Why $100 in cryptocurrencies won't change your life (sorry)
Look, we hate to be the ones to give you this news, but we need to have a real conversation. If you have $100 and you're thinking this is your ticket to financial freedom through cryptocurrencies, I'm going to stop you right there.
It's not happening. And anyone who tells you otherwise is either lying to you or trying to sell you something.
I know what you're thinking. "But I saw that guy on Twitter who turned $100 into $PEPE into $100,000" Yes, and I also saw someone win the lottery. That doesn't mean you're going to win too.
PEPE
0.00000426
+12.69%
Here’s the brutal math:
Let’s say you put $100 into $BTC right now. For that to change your life, Bitcoin would need to do what... 100x? That would give you $10,000. Cool, but is that really something that changes your life? That's not money to quit your job. That's not money to buy a house. That's like... a decent vacation or paying off some credit card debt.
And for Bitcoin to do 100x from where it is now? We're talking about Bitcoin going to around $6-7 million per coin. Is that impossible? No. Is it going to happen soon? Probably not in our lifetime.
BTC
69,506.51
+0.54%
"But what about altcoins?"
Okay, yes, altcoins can do crazy numbers. Some random coin can go 1000x and your $100 becomes $100,000. That’s life-changing money for most people.
But here's what no one tells you: Finding that ONE coin among literally thousands that will do 1000x is like finding a needle in a haystack blindfolded. And even if you find it, you're probably not going to hold it until the top.
Why? Because that coin will likely drop 50% five times before doing 1000x. And each time it drops, you're going to panic and sell. Or you’re going to sell at 2x thinking you’re smart, and then you’ll see it go up another 500x without you.
$BTC