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Should You Avoid Investing in Bitcoin?

As with any type of new investment, there’s always going to be lingering questions regarding the ultimate viability and Bitcoin is certainly no exception to this rule.  While  it is a crypto-currency with  some unique attributes that might make it more or less desirable, not everyone is going to be want (or be able to) invest in Bitcoin.   Here are some indicators which might signal that a person is a prime candidate for this emerging investment opportunity…

First off, if you’re the type of investor that is very much anti-fiat, then Bitcoin might definitely be suitable for your needs.  Aside from the fact that there are certain controls built right into the currency itself which prevents an excessive number of “coins” from being printed or brought into existence, many businesses around the world are now accepting it as payment.  Having said that, you should realize that Bitcoin is basically (at this current moment in history) proving to be a “bubble machine” of sorts, with its value rather rapidly inflating and crashing in short cycles.  In other words, there is great potential here to make some serious cash, but at the same time one person’s loss is another’s gain, so one might also find themselves on the losing side of the trade if they’re not careful (i.e. – cash out at the top). When you are looking to compare cards, remember that Bitcoin works differently.

Moreover, whether or not Bitcoin is a good investment in the short-term will also depend upon which assets, stocks or commodities you plan on moving your capital into once you’ve pulled it out of the burgeoning digital currency.  In short, you have to have something to invest aside from Bitcoin, given that it has a tendency to make dramatic swings.  If you already own commodities or precious metals then you pretty much have your answer, however if you’re new to all of this then many questions will linger, obviously.

Additionally, there’s the question of whether or not you’re the type of investor who’s able to stay up-to-date with all the latest, ongoing Bitcoin movements.  Remember, we’re talking about a rather volatile investment here and a major swing upward or downward can come at any moment, so if you’re not really “connected” it might be best to stay away.  At the very least, the more serious Bitcoin investor might want to consider hiring a specialist to handle their digital assets.

Lastly, consider the fact that we’re talking about an unproven investment here – while there’s great potential for gains, there are also many chances for major losses.  Moreover, speculation abounds that Bitcoin is actually the covert creation of the central banks (a theory which is unfounded, but interesting nonetheless).  Only time will tell how ultimately viable Bitcoin is, until then it’s anyone’s best guess.

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