My cryptocurrency call from one year ago: Was I right? – Taha Meli Arvas

Exactly one year ago today, I wrote a column entitled “should you invest in Bitcoins?” I describe what cryptocurrencies are and how quickly they have appreciated. I talked about the pros and cons of cyprtocurrencies and what the obstacles are for mass acceptance and adoption of the currency. Ultimately, however, I recommend against investing in cryptocurrencies as “current risks outweigh the potential reward” I wrote back then. That was 364 days ago. Was I right?

At the time I wrote in the column that the top three “cryptos,” namely Bitcoin, Ethereum, and Ripple were trading at $4,500, $359, and $0.22 respectively. During the year, they each saw highs of $19,500, $1,353, and $3.16, respectively. Currently, they trade at $7,101, $296, and $0.35. This means if you had gone against my recommendation and bought cryptos you would have seen an annual return of 59 percent with Bitcoin and Ripple but you would have lost 17.58 percent with Ethereum. Throughout the year I tweeted about…