If you’ve been watching the news lately, you might have noticed that cryptocurrency – and particularly Bitcoin – are the talk of town. While volatile, Bitcoin’s impressive rise from around $8,000 to $20,000 saw it explode onto the news, and more and more people are getting interested in what this could mean.
Of course, since then Bitcoin has gone down, but all speculation points that a rise is likely. The big question on everyone’s lips is how high can it go? While nobody can really answer that question honestly, some are saying $100,000 could be a possibility.
2018 is being slated as the year of cryptocurrency, and for online moneymakers, the project seems a match made in heaven. While the value of any investment can go up as well as down, millions are getting into positions, hoping that they can become cryptomillionaires.
Speculators also believe that “winter is coming” – and that this is a bubble which will crash at some stage. With so much hype and speculation going into Bitcoin and others, the prices continue to rise, and for the lucky few who get in at the right time and get out before the tip, there’s plenty of money to be made.
Unlike traditional markets, the volatility and speed of the crypto markets make them an attractive choice for people who want to invest quickly and see gains (or the horror of losses) at speeds that traditional stock markets can never hope to meet.
If you want to throw the dice, this is a great time to do so – but just remember, never invest more than you can afford to lose, and be smart and do your research before you invest – good luck!