Is Bitcoin a Bubble?
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Cryptocurrency has been one of the hottest topics in finance and technology lately, and the hype just keeps coming. Understandably, this makes a lot of people excited about the prospect of investing in popular cryptos such as Bitcoin. However, a number of others are worried about the risk. Of course, any new investment trend is going to have yaysayers and naysayers—but how can you tell who’s right? Is Bitcoin here to stay, or is it simply a bubble that’s overdue to burst?
It’s impossible to predict what will happen to the value of any given asset over a long period of time, but Bitcoin does have several qualities that make it a unique investment—even among cryptocurrencies. Not only is it (quite famously) the first form of digital currency ever created, it’s also the most popular. In fact, there are over 28.5 million Bitcoin wallets active today, which means that plenty of people have enough confidence in Bitcoin to want to own some for themselves.
Still, confidence alone isn’t everything—and it definitely pays to be careful when you’re making investments with your hard-earned money. That being the case, you’ll probably want to do some research about Bitcoin so that you can decide for yourself whether it makes sense to invest in for the long haul. You might be looking for a way to invest your life savings, or just a few dollars at the end of each month—it doesn’t matter. In either case, the more information you have, the better prepared you’ll be to make smart financial choices.
The following infographic will tell you everything you need to know about the state of the Bitcoin market today—and tell you how to identify a potential bubble so that you can see for yourself if Bitcoin qualifies. Take a look, and use what you learn to move forward confidently with your investment plans.
Disclaimer: The opinions of our guest writers are solely their own and do not reflect the opinions of The Daily Hodl. These opinions expressed are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin or cryptocurrency. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility.