go down further, it may rise. The point is: You don’t know for sure.
However, presumably you did some due diligence before investing your money and purchasing DigiByte, how does that due diligence stack up now?
Did you do a good job of checking things out prior to purchasing? If not, why not?
Do it now and see how you feel about your investment.
Do you believe there is a long-term value in DigiByte or the cryptocurrency you’ve put money into? If so, fantastic, sit on your hands and keep it in your wallet. If not, cut your losses and move on. However, there’s no need for you to try and convince others to follow suit, just because you’ve not become an overnight millionaire. They’ve no doubt done their own due diligence also and are very well aware of what’s happening price-wise, but are more than likely content to “ride it out” or similar.
So don’t bother trying to convince others that you suddenly know everything and are selling up your coin due to unique enlightenment. Don’t ask when the price is going to go up. DO research on the roadmap of your purchased cryptocurrency, DO look at their track record (How long they’ve been around, any forks done and survived, innovations & accomplishments for the coin, unique points-of-difference etc) and continue doing your due diligence in the future of your cryptocurrency of choice.