From Nasdaq
January 16, 2025 12:00pm:

Bitcoin has surged to record highs, attracting investors. The recent surge is due to halving events and regulatory changes allowing ETF ownership. However, the cryptocurrency’s volatility makes it risky for conservative investors. Despite potential profits, bitcoin is still viewed as a speculative asset with unpredictable price swings.

Russell Hackmann of Hackmann Wealth Partners explains that bitcoin has surged from $17,000 to $93,000, with a high of $105,000 in December 2024. The recent rally was triggered by a halving event in April 2024, reducing new bitcoin supply. The approval of ETF ownership by the SEC also contributed to the rally, attracting new investors and driving up prices.

Investing in bitcoin can be profitable and offer diversification. Its scarcity, like “digital gold”, sets it apart from traditional currencies. However, its extreme volatility and potential for risky speculation make it unsuitable for conservative investors. Despite potential gains, history suggests a large downturn may be inevitable in the future.

Read more at Nasdaq: Bitcoin Is Surging: 3 Pros and 2 Cons of Investing In the Cryptocurrency Now