Bitcoin has had the jitters in recent months being less of the upward hike or downwards spiral that have been atypical association with it’s behaviour, instead the steep drop or the high climb Bitcoin is reminiscent of the Katy Perry song “your hot and your cold… you’re in and your out… we kiss make up” it’s been a roller coaster that could be likened to a situationship, assuming Bitcoin is the high flying lawyer on the fast track to an executive office! But one thing remains certain: Bitcoin may have its mid-life crisis of going from Mazda to Bugatti but it remains relatively stable like a high flying lawyer who hasn’t reached the peaks, Bitcoin is hard to count down and out, no matter how much its competition may desire to.
What you have to remember is Bitcoin is now an established store of value with institutional firms, the super wealthy and retail day to day people buying and selling, the dips present a perfect opportunity to buy and the highs present a good time to cash out and make a return, in a relatively short time frame compared to traditional investments which are more stable but are a slower burn. Bitcoin can also be a long term asset to hold and make an astronomical return but many tend to panic sell once they see Bitcoin has had a bit of a tiff!
To get back to our early analogy, what remains clear is that Bitcoin, like a phoenix, has a proven track record of rising from the ashes.
So whether it’s short term or long term bitcoin could be the fiat inflation hedge / gold alternative you are looking for, for your portfolio.