If you’re a wiley investor, chances are you’ve been following the explosion in crytocurrencies in the last few years and Bitcoin in particular with some interest.
Far from its origins where a single Bitcoin might be worth a few hundred, or a few thousand dollars, in the last couple of days Bitcoin reached a huge price of AUD $45,000 per coin; at this price, there’s many investors who’ve made thousands (if not tens or hundreds of thousands) on their original investment in the currency months if not years ago.
From the start of 2020, Bitcoin was valued at around $10,500 per coin; the peak reached this week represents over a 300% growth – there’s few securities or other marketable valuables that could offer those returns in 12 months.
However, if you caught wind of big increases before Christmas – as many did – and hoped to join the gravy train, unfortunately there might’ve been a bit of a sting in the tail, at least for now.
Just yesterday, after reaching those dizzying heights the day prior, the value of Bitcoin tumbled more than $5,000. You might be wondering, is it still a solid investment? Well, that’s a decision for you, but if you look at the Bitcoin values since even the 1st of January – just 4 days ago now – they were worth $38,000 then, and $40,000 ish this morning.
If you had sold at the top of the bubble, that still would’ve been an 18.5% return in just five days. Not bad, if you timed it right.
Do you speculate in Bitcoin? Have you got money invested? How do your returns look despite the recent tumble?
