The Most Overrated Bitcoin Review of 2021

Updated: Dec 4, 2021

This review isn't all it's cracked up to be, just saying. Amid all the Bitcoin hype and confusion, Klusterial has decided to create the most overrated review of 2021; Including hot topics like why you should invest in Bitcoin and why you should run. Overall, this review offers what others don't. It's a clear-cut review of Bitcoin, Bitcoin in a nutshell, and an unbias conclusion that you need to read.

A street pole with a controvesial bitcoin sticker
Image by Claudio Shwarz

If you're thinking about just getting started or you have been investing in Bitcoin for a while. Klusterial contributes an alternative opinion on the Bitcoin hype of 2021.


Why This Bitcoin Review is Overrated

It's been talked about, roasted, and applauded for various reasons. Most sites/blogs discuss economics-related topics and take a solid stance in one direction more than the other. Klusterial changes what it means to share opinions and ideas unbiasedly.


A crowd applauding
Image by Haley Seibel

Of course, Klusterial receives a lot of positive feedback because of that. It ensures that everyone idea gets a chance to be heard. No matter how bizarre or frustrating others' opinions and points of view can be, we like to welcome all points of view. At least consider them, and then we can agree to disagree. All that to say, join Kluserial in this overrated and terrible review of Bitcoin in 2021.


Why You Should Keep Reading This Terrible 2021 Review

You should keep reading if you like terrible, overrated reviews, and are interested in an unbiased opinion on Bitcoin. Or, you are just plain interested in what Klusterial has to say. Next, we will walk through Bitcoin in a nutshell and tell you all you need to know about this trending investment.


A trading view. A image of a stock that is declining in price.
Image by Maxim Hopman

Bitcoin is an risky investment and quite possibly a long-term investment option. Ask those that have been holding for the moon for the past decade.


Bitcoin In a Nutshell, Just Saying.

Launched in 2009, Bitcoin is the largest cryptocurrency on the market. Birthed by pseudonymous Satoshi Nakamoto, the identity of the mysterious creator is still anonymous.


Decentralized, digital, and mysterious are acceptable ways to describe this anomaly. Not only that, but it doesn't require physical coins. A Bitcoin ledger is essentially a balance sheet or a transaction history; this is where blockchain gets involved.


Hand cuff laying on top of Bitcoin's
Image by Executium

Blockchain is a series of blocks. The blocks hold transactions that everyone can see, giving Bitcoin transparent access. In the past year, altcoins have witnessed an increase in growth. It's hard to predict whether Bitcoin will always be at the forefront. For now, cryptocurrency has caught the attention of investors and influencers across the spectrum.


Why You Should Run From Bitcoin

Know your Bitcoin risks and will be willing to look at whether it's a safe investment or not. For starters, the rise of altcoins is growing the competition in high numbers. Essentially Bitcoin is fighting for a position on the market.


In the past, bitcoin has been subject to cyberattacks. For instance, you might keep your cryptocurrency in a wallet. A wallet is still subject to cyberattacks; and still not a completely safe option. Additionally, if you forget the password to your wallet, it's not retrievable. On most digital wallets, you can't reset your password.


A bitcoin laying on a balloon that is ready to pop.
Image by Old Money

One last thing that Klusterial will mention on the subject of, Why You Should Run From Bitcoin, it's volatile. Meaning that since the cryptocurrency's start, it has seen tremendous ups and downs in the market. You shouldn't invest your entire life savings into Bitcoin, experts say. Unless you are willing to lose it all.


That being said, Bitcoin offers some upsides.


Why You Should Invest In Bitcoin

Bitcoin is the largest cryptocurrency and has reached its highest price of $68,521 on November 5, 2021, with a market cap of $1.3 trillion. As the largest; cryptocurrency on the market continues to rise. And small businesses are following the trend. Those come with their benefits. As a small business that accepts bitcoin, you can forget about chargebacks that you get from credit cards, slower transactions, high transactions fees, and inflation.


Two males sitting at a computer discussin their small business
Image by DISRUPTIVO

Bitcoin may have protection against inflation for a reason you should know. It's capped at 21 million, whereas the current currency has no cap. With no cap comes the risk for inflation which, we are seeing the results in these unprecedented times.

The potential to make a profit depends on if you're emotionally stable enough to endure its up and down cycle. It also has future potential as we have already seen more and more investors join the cryptocurrency.


Unbias Conclusion

Overall, if you want to invest in Bitcoin, it depends on your personal preferences, agendas, and ability to overcome volatility. In each category, there are important questions that you should ask when looking at investing in Bitcoin.

A point of view of feet dangling from cliff
Image by Nadine Shaabana

Point of View:

  1. Do you like taking risks? Or, do you usually play it safe?

  2. Is this your first time investing? Or, do you have extensive experience investing?

  3. Do you want short gains? Or, are you more interested in long-term gains?

Asking yourself questions that pertain to your preferences can help you to decide whether you should invest in Bitcoin or not. There isn't an exact answer because everyone's preferences and end goals are different. Additionally, ask yourself, What is my trajectory?


A plan flying in the air going forward
Image by Zhou Xuan

Your Trajectory:

  1. Do you own a business or plan on owning a business in the future?

  2. Are you investing for yourself, or do you have a family?

  3. Do you want extra cash, or do you like the idea of heavy savings for your future?

Your ability to access where you want to be in the next couple of years to decades can help you decide your next steps. For more on why your trajectory matters in investment, I recommend reading the book The Intelligent Investor by Benjamin Graham.


Darts stuck pinned to a dart board
Image by Arthur Moutosyan

Volatility:

  1. Are you impulsive, or do you take your time when making decisions?

  2. When unfortunate or shocking events happen, how do you cope?

  3. Do you trust in the process, or do you take matters into your own hands?

These are not the only questions you should ask yourself when learning to invest and looking into Bitcoin. Many resources and self-evaluation are fundamental to understanding if this is a good investment for you. If you want to take financial responsibility, talk to a financial advisor/broker to get the best solutions.


Investing in cryptocurrencies and Bitcoin is highly risky and this article is not a recommendation by Klusterial to invest. Individuals interested in taking their financial literacy serious need to consult a professional for services before taking action.



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