For the fans, Bitcoins rally was evidence that cryptocurrency is a good investment after all.
Lets do the math.
But perhaps youve heard about skyrocketing inflation over the past few years.
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Thats a difference of about 9.6%.
One of the arguments for Bitcoin is it works as a hedge against inflation.
Parking your money in Bitcoin would have meant you effectively lost $800.
Of course, its a mistake to buy into an investment when its hitting all-time highs.
The maxim is buy low, sell high.
This year alone, the value of Bitcoin jumped 45% but theres no guarantee that trend will continue.
But if that decision had gone the other way, Bitcoins value would have almost certainly tanked instead.
Thats a great way to lose money if you get scared and cut your losses when the price falls.
The bottom line is investing is always a coin toss.
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