The Wall Street Journal (WSJ), one of the leading newspapers in the US, answered the question “Should you invest in Bitcoin?” by describing the past experiences of investors.
Cryptocurrency investor Joe Oathout said that he lost 500 thousand dollars in Bitcoin in the first place, but he did not lose hope, believing that the market would rise.
The 45-year-old investor, who lives in Alaska and runs a small construction firm, said of the recent rises, “I didn’t jump for joy, but I said to myself, ‘I told you so.’ I knew this drop would be a turning point.”
Oathout stated that he took the periods of decline in Bitcoin as an opportunity and said, “At one point, I took out a mortgage and even reduced to invest some of it, but I stopped myself at that point.”
WSJ also spoke to investors who have given up on Bitcoin after the cryptocurrency market plunge.
Chad Brewer said that Hedera, the company that designed the Hashgraph system, an alternative to blockchain technology, has invested in the cryptocurrency hbar.
Brewer, 34, expressed his satisfaction with hbar investments and said he regretted not buying Bitcoin at the time.
Stating that she lost all the money she invested in Bitcoin with the collapse in the cryptocurrency market in 2022, Anna Napthali explained that she stopped her transactions after that. On the other hand, the 42-year-old investor said that she did not regret much and said, “Cryptocurrency has been overrated.”
Joshua Escalante Troesh, who founded the investment advisory firm Purposeful Strategic Partners, pointed out that despite the rise in the cryptocurrency market, investors should act cautiously.
Troesh stated that he recommends that at most 3 percent of his investors’ portfolio consist of cryptocurrencies.
The price of Bitcoin broke a record on Tuesday, rising above the 69 thousand dollar mark for the first time. Cryptocurrency then fell 8.6 percent. Bitcoin is trading at $ 66,700 according to the latest data.
The value of the global cryptocurrency market, including Bitcoin, has also increased by 3 percent in the last 24 hours, exceeding 2 trillion 540 billion dollars.
