Contrary to what most people expect, there is a growing demand for cryptocurrencies among investors. Even though the current market sentiment may not show it, there are plenty of ways to become a millionaire with cryptocurrencies. Erik Finman, a well-known Bitcoin millionaire, claims everyone can make money with crypto. Moreover, he is convinced no one should worry too much about bubbles or lower prices as of right now. It’s an interesting train of thought, and one that has a lot of merit.
Erik Finman is Still Bullish on Cryptocurrencies
It is safe to say Erik Finman is a self-made millionaire courtesy of cryptocurrencies. More specifically, he invested around 1,000 euros in Bitcoin at an early age, netting close to 100 BTC. By holding onto this balance, he was eventually able to turn this 1,000 euro investment into a seven-digit portfolio. Even though the Bitcoin price has dropped a bit since, things are still looking pretty solid as of right now. There is a very good chance we will see a new Bitcoin price all-time high later this year.
It is this investment which also allowed Finman to skip out on going to college after making a deal with his parents. No one expected the 12-year-old to successfully turn 1,000 euro into one million before the age of 18, but everyone was pleasantly surprised to learn he did exactly that. It was a bold move and one which few people should attempt to emulate, but it eventually paid off for Finman in multiple ways. Not only did he make a lot of money, he also didn’t have to attend college, which was perhaps the biggest victory.
Looking toward the future, Finman remains bullish on various cryptocurrencies. The current market correction we find ourselves in is pretty good, as it will shake out weak hands, short-term profit hunters, and a lot of speculators. At the same time, it creates a new buying opportunity for those looking to enter the cryptocurrency world for the very first time. Finman is confident that anyone who invests today can become a millionaire, assuming they look at things from a long-term perspective.
Even though there are numerous reports claiming Bitcoin to be a bubble and a fad, Finman isn’t too bothered about such comments. In fact, he thinks it’s only the natural order of things, as a lot of financial experts have attempted to downplay Bitcoin’s potential for many years now. The current market dip gives them another reason to do so, as the evidence is there to interpret in many different ways. However, Bitcoin’s price history has been filled with dips and all-time highs for the past nine years. There’s no reason to think that situation will change anytime soon.
As is the case in financial markets, ups and downs will occur on a regular basis. Bitcoin and other cryptocurrencies are no exception. The markets are currently experiencing a decrease in momentum, even though the past few months have been absolutely off the charts for Bitcoin and most other cryptocurrencies. After all, we saw the Bitcoin price nearly double over the course of three months, which came on the heels of a near-tenfold increase in value during the nine months prior. A healthy correction like this one is absolutely necessary, and Finman doesn’t even consider it to be a bad thing.
Looking towards the future, it is evident there’s a lot of good money to be made with various cryptocurrencies moving forward. Which currencies those will be is anybody’s guess right now. It is evident Bitcoin’s bull run is far from over, but we may see some of the pump-and-dump coins fade into obscurity. Those currencies with solid technology will always remain attractive. Improvements coming to the likes of Ethereum, Monero, and Bitcoin Cash will pave the way for a brighter cryptocurrency future.