Over the past few years, Bitcoin has earned itself a rather dubious reputation due to its volatility that ramped up the bull run in 2017 which some already saw as a bubble that is about to burst any time.
This famous cryptocurrency has nothing to offer other than just waiting for the next person to buy it for a higher price and thus raise its overall value on the market. Therefore, it is fair to say that Bitcoin in its essence is purely speculative. That is why many people, while trying to earn money with Bitcoins, are resorting to tools that often appear to be scams. One such example is Bitcoin Revolution scam that advertises itself as an ultimate crypto automated trading asset.
Lending Tree Chief Economist, Tendayi Kapfidze, even came up with the new definition for this phenomenon. That’s what he said:
“It's a pyramid scheme. You only make money based on people who enter after you."
At the same time, BTC was pronounced the investment of the decade by Bank of America Securities. According to many specialists, Bitcoin accelerated 62,500% ever since it was first traded. This itself makes this crypto by far more profitable than the best-performing stocks of the 2010s like Netflix or Domino’s Pizza.
Bitcoin has been a strong investment asset but its purpose and the problem it is trying to resolve is nowhere to be found, as Tendayi Kapfidze once mentioned.
Bitcoin that was created by an almost fictional persona Satoshi Nakamoto, was supposed to become a new form of money that one day will be the only means of payment. And yet it is far from nowadays reality. However, looking back at the history of money, it needed to fail first before a new one was introduced. On the contrary, fiat money is still operating despite banks printing more banknotes each year.
Bruderman Asset Management Chief Market Strategist, Oliver Pursche, once said:
“It's a solution that's in search of a problem. For me, it's also a way to get educated on it...to me, if you want to learn about it, you've got to own it because that's the only way you're going to truly educate yourself and pay attention.”