Bitcoin Isn’t That Volatile After All
2018 hasn’t been a very good year for cryptocurrency. Assets are down and every day bringing fresh falls of this popular and famous coin. Bitcoin did very bad the past 2 weeks and is currently trading, during time of writing, at R62 000 per coin. This is a better performance as yesterday when it was lower as R55 000.
When you look beyond the cryptosphere you will see that cryptocurrency technology is not doing so badly after all. Bitcoin News report that during the past two months the so–called FAANG– Facebook, Apple, Amazon, Netflix, and Goole – has been wiped out with $1 trillion. They also report that Nasdaq is down with 15 percent. Oil prices are down at $20 per barrel. Facebook is down with 39 percent, Amazon’s down with 25 percent, Apple and Google down 20 percent, and Netflix with 36 percent.
Forbes reports that Bitcoin(BHC) is still a good investment. “It is still very risky but professional investors should invest some small portion of their portfolio in this case.”
Bitcoin, the first decentralized peer–to-peer payment network appears to be here to stay. Last year in December 2017 it was almost $20 000 and it had a wild red in 2018.
Volatility is part of the cycle of life.