Bitcoin is trading over $ 56,000 today. Whether you should buy Bitcoin or not would depend on your risk appetite and investment Horizon
What is Bitcoin?
Bitcoin is the world’s first digital currency. It is a virtual currency which can be exchanged through peer-to-peer bitcoin network. Transactions are verified by network nodes and recorded in a public distributed ledger called a blockchain.
Should you buy Bitcoin now? Here is why Bitcoin is an inherently risky asset class
Case in point, compare NASDAQ with Bitcoin
On 28th Sept 2018, NASDAQ was at 8046. It fell to 6332 by 21st Dec 2018, a fall of 21%
On 27th Sept 2018, Bitcoin was at $ 6510. It fell to 3563 by 19th Dec 2018, a fall of 45%
Even a cursory comparison between two charts clearly shows that the Bitcoin is much more volatile than NASDAQ.
Read this CNBC article on why Bitcoin is so volatile?
High volatility triggers a lot of fears and emotions, so an investor must get into Bitcoin only if they are sure if they have stomach for this level of volatility
Once you are clear that you can handle the volatility, you must define the timeframe you wish to hold the Bitcoins?
Are you a trader or an investor? Are you a short term or long term investor?
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Motley Fool: Should You Buy Bitcoin at $50,000?
Check out other Altcoin predictions here
Should you buy Bitcoin now? What is Bitcoin price forecast for September 2021?
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Bitcoin chart fractal suggests BTC price will have rallied to at least $80K by September
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Bitcoin chart fractal suggests the price of BTC will climb to at least $ 80,000 by September
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Bitcoin may reach $150,000 by September this year
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Altcoin Performance YTD
Should you buy Bitcoin now? What is Bitcoin price forecast for 2022?
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