The days of Bitcoin below $10,000 should soon be over. This new asset class is currently worth over $150 billion. Bitcoin has become a viable global currency and acts as a store of value, like digital gold. It’s a digital form of money that governments cannot control or debase. We can transfer it without the involvement of big, corrupt banks. For those who don’t place much trust in government or big banks, Bitcoin is the thing.
The price of Bitcoin has been on a roller coaster since, falling through much of 2018, only to return strong in 2019.
Bitcoin’s volatility isn’t going anywhere, anytime soon. But that isn’t surprising. Volatility is the very life-blood of realizing explosive gains in the market. But the only performance that really matters is that since April 28, 2013, Bitcoin has climbed an astounding 6,972% overall.
Long-term investors who held their ground and saw the value of this digital gold have been rewarded. Big time! This is a high-risk/high-reward asset and like all high risk investments you should not allocate more resources than you’re willing to lose.
Any investor should have at least a very small portion of his portfolio invested in Bitcoin right now. There are plenty of reasons why Bitcoin should soar higher, not just over the long term. There are plenty of potential catalyst on the horizon. The all-time high of $ 20,000 should be exceeded soon. The days of Bitcoin below $10,000 could soon be a thing of the past.
If you missed the big moves up in the past, position yourself now because there is probably a lot more to come.
Sven Franssen