Bitcoin has hit a record high all over again and we're getting jealous
This is going to be the year we all regret not investing in Bitcoin.
Remember the good old days, when one Bitcoin wasn't even $800?
How long ago was that? About a year.
If you had invested one dollar in it way back in 2010, you would now be a millionaire.
The world officially has a new regret after the internet currency, Bitcoin, hit another record high on Thursday (7th December) with its value going past the $15,000 mark for the first time.
Having risen from $12,000, in the space of 33 hours this sudden surge has corrected the 20% drop in its value during the previous week. By rising 25%, Bitcoin has an estimated market value of over $256 billion, which makes it one of the largest stocks in the US financial services company, Standard & Poor's 500.
Still, if you suspect that this is the moment to smash the piggy bank and invest in a single coin, think again. All the money saved on missing the 2018 World Cup might not serve a better purpose here anymore, since the volatile nature of the currency has led many experts to speculate that a Bitcoin bubble now exists.
According to Bloomberg, at the start of December a number of hedge funds were preparing to short, or bet against, Bitcoin, because they believe there is a bubble. This means that they will try to profit from a possible collapse in its value, and the task was made easier after Cboe Global Markets Inc and CME Group announced on 7th December that they would launch a series of futures contracts on Bitcoin starting on 10 and 17 December.
Of course, betting against stock is an extremely complicated and tedious task to explain. The best person to guide us through it all is Margot Robbie sipping champagne - as opposed cans of Harp - in a bubble bath.
What all of this means is that there is hope for someone keen on getting into Bitcoin through any means possible.
It may be too expensive to invest in the coin now, because not many people have a spare $15,000 lying around.
Plus, the very fact that it went from a record high of $11,000 on 29 November to $9000 the very next day means that it is not that reliable either. But now,with Bitcoin futures contracts, which are regulated - unlike Bitcoin itself - you might be able to make all of your riches by banking on the failure of something that you mistakenly forgot to invest in seven years ago.
Isn't that the dream?