Since Bitcoin’s price has increased so quickly recently, speculative investors have been interested in it.
On December 31, 2019, the price of bitcoin was $7,167.52; a year later, it had increased by more than 300% to $28,984.98.
It continued to rise during the first half of 2021, reaching a record high price of $68,990 in November.
According to reports: After that, it began to decline and has since fluctuated around the $40,000 mark.
The price began to decline in early 2022, as was already noted, and it has been doing so throughout the most of 2022.
Therefore, rather than buying Bitcoin to use as a means of exchange, many people do it for its financial potential.
Its digital form and absence of a fixed value, however, make its acquisition and use fraught with dangers.
For instance, the Securities and Exchange Commission (SEC) have issued many investor advisories involving Bitcoin investment.