I think the Bitcoin price is going to crash, so I would rather buy shares in growing ASX companies like Pro Medicus Limited (ASX: PME) and Catapult Group International Ltd (ASX: CAT).
Is a Bitcoin crash coming?
Since the beginning of June, the price of Ethereum (black line) has fallen from over $400 to its current $194. For the math wizards out there, that's a fall of more than 50% — in around seven weeks. Yikes.
Meanwhile, Bitcoin fell from $3,000 to $2,000. Then, it recovered and currently trades around $2,700.
However, tomorrow is August 1st.
D-day for the cryptocurrency, according to some experts.
August 1st is the date which the Bitcoin overlords are destined to meet up behind a secret waterfall in the Swiss Alps to discuss the future of the digital 'currency'.
(the 'waterfall' part was a joke — I'm not sure where they are meeting)
But the overlords are meeting to set the future of the currency.
Some 'miners' of Bitcoins want to do one thing with the currency, while others in the Bitcoin community are eager for it to become a truly global and secure digital currency for transactions.
Should I sell now?
I think Bitcoin could fall on August 1st. However, I wouldn't bet my life savings on a big fall.
And rather than using a fall in the Bitcoin price as an opportunity to load up on some coins, I'm going to watch it from afar.
You see, the Bitcoin currency has some significant limitations and many hurdles it must leap if it is to become the pervasive currency it is supposed to be.
And speculative 'assets' have a habit of coming back to bite the average Joe, like me, when they least expect it.
2 ASX shares
So while the returns from Bitcoin, Ethereum and Ripple appear to be otherworldly, I'm sticking to the tried and true realm of share markets.
And if you are in the market for speculative 'investments' that have the potential for outsized returns, you too could stick shares of companies like Catapult Group and Pro Medicus on your watchlist.
The share prices of these two Melbourne-based tech companies are up 250% and 400%, respectively, over the past three years.
Best of all, they are real companies selling real products, based in Australia and regulated by ASIC and the Australian government.
One day, they might even pay dividends!
That's my kind of D-day.
