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Bitcoin’s price rose more than 16% Sunday to $39,544.28, the highest point the cryptocurrency has reached since June 16, according to data from Coindesk.
The price swing is a reverse of the downward trend Bitcoin investors have seen following a high of over $60,000 in April. As recently as July 21, Bitcoin fell below $30,000.
But given the crypto’s history of volatility, this increase doesn’t guarantee a long-term reversal. Bitcoin’s price is just as likely to fall back down as it is to continue climbing. The price swings are going to keep happening, and experts say they’re something long-term crypto investors will have to continue dealing with.
What Investors Should Know
If you’re investing in cryptocurrency, expect volatility to continue. That’s why experts recommend keeping your crypto investments to less than 5% of your total portfolio.
“I know these things are super volatile, like some days they can go down 80%,” Humphrey Yang, the personal finance expert behind Humphrey Talks, previously told NextAdvisor. “But if you believe in the long-term potential of [Bitcoin], just don’t check on it. That’s the