On May 14th, Bitcoin touched $8,000. Many pundits predicted it as a short term price hike and the cryptocurrency will lose its worth again and the price will drop. Well, not only the price hasn’t dropped, it’s continuing to surge higher and currently, Bitcoin is worth 8,659.68 United States Dollar at the time of writing this article and all set to hit $9000 and who knows where it will stop.
US dollar has lost 99.99% of its value against Bitcoin in the last 7 years. According to Cryptoslate, The trend is surprisingly similar to the behaviour of Germany’s Papermark during 1920s hyperinflation.
Is there any substantial pullback to the price horizon needs to be seen but the question, for now, is that right time to invest in crypto?