TURNING BACK THE CRYPTO CLOCK AND ANSWERING THE ‘WHAT IFS’ As an investor, it’s all too easy to let the ‘what ifs’ run riot in your head. What if you had invested in Amazon in 1997? What if you had backed a new real estate development opportunity? What if you had invested in Bitcoin ahead of its rapid price acceleration in 2013?
Written by Charlotte Wickens
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hile indulging in these alternative realities is all well and good, the truth is that a myriad of different factors could have impacted any investment you made. Hindsight is a wonderful thing, but only when you have it. Never has the surprising nature of investments been more clearly demonstrated than with cryptocurrency. Since its foundation in 2009, Bitcoin has gone from strength to strength, rewarding those who believed in the technology from the start and surprising those who were less sure. Widely considered the original cryptocurrency, in the past twelve years, Bitcoin has gone from having no monetary value to surging to a record high of more than $63,000. For those who invested early and hung on, the returns have been remarkable. But naturally, for many, the temptation to
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sell has proved all too great throughout the years. While we can’t physically turn the clock back on our past investment decisions (despite wishing that we could), the new cryptocurrency calculator from Coinread does make it possible to look back and see what you could have made if you had the foresight to invest early in various cryptocurrencies. The ‘If I invested’ calculator also makes it possible to discover how much you would make today if you invested in a cryptocurrency.
Answering the ‘what ifs’ With the Coinread calculator, users can select an amount to hypothetically invest from one of the ten fiat currency options available. They can then choose from over one hundred cryptocurrencies to invest in and see the outcome of their speculative investment.
The calculator also has the option to change the initial investment date and the date for the calculated outcome, making it easy to satisfy your curiosity when it comes to historic crypto investment and answer the questions of friends and colleagues when they start discussing ‘how much you could have made if you had invested in Dogecoin’.
Let’s look at an example: It’s March 2020 and the Covid19 pandemic hits the world. With more and more people being required to stay inside and isolate, you find yourself with more time on your hands. After exhausting all the lockdown activities you can think of, which includes baking banana bread, yoga and binge watching the Tiger King, you decide it might be interesting to look more closely into the world of crypto currency. After doing some
