I mentioned a little while back that you can still get into cryptocoin/cryptocurrency mining by using MinerGate, and mining alternative coins. The question now is, should you hold off on mining for a while?
Back when I wrote that, Bitcoin and Ethereum, two of the biggest cryptocoins available were at all time highs! People who got in at the ground level, and left their money in saw incredible returns and probably ended up as millionaires! It now looks like that bubble might be bursting.
I'm no expert of course, but looking at these charts from Coinbase, certainly doesn't look good to me!
This is Bitcoin's loss since last month:
This is Ethereum's loss since last month:
Litecoin has gone up a little since last month:
However, Litecoin has dropped since last week:
Again, I'm no expert, but it seems that if you haven't already been on the cryptocoin boom boat, chances are you've missed it. If you are looking to get into cryptocoin investing, you may want to wait until after the market bottoms out first, and buy when it's really cheap.
What do you think about this? Are you a financial expert? Do you agree? Do you think that these numbers are nothing to be concerned about? Let us know in the comments.