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Bitcoin Is a Roller Coaster: Here’s How to Manage the Ride

Investing in the most popular cryptocurrency is like buying a ticket in a roller-coaster ride. However, you’re in the investment world and not in an amusement park. I likened Bitcoin with a roller-coaster ride because the experience of investors has been a series of drastic price changes. There are good turns but more very bad turns along the way.

If you’re planning to take a spin on Bitcoin, you need to learn how to manage the ride. Otherwise, take your money somewhere else or invest in a safer blockchain stock like HIVE Blockchain Technologies (TSXV:HIVE).

The Bitcoin ride

The rise of Bitcoin has been phenomenal. Trading online with virtual currency is regarded as the future of commerce and monetary exchange. That is the reason for the cryptocurrency’s huge success.

However, tragedy struck. Early investors made millions, while many latecomers rushed to invest, only to lose their life savings. Serious risks emerged, which validated the consensus of many companies that the cryptocurrency is not a legitimate exchange. Some went further by saying it’s a Ponzi scheme.

Many investors are constantly looking for solid investment opportunities for retirement. They thought Bitcoin would outperform the highest dividend-paying stocks and deliver enormous returns. The price topped $20,000 in mid-December of 2017, or an increase of 209.5% from early November.

The ride turned perilous from there. At the start of 2019, Bitcoin tanked below $4,000. By late February, the digital asset regained strength. In a matter of three months, the price soared close to $9,000. The cryptocurrency market is alive again. On June 22, the $10,000 mark was breached and peaked at $13,016. As of this writing, Bitcoin has pulled back to $9,946.

Renewed positive vibes

Cryptocurrency proponents and investors are marveling again at the Bitcoin rally. System-wise, Bitcoin is stable because of blockchain technology. But price-wise, the digital asset is unstable and prone to wild price swings.

Without the blockchain technology, Bitcoin would have no value. That is why you can position early and invest in HIVE Blockchain Technologies. The stock is now available at the OTC market in the U.S. As the company gains exposure to more future investors, HIVE will have better liquidity and realize the long-term strategy of enhancing shareholder value.

The Canadian cryptocurrency mining firm and blockchain infrastructure company is the industry leader. The stock is highly linked to the price movements of Bitcoin. The cryptocurrency market is a new frontier with only a decade of existence.

Blockchain is a relatively young technology but is expected to be adopted by major banks and financial institutions. There will be forthcoming changes in the crypto space and the market will still evolve.

If you see still see Bitcoin an interesting play because the value can increase at a very rapid pace, make little investments to experience the ride. Vigilance and caution is the best strategy. Meanwhile, keep track of HIVE, as the company has the potential to be the top blockchain stock of the century.

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