The following article represents the author’s opinion only and should not be taken as investment advice. Whenever investing in Bitcoin your capital is in risk. Make sure to read this post in order to educate yourself better on Bitcoin investments.
First, I don’t want to be overly pessimistic. Bitcoin has become one of the greatest investment assets in the world, but whenever bitcoin prices approach historical highs, every investor should consider the currency closely. Consider the end of 2016, when bitcoin approached $1,000 dollars. The first time bitcoin had broken the $1,000 dollar mark was back in late 2013, and as many experienced bitcoin traders will remember, prices suffered a dramatic collapse after peaking, then rebounded, then suffered a long-term collapse shortly after.
Many bitcoin investors lost a lot of money in that collapse. Some lost fortunes. So are bitcoin prices destined for a collapse every time they approach historical highs, or was 2013 a one time occurrence? First, let’s look at the Bitcoin historical price chart:
Now, before we go any further, it’s important to note a key difference between
Read more ... source: TheBitcoinNews
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