Once again, bitcoin has smashed through another record on its meteoric rise of 2017. This most recent surge has surprised many, as speculation was concerned that a steep fall would follow the news of cryptocurrency regulation coming out of the UK, the EU, and the US. However, once again, bitcoin defies all odds and breaks away from the norm.
At 6:00 AM EST, we saw bitcoin break the psychological barrier of $15,000. This means that since September, its value has tripled. At the time of writing, the cryptocurrency is hovering at $15,816.98. The new futures contracts by CBOE Global Markets and CME Group could have a hand in keeping bitcoin from falling because of the talk of regulation. These contracts are launching on December 10th and December 17th, respectively.
Right now, many are predicting a quick break into $16,000, and that we could even see this by tomorrow. Something to keep in mind is that one of the cycles that the incredible volatile cryptocurrency has fallen into before is a sharp increase, for example, when it raised from $13 to $250 in a four-month period in 2013, followed by a quick crash, when it lost 80% of its value within only two days of reaching $250.
5 Charlie Munger Quotes Every Investor Should Know
Charlie Munger is perhaps best-known as the vice chairman of Berkshire Hathaway, where he has been Warren Buffett's longtime business partner. As well as holding this position, he also servers as the chairman of the Daily Journal Corporation and is a director of Costco Wholesale Corporation. Munger started his investment career in the 1960s when, Read More
It’s great to have the divergence of opinions on the matter, and there two fundamental theories of what “ investment factor” is. One theory says that the “ factors” are risk factors, and investors should be aware of “additional risks”, but still try to stabilize their portfolio with something that would give them a compensation in a long-term timeline. The other theory stands for “behavioral investment”, based on humans predictable nature to buy things that are going up in value, but in a short-term timeline.
In times of uncertainty or any other times, it’s always risky to extend all your investment too literally to one field, and do not stabilize your investment portfolio with different options. Is there another sky-high, short-term rally, or is bitcoin here to stay? Or is it a great time to buy gold, silver or other precious metals with your bitcoins? Just think about it.
This article is provided as a third party analysis and does not constitute any financial advice, which can only be provided by a certified financial adviser.