Millennials Choose Bitcoin Over Stocks

Millennials are a vast contrast from the generations before them. From hailing rides, booking vacations and hotels, to ordering food; this new generation embraces the newest technology with vigor. It makes sense that they would have as much faith in cryptocurrency exchanges as traditional financial institutions.

In the last year, the entire cryptocurrency market has dropped 85% with Bitcoin (BTC) losing 83% of its value. Altcoins like Ripple (XRP) and Ethereum (ETH) have suffered the same fate and lost over 90% market value. On the surface these decline statistics show a depressed market, but in truth is a poor and inaccurate way of measuring cryptocurrency market growth.

The proof is in the pudding. While widespread cryptocurrency adoption has not occurred as of yet, the generational shift will see it happen in the future. As investors are exposed to and educated on the benefits of digital currencies and blockchain technology, trust in crypto platforms will be on the rise.

Consider JP Morgan, a traditional financial institution, that has adopted the first US bank-backed cryptocurrency aimed at transforming client-business transactions. As new cryptocurrency products and services are developed, we can expect the number of cryptocurrency users to increase exponentially. For now, all we can do as crypto enthusiasts is remain patient regarding price and keep an eye on the ever expanding crypto industry.

The rapid market growth has led to a myriad of investment options, increasing complexity and difficulty in selecting the best investment opportunity. Both new and experienced investors require a vast amount of knowledge in order to trade effectively and deep-drive research when it comes to longterm investment positions.

Fundamental investment theory and economics drive long term investment decisions while greed and fear drive short term trading.

Before making any investments, you must have clear investment goals. Categorize your investments, look at the long term effects, then allocate your asset portfolio based on your risk tolerance. Alternatively, you may favor a higher risk-high reward scenario. The short-term trade can be very lucrative, but it can also be risky.

Steer clear of the new hyped coin and thoughts of “losing” out on potential profits! Millennials are often characterized as impulsive decision makers with a tendency to take on more risks than they can digest. In reality, most traders crash and burn because of a lack of discipline rather than a lack of knowledge. First and foremost, always set a stop-loss level to avoid financial collapses.

Do your research and turn your crypto investment from a gamble to a calculated risk!

*Opinions are my own and should not be in any way treated as investment advice. Please use your own judgement to decide whether these investments are right for you.

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