bitcoin investments

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As bitcoin prices dominate headlines, you might be wondering whether you should invest in the popular cryptocurrency. Probably not: It’s just too volatile. The virtual currency is known for wild fluctuations in price. The value of one bitcoin—which was created in 2008 by an anonymous programmer or group of programmers—reached its all-time high of $1,165.89 in November 2013 before taking a major dive, according to CoinDesk data. Since then, prices have more or less inched up, and at the turn of the year, they started to approach record highs. the value of a bitcoin reached $1,153.02. However,morning, prices suddenly fell by about $200. ’Liquidity dried up—no shorts, no sellers, which means a volatile little bubble formed quickly,’ Peter Smith, chief executive of bitcoin wallet Blockchain, told CNBC. Those sudden ups and downs would be bad news for your portfolio. Although bitcoin had a more than 100% return on investment in 2016, it’s also five times more volatile than the S&P 500, said Campbell Harvey, a professor of finance at Duke University, who described bitcoin as ’an extremely risky investment.’ Even if you were to buy bitcoin low and sell high, you still might not see the big pay you’re hoping for. ’You try to sell it, and by the time the order goes through, the price may have dropped,’ said Matthew Elbeck, a professor of marketing at Troy University. ’It’s really, really not worth it for the ordinary consumer.’ bitcoin investments Salt, Jordan
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