Like a bad smell, Bitcoin is back on the scene again. One of the world’s best known cryptocurrencies has come back after the huge cryptocurrency collapse of 2018, is surging in price for seemingly no reason.
Random price surges that end up letting speculators lose or gain hundreds of thousands of pounds is nothing new to bitcoin, and in fact the only surprising part of it is that way that people keep surging into the currency — backed by nothing, with no real world counterpart and multiple hacks, glitches thefts occurring on the reg — to try and make it rich.
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Last night, Bitcoin jumped to its highest point in four months, with a price jump that has seen it hop up in value some 15 percent on the day for no discernable reason.
So, perhaps we’re seeing a new cryptocurrency bubble form.
Bitcoin’s last big run saw it hit an all-time high of $19,783 back in December 2017, before the bottom fell out of the market, leaving late adopters with big losses after it collapsed. Now, the currency has just snuck past $5,000 on the way up, because this is a ride that never ends.
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There’s a lot of reasons not to buy into cryptocurrencies, even without the crash: it’s probably killing the planet, it was the reason you couldn’t get a decent graphics card without paying an obscene price for a few years, and there’s the fact that someone hacking your phone could steal millions in crypto.
What do you reckon, is this the return of Bitcoin or do you want to spend your money on safer ventures like dehydrated water or tartan paint? Let us know on Twitter at @TrustedReviews