My first run-in with Bitcoin was about 2 years ago when I decided to invest a significant chunk of change into it. My plan was to wait and so that is what I did. About 6 months later I sold it all with a 35% return on investment. This was my first real big “win” and after I felt there was no way I could lose money on this so I reinvested later on in the year. Fast forward 12 months and we are at an all-time low for the year with bitcoin sitting at about 19,000 right now. This is a 55% loss from my initial investment but I’m still confident, let me tell you why
Experts in 2022 are still predicting bitcoin to reach 100,000 sometime in the future and climb to 28,000 by the end of the year. The recent dip has been due to a string of bad economic news and the downturn of our economy. It has held up better than the euro, Japanese yen, British pound, and even gold. This is a good sign for the cryptocurrency as it is showing stability even in a bare market. My hope is that once we get out of the economic mess where in it will go back up along with the rest of the market. By no means am I giving the advice to buy bitcoin because the market is exceptionally volatile right now but I am suggesting not to sell if you have some because I think the potential reward could be far greater than selling now and losing half your money.
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