Who knows what it will be worth next year – or next week.
Provided by Greg Ferguson
The ups and downs of bitcoin have amazed investors. Back on April 1, 2017, one bitcoin was valued at $1,089.51. Five months later, the price had risen to $4,950.72. On December 16, the price hit a historic peak at $19,343.04.1
But when will the cryptocurrency bubble burst?
Provided by Greg Ferguson
Investors are excited about bitcoin – perhaps too excited. Their fervor is easy to understand. On December 18, bitcoin closed at $17,566. Back on September 22, bitcoin was valued at only $3,603.1
Yes, you read that correctly – the price of bitcoin jumped nearly 500% in three months. Thanks to this phenomenon, investors everywhere are asking if they should buy bitcoin or invest portions of their retirement funds in the cybercurrency. The air is filled with hype: bitcoin is “unstoppable,” it is “the answer,” it is “the future.”
It may also be heading for a crash.
25% of Americans were cyberhacked between March 2014 and March 2015. The American Institute of CPAs announced that alarming discovery in April, publishing the results of a survey conducted by Harris Poll. Disturbing? Certainly, but the instances of pre-retirees being victimized were even greater – 34% of adults aged 55-64 reported having their data stolen or compromised within that period.1
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