It was relatively easy to buy Bitcoin. The price continued to increase seemingly every day. Thousands of people took a big bet and bought Bitcoin up. The price skyrocketed in just a few months. In the summer, it was hovering around $3k and $4k per Bitcoin. By the end of December, it peaked at $20k. That run-up was unthinkable.
But for a lot of people, it was the first time they had ever invested in anything. And let’s be honest, Bitcoin is a speculative asset at best. A lot of people got burned after the price inevitably went down.
Things don’t just go up forever.
Do yourself a favor and take a look at the history of Bitcoin’s price. Every single time it goes up it also goes back down.
Will there be a point in time in the future when it goes beyond its current price ($40k or so at the time of this article)? I sure hope so.
But I strongly want to encourage anyone who is considering purchasing Bitcoin to do a few things. Research, contemplate, and watch. Would you be okay if it crashed 75% in the next month and the price didn’t move again for 3 years?