Bitcoin Falls Below $60,000. Here's Why I'm Still Riding the Cryptocurrency Roller Coaster.
If you're like most Bitcoin (CRYPTO: BTC) investors, you're probably more than a bit concerned right now. Something is just not right. After hitting a new all-time high of $73,750 back in March, Bitcoin has been unable to find its way higher and has now dipped below the $60,000 mark. Even worse, some analysts are predicting that Bitcoin might fall all the way to $50,000 before it recovers.
But I'm still willing to ride the cryptocurrency roller coaster with Bitcoin. This cryptocurrency, famous for its wild swings and tremendous volatility, is likely to go on another bullish run by the end of the year. Here's why.
The major knock against Bitcoin is that it's simply too risky and too volatile to hold in a long-term investment portfolio. But that simply is not the case. In fact, I would argue that Bitcoin's volatility is a feature, not a bug. In short, if you want the massive-spike years when Bitcoin soars in price by 150% or more -- as it did last year -- then you must be willing to tolerate sharp downward spikes along the way.
Source Fool.com
