If You Bought Bitcoin, Make Sure You Do This
The publicity during Bitcoin's incredible run from roughly $5,000 in March 2020 to just over $68,000 in November 2021 was likely responsible for drawing many newcomers to the original cryptocurrency. If you are one of these newcomers who bought Bitcoin (CRYPTO: BTC) hoping for a similar run, then you are likely disappointed with its dismal performance in 2022.
But before you sell or look for other opportunities, we need to walk through why that could be one mistake you don't want to make.
One of Bitcoin's most unique characteristics is known as a halving event. These halvings are what reduce the growth in the supply of Bitcoin with time. Unlike central banks, that can print money, or some other cryptocurrencies that have an unlimited supply, Bitcoin is designed to be capped at 21 million coins. Currently, there are about 19 million bitcoins in circulation.
Source Fool.com
