Biotcoin shows further strength and $20,000 is the next target
Biotcoin shows further strength and $20,000 is the next target

Bitcoin is showing further strength and the value could soon touch $20,000 as more people are buying cryptocurrency after its recent rally. While many technical experts, bankers and government authorities have spoken against the Bitcoin valuations, small investors have ignored those warnings. Bitcoin traded in $13,000 - $18,000 range during the first half of December 2017 but now it is looking all set to cross $20,000.

Bitcoin futures contract is picking up volume as well. Investors are confident that cryptocurrency are here to stay. And, they have ignored warnings about Bitcoin ending up as a bubble. There have been reports about people in the United States buying Bitcoin using credit card debt or taking up bank loans. The risky behavior could end up burning money for many as Bitcoin and other cryptocurrencies have remained volatile.

Increased interest in Bitcoin can also be attributed to recent media attention the currency has received. As mainstream media talks about Bitcoin, more and more investors are joining the Bitcoin bandwagon.

TopNews has been associated with stock market investing for more than 10 years and we have published several reports and stock market analysis. Bitcoin is different from all other asset or investment options. We don’t recommend investment in Bitcoin. We also feel that Bitcoin will end up as a bubble but no one can predict when the bubble will burst. In the meantime, it will help some lucky individuals to make money (if they exit at the right time). Let us wait for the bubble to burst.

The governments across the world have not done enough to control Bitcoin investments. The decentralized currency could see a fall in valuation and no government agency or central bank will be able to step in for damage control. For the moment, we consider Bitcoin investing nothing more than a gamble. It can pay off very well for few people but it will end up as a losing bet for majority of them.

Disc: The views presented are personal but the author has been in touch with many people in investing community. She shares the views with other investors as well.
The author has not invested in Bitcoin or any other cryptocurrencies.

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