Should You Buy Bitcoin While It's Under $70,000? The Answer Might Surprise You.

Bitcoin (CRYPTO: BTC) has a market capitalization of $1.2 trillion, which accounts for more than half of the total value of all cryptocurrencies in circulation. Therefore, its performance has a big influence over investor sentiment toward the entire industry, and it's having a very bad year.Many of the bullish catalysts that drove blistering gains in Bitcoin over the last decade or so have failed to materialize. For example, some investors believed Bitcoin would transform the entire financial system, but it has garnered almost no traction as a payment mechanism. Other investors considered Bitcoin to be a legitimate store of value, like a digital version of gold, but that thesis has also fallen apart (and I'll explain why).A single Bitcoin trades for $61,600 as I write this, a 50% decline from last year's record high of $126,200. Here's why buying it at the current price probably won't make you rich in the long run.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool