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November 14, 2017, 11:35:09 AM |
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I have known about bitcoin since I was 11 years old. Of course, I was way too young to even consider investing (buying and holding fractions of bitcoins). Now I am 15, I am now 4 months from the legal age to receive an ID. For the last 3 months, I have been researching, graphing and doing more research on bitcoin and I have noticed that the price increase follows a pattern since July 16th, where it started its climb and drop-a-little process. From July 16th, 2017 to September 1st, 2017 it rose a total of $3011,78 and then it dropped 57.25% of that total in the space of 13 days. From that day to November 8th it rose to an all-time high of $7458.79 and I believe it has started its next 40% to 60% drop.
Becuase Bitcoin is on its next low, probably the lowest it will be for the foreseeable future. Because this is a good time to be buying Bitcoins I have been talking to my parents about investing 30% of my income in Bitcoin, which in my opinion would be enough for a decent time. They say that all it is a Ponzi scheme aiming to steal millions of dollars from people across the world and ignoring the scam part of their argument, Bitcoin has no future inherit value.
I would like some answers to these and things that I could say which might be able to convince them that nothing is wrong with investing a little money in Bitcoin.
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