There are many ways to quantify the general public’s interest in Bitcoin. A rising BTC value on its own may not necessarily do the trick. However, a lot of people are querying Google for the term “is Bitcoin a good investment” in recent months.
Is Bitcoin a Good Investment Today?
It is always difficult to convince people about Bitcoin in any capacity. Most individuals simply want to know if they can make money with the world’s leading cryptocurrency. Given its historical performance that is not entirely abnormal.
Compared to other assets, Bitcoin performs much better year over year, but the path to success is never even.
Even today, the value of Bitcoin is noting some solid momentum. It has breached $17,000 and seems well underway to hit $18,000 in quick succession. To the average onlooker wondering if Bitcoin is a good investment, this may seem like an excellent opportunity to scoop up some BTC.
In reality, there is never a good nor bad time to invest in Bitcoin. Is Bitcoin a good Investment? That is a question only an individual can answer, rather than relying on opinions by peers. Overall interest in this Google query is on the rise recently, however. That often indicates something may be brewing behind the scenes.
Even then, chasing the top is a very risky and dangerous game. During the previous run, Bitcoin hit just under $,20,000. People who bought at that price are still waiting to break even. Bitcoin can be a good investment, depending on one’s personal expectations and preferences.
This is not a Market Indicator
A Google query such as “is Bitcoin a good investment” helps determine global public interest in BTC. However, it is also a metric that can be manipulated with relative ease. On its own, it should never be considered to be a market indicator. There are a lot of other factors at play as well.
Keeping all of the above in mind, the current Bitcoin bull run remains somewhat mysterious. It is only the second time such a strong uptrend is noted since the asset’s inception. Everyone knows what happened the previous time. Only time will tell if history repeats itself, either for better or worse.
Considering how BTC has gained 55% in value in the past 30 days alone, the top may very well be nearly in sight. That doesn’t make Bitcoin a bad investment, even at current prices. It is all dependent on what one aims to achieve and how long they want to wait for this to happen. With Bitcoin, the long-term approach always seems to work best. Holding BTC is a very prominent market approach.