Sunday, March 26, 2023

Despite All Odds Bitcoin Is Back, Sort Of

After a rough year that prevented Bitcoin investors from sleeping soundly, the cryptocurrency finally found its footing again, making a comeback that now values the coin at over $7,000. All of those investors can continue to annoy people by telling them that “Bitcoin really is the investment of the future.” Until it flops again, which it most certainly will.

Mashable reports that even though users of Reddit, Twitter, and all sorts of places were celebrating, it was only last December that Bitcoin was valued at $19,000. And now, less than a year later, it’s worth less than half of that price.

No one knows how to predict Bitcoin and what to do when the price soars, but it’s important for those investors and Bitcoin believers to tread carefully. Or not. As billionaire Marc Lasry says, “Bitcoin investors will be making 5 to 10 times their money in 3 to 5 years.” John McAfee — another Bitcoin believer and the guy who created the anti-virus software that has existed since the beginning of time — agrees with this sentiment. He believes Bitcoin will hit the $1 million mark by 2020.

Where does all of this certainty comes from? Most people don’t know. For now, Bitcoin has yet to find stability even though it’s been around for nine years. At the very least, it has survived another day.



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