Coming into the first quarter of 2020, offbeat asset bitcoin is already proving to be the year’s best investment.
The benchmark cryptocurrency’s upside run has returned roughly twenty-fold returns in January. Its rate peaked at over $9,190 on Coinbase exchange on the 19th. In comparison, it was trading at a mere $6,300 on December 18th, 2019.
Many in the finance industry believe that the ongoing bitcoin price rally is a farce – a classic speculative bubble that would sooner or later leave investors under sizable losses. That includes a famous economic forecaster, Peter Schiff, who sees no foreign capital entering the bitcoin space.
Instead, he believes speculators within the cryptocurrency industry are driving the value upward.
But then, there is another section that wholeheartedly validates the price rally as organic. They include enthusiasts that treat bitcoin as a long-term investment against inflation and investors who see the cryptocurrency’s growing prominence as a “safe-haven” on Wall Street. Read More...