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What's going on with Bitcoin and other cryptocurrencies?
Around a year or so ago, my wife and I were meeting with my sister-in-law...
She had a boyfriend at the time who was interested in Bitcoin and other cryptocurrencies. She knew I had worked in the finance field, so she asked my opinion on it...
My advice was to not invest any money that you weren't okay with losing, because crypto (historically) has been very volatile...
Steady as a rock... it's not.
I don't know if her boyfriend took my advice, because next time we met her... she and her boyfriend had split.
However, I still think my advice was pretty good... The latest Bitcoin and other crypto prices bears it out!
Bitcoin has lost around 66% of its value since its most recent peak in November!
In other words... it's only worth about one-third now compared to what it was worth about 7 months ago...
I'd consider it a "speculative" investment... It doesn't mean you can't invest in it. But - in my opinion - I'd just put money in it that I'd be alright with losing!
P.S. This is not investment advice...
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