Just several months ago everyone was talking about bitcoin and how its value was skyrocketing and would not stop. At one point in December, it was even almost worth 20 thousand for one bitcoin. Yet, I don't seem to hear people talk about it as much these days.
When my mom heard about bitcoin, she believed what everyone else believed. That it would keep growing. She invested thousands of dollars into it, and it seemed to be a smart decision, because day after day, it grew by the thousands. However, one day when she checked, she saw that bitcoin had finally crashed. She ended up losing everything! (She invested)
Now Bitcoin's value is sitting about 8 thousand dollars per bitcoin. Will bitcoin continue to be valued as years are to come, or will people eventually forget about it?
For people to make money off Bitcoin they had to invest before it became popular around 5k and some people were actually smart enough to short Bitcoin. To do this you would buy at whatever price preferably low then when the Bitcoins price reached around 20,000 before the crash you would sell all your investment taking home whatever profit was made. This practice is well known as the pump and dump. I believe Bitcoin will be around for a long time but will not have a boom like the one we just had.
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