Bitcoin Crash: Should You Be Worried?
May 16, 2022
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1:58Now PlayingBitcoin Crash: Should You Be Worried?
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as posted by the channelAre we in the middle of a Bitcoin crash? Check out the video to learn why!
Welcome back to Bold TV with Ashton Cohen. Be sure to like, comment, and subscribe to Bold TV for all things Bold.
Let's take a look at Bitcoin's pricing history. A Bitcoin sold for $4,000 in early 2020, and by November 2021, it had risen to $69,000.
Many people became millionaires, but the price has dropped dramatically from November to May 2022, to roughly $30,000. This is a reduction of more than half. As a result, many investors who bought Bitcoin when it was in the stratosphere are now losing money.
Bitcoin and the broader crypto market are open 24 hours a day, so prices can fluctuate drastically. Is this, however, the worst Bitcoin crash ever? Certainly not.
Because of a hack of a now-defunct marketplace where Bitcoin was sold in 2011, the price of Bitcoin dropped by 99 percent in one day. Other crashes in 2013 and 2017 also knocked the price of Bitcoin down dramatically. But, like any other investment, it eventually rebounded; there are booms and collapses.
I still feel Bitcoin is a fantastic investment. Despite its volatility over the last decade, Bitcoin today has an average annual return of over 200 percent, but investing in Bitcoin can be a roller coaster ride.
It has shown to be an outstanding long-term investment. Some individuals believe Bitcoin has no worth, while others, including me, believe it will easily exceed $100,000 by the end of the year.
Are you worried about the Bitcoin crash? Let us know in the comments below.
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