Is Bitcoin a Good Investment? (Updated for 2016)

In late 2013 I did my first-ever Bitcoin video that I asked, “Is Bitcoin a Good Investment?”

Well, here we are almost 3 years later and I wanted to do some updated analysis.

My initial thoughts on Bitcoin were positive, but in 2013 I saw significant risks and issued a warning that I thought a market crash was coming…

And that was a very unpopular opinion in the Bitcoin community, but turned out to be right.

Let me remind you that I'm not a financial advisor, and this is not investment advice or a recommendation to buy or sell anything – It's just my personal opinion about Bitcoin and how I'm personally investing in this new, high-risk asset class.

During 2014, Bitcoin crashed from above $1,000 into the $200's.

Then, in 2015 Bitcoin's price based around the $200's where I started to accumulate for a long-term investment. I was buying in the $200's because I was bullish on Bitcoin long-term and felt that the pre-bubble price zone was a great value area to buy.

Bitcoin Price Chart

From the low's of 2015, Bitcoin has gained about 400% as of mid-2016…

And this has given rise to a plethora of positive new pieces from the mainstream media like CNBC and Forbes.

So in this episode, we're analyzing Bitcoin's outlook into the second half of 2016 and beyond.

In This Episode, You’ll Learn:

  • Is Bitcoin a good investment in 2016 and beyond?
  • Why Bitcoin crashed from the 2013 highs of over $1,000
  • How to find the best time to buy for a long-term hold
  • What to do when Bitcoin's price isn't available at a discounted value
  • The key major differences between trading and investing

Links & Resources From This Episode:

Pragmatic Capitalism – Cullen Roche

How To Trade Bitcoin For Serious Profit – By Chris Dunn

Cryptocurrency Mentoring Program

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About the Author

Chris Dunn is the founder of Skill Incubator. He is an active investor and entrepreneur with the mission of helping people learn Skills to thrive in today's economy. Chris spends his time testing and building multiple streams of income and investing the profits. Read more here.