Bitcoin could be a good long-term investment, but investors should be aware that huge price increases with crypto have sometimes been followed by a huge pullback.
Cryptocurrency values have risen since the beginning of this year, Bitcoin (BTC 1.96%) included. The world’s leading crypto has seen its value spike 94% over the past 12 months, and it has soared nearly 1,000% over the past five years.
Part of the recent rise has come as the federal government has backed off on some regulations for cryptocurrencies and even announced the Strategic Bitcoin Reserve. But investors should know that crypto values have boom and bust cycles, and today’s gains are no guarantee that more are on the way.
So, where is Bitcoin headed? Here’s what’s going right for cryptocurrency and what could slow its value growth over the next five years.
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The bull case for Bitcoin
One of the biggest…
