So You're Ready to Buy Some Bitcoin. Which Method Should You Choose?
Bitcoin (CRYPTO: BTC) has lost 75% of its value over the last year. The crypto market may have raced too high, too fast in the fall of 2021, setting pretty much every digital coin up for a sharp correction. Raging inflation and the painful government measures designed to fight that problem have also weighed on high-risk investments this year, and Bitcoin belongs in that category. And if these high-level market concerns weren't bad enough, crypto investors recently lost some of their faith in this sector after a leading crypto-trading exchange collapsed.
There could still be another shoe left to drop, driving token prices even lower. This ongoing slump is neither the deepest nor the longest crypto winter on record, as the plunge after the crypto gold rush in the fall of 2017 saw prices fall more than 80% below all-time highs and the next recovery started 14 months later. Still, this 12-month downturn is a force to be reckoned with.
So Bitcoin prices are down by a lot, and there are no guarantees that the negative trend has ended. Investors who doubt the long-term value of Bitcoin (or any cryptocurrency at all) may view this sharp drop as the beginning of the end. From that point of view, Bitcoin might never revisit the previous all-time high of $68,790 again, and there's no reason to invest any cold, hard dollars in this expired fad.
Source Fool.com
