Cryptocurrencies, especially Bitcoin is now most popular than ever. Everywhere we see there is chatter about it. Well, the primary reason behind it is the constant shattering of all records highs for this currency. After enjoying a value of a whopping over 50k dollars, the digital currency plunged more than the typical lower circuit per cent in stocks.
If we look at Bitcoins price history and analyze it, we will conclude that it is a very volatile instrument. The reason behind its recent highs can be attributed to the interest shown by Elon Musk and his company Tesla. But, profit-booking is a strong tendency of any trading mechanism. That's why the current chances in my opinion are more of a considerable fall in the currency than it making highs. Although, as I said the currency is super volatile and unpredictable, we can't say for sure what will happen.Should you buy Bitcoin?
You can invest if you are looking at it in the long term perspective as bitcoin looks very promising in the future but I would not recommend you going all-in with your hand cash as the current market looks very unpredictable because it is engulfed by speculation more than anything.