Bitcoin returns as the new buy-and-hold investment

Remember bitcoin? It’s back in a big way.

Bitcoin prices have surged nearly 60 per cent to about $6,000 after plunging almost 75 cent in 2018.

Sure, the cryptocurrency is still far from its all-time highs of just under $20,000, which it hit in December 2017.But crypto investors are increasingly optimistic that the bitcoin bounce of 2019 is real and that it and other cryptocurrencies may enjoy a steady march higher.

It may be tempting to declare this year’s bitcoin rebound as another sign of investor insanity.

“Uh-oh: Investors are doing it again. Cue the sounds of a bubble being inflated. All we’re waiting for now is the inevitable pffft as the bubble pops.”

But bitcoin may finally be trading at an appropriate price.

The key for bitcoin going forward is for the gains to moderate a bit so history doesn’t repeat itself. No one wants another bloodbath like in 2018.

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Source: Finance news: Bitcoin returns as the new buy-and-hold investment