Bitcoin Reaches a Record High: Is Now the Time to Invest? – Motley Fool

Bitcoin Reaches a Record High: Is Now the Time to Invest? – Motley Fool

Bitcoin (CRYPTO:BTC) has been surging in recent weeks, shattering its previous records. The cryptocurrency recently reached a new high of more than $68,000 per token, up more than 53% since the beginning of October. Some experts believe this is only the beginning for Bitcoin, predicting its price will hit six figures in the relatively near future.

To be clear, nobody knows for certain whether Bitcoin’s price will continue climbing. After all, cryptocurrency is still speculative at this point, and it’s anyone’s guess where it will be in five or 10 years.

However, considering Bitcoin’s monumental gains over the past year, it can be tempting to start investing in the cryptocurrency. But is it really time to buy? Here are three things to consider.

Bitcoin symbol next to a Wall Street sign.

Image source: Getty Images.

1. Consider your tolerance for risk

When you’re deciding whether to invest in Bitcoin (or any cryptocurrency), the most important factor to consider is your risk tolerance.

Despite having been around for over a decade, Bitcoin is still relatively new. While it’s gaining more acceptance among merchants and the general public as a form of payment, it still has a long way to go before it’s
Source…