3 Lessons I've Learned From the Bitcoin Boom
Nearly every investor has made bad mistakes with their portfolios, buying losing investments and missing out on explosive growth opportunities. Yet few mistakes can equal my experience with the cryptocurrency bitcoin. My skepticism about bitcoin is well documented, and the cryptocurrency's huge rise has given those who ignored my warnings and bought bitcoin in mid-2013 gains of roughly 4,000%.
You'll never avoid mistakes, but you owe it to yourself to learn from them. I'd like to share three lessons I've learned from my experience with bitcoin, in the hopes that you can apply them to all of your investments -- no matter what you prefer to hold in your portfolio.
On looking at bitcoin in 2013, I thought that the meteoric rise that bitcoin had already enjoyed was almost unbelievable. Going from less than $0.01 to $100 in the span of just a few years was extremely impressive, especially in an environment in which bitcoin use was a lot more limited than it is today. Yet rising adoption of the cryptocurrency and increasing difficulty in mining bitcoin helped shift supply and demand to make prices rise, and we're still seeing the positive momentum continue even with bitcoin having gone well into four-digit prices.
Source: Fool.com