Within the past years, bitcoin has been a buzzword for its incredible soarings as well as plunges. Last year, it attracted the attention of the masses when it increased from $1,000 at the beginning of 2017 till $20,000 in mid-December.
2018 seems to be a more disappointing year for both bitcoin and its brethren. Since the start of the year, BTC has been heading downwards, losing nearly $11,000 in value (which is about 60% of its value) between January 6 and February 5.
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The extreme gyrations have also been an inherent part of crypto market evolution. Within the same period, the total market capitalization halved from around $800 billion to about $350 billion, according to the Coinmarketcap.com.
Despite anything, the giddy currency has even drawn the attention of America’s top athletes, as NFL personage Richard Sherman, the Seattle Seahawks cornerback, told CNBC.
"Especially the way bitcoin boomed from nothing to... $19,000 at one point that really caught the eye of a lot of people. Ever since then it has been a common conversation for a lot of us," claimed Sherman.
This athlete has been a bitcoin enthusiast for around four years since he started accepting this crypto as a payment method for his online store. Moreover, he is a representative of Cobinhood, an exchange platform, as well as an investor into this firm’s asset COB. Currently, as he is recuperating from the sports injury, Sherman is spending his time learning more about digital money.
Owning BTC, LTC, and ETH at the same time, the sportsman says that his NFL fellows are also considering piling into cryptocurrencies. However, he, personally, does not hurry up giving out pieces of advice to people, referring to cyber money market as a volatile one. Interestingly, his football mates often ask him little questions like whether cryptos are physical coins or not.
"A lot of them have just been trying their best to become more educated on not only cryptocurrencies, but just stocks and trading in general. Because a lot of them have been taken advantage of by financial advisers," Sherman said.
The athlete concluded that his buddies are trying to learn more about the novel assets at present.
"It is difficult to try to advise anyone, but we definitely have a ton of conversations about it," the sportsman noted.
He also added that none of them (athletes) was fostered up with proper education on financial issues. Perhaps, that is why approximately one in six NFL sportsmen declares bankruptcy after more than ten years after retiring, according to the NBE 2015 Research.