Is It Too Late to Start Investing in Bitcoins?

Bitcoin’s value is soaring. Over recent months, the cryptocurrency has hit record highs. In early May of this year, the open-source digital currency ballooned to almost $3,000 a coin. Last May, one coin fetched only $450. By no means is this growth a sudden trend. Bitcoin’s value has been steadily increasing since its inception in 2008, nearly a decade ago. Still, many remain hesitant to invest.

The theft of hundreds of thousands of Bitcoins from the now-infamous Mt. Gox may still haunt investors. Or perhaps the volatility, as the Bitcoin market is 26 times more volatile than the S&P 500, and the lack of governmental oversight have speculators forecasting disaster. This is understandable as Bitcoin is not backed by a precious metal, a country or a bank. It’s regulated by sentiment alone. Although there are clear advantages to a market structured like this, there are serious obstacles and dangers that cannot be ignored. If you’re willing to stomach the risk, however, investing in Bitcoin may be a worthwhile endeavor.

Full story at http://bit.ly/2seHkCR

 

 

 

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