Did you miss out on a Bitcoin investment last year? Are you hoping to make up for it in 2021?
Bitcoin and other cryptocurrencies are notoriously volatile. However, smart management and good timing can mean serious return on investment.
On December 16, Bitcoin price hit all-time record high. The famous cryptocurrency broke above $20,000.00, an increase of over 170% in 2020. As a knock-on effect, cryptocurrency-related companies’ shares also surged.
The virtual currency has made several leaps in recent weeks, including one of over 10% that reached the psychological threshold of $12,000 a share.
US investors who recently sold their Bitcoin suffered losses of nearly $1.7 billion this past year. Many relatively new investors in the cryptocurrency markets suffered considerable losses due to the persistence of the cryptocurrency market downturn at the end of 2017, after Bitcoin peaked at close to $20,000 a few weeks prior.
It appears there is no room for doubt: cryptocurrencies are pretty much worthless! Or at least that is what the markets seem to be showing.