But lets face it, if you got into bitcoin even as late as March 2020, and captured a 10x return, you would have done much, much better than anything else. Even now at 20k, you'd be sitting on a 5x from a roughly 4k low.
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But I didn't. Woulda Coulda Shoulda !!!
And I was pretty well sitting in cash at the time. And I was late getting back in the market. Opportunity lost. On the bright side I didn't lose any money. My drawdown in 2020 was less than 5%. At the end of the year I was up. I'm sitting in cash again since this spring and I'll probably be late getting back into the game again.
Actually the first time I even considered bitcoin is when Johnarb and I got into a debate about trading vs buy and hold. Took a stab at it at 48k and got stopped out.
So back to the question what I don't like about bitcoin.
Although it can function as a currency at this time fiat is more widely accepted.
As a store of value it is too volatile for my liking. I think most regard it as a risk asset.
My prefered place to store value and protect my capital is cash.(At least short term)
Bitcoin doesn't actually exist: it's a virtual digital currency.
Virtual:...."not physically existing as such but made by software to appear to do so"
When you get right down to it bitcoin is a reward for solving a problem on a computer. It's value is in the mind of the holder. If you can find someone to exchange the reward for cash you win but you have to find, I hate to say it, a greater fool who is willing to pay for it for it to increase in value.
Google financial bubble and see if bitcoin fits.
