It’s getting harder not to listen to Bitcoin skeptics

Bitcoin enthusiasts rejoiced on Monday as 1 BTC traded at $10,000 for the first time.

The celebration was short lived, but not because it immediately crashed back to earth. Just one day later, Bitcoin hit $11,000. 

The meteoric rise in value of Bitcoin in 2017 has left skeptics flabbergasted—and warning that people buying in risk losing a healthy amount of money. At this point, it’s a little hard not to understand their concern. Bitcoin’s value has risen so quickly that it’s been drawing comparisons to other historic bubbles, such as the infamous Dutch tulip mania.

It’s easy to see why. In 2017 alone, Bitcoin is up a whopping 1,000 percent. To put that in perspective, the Dow Jones Industrial Average (the most widely followed stock index) is up 193 percent… since 1997. That’s 20 years of investment in what is generally considered to be the best long-term investment, and it doesn’t even come close to what Bitcoin has done this year.  Read more…

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