2024-12-24T16:40:55+0800

As the world's largest cryptocurrency, Bitcoin, neared an all-time peak of almost $100,000, a finance expert and podcaster warned against putting everything into Bitcoin. "I would never put all my money into Bitcoin," podcaster Carmen Mayer told Reuters TV. "But I think it's a nice diversification. It's different from shares, it's different from property, it's different from gold or even silver." The best-known cryptocurrency has soared 120 percent so far this year and about 34 percent this month with the election of Donald Trump as U.S. president and a slew of pro-crypto lawmakers in Congress. However, both gains and losses are part of Bitcoin, said Mayer. "Bitcoin is very volatile. It means it makes fast, big movements upwards, but it also makes them downwards," she explained. After Bitcoin failed to breach $100,000, investors are anticipating a significant downward move for the cryptocurrency. "We have seen in the past that setbacks can also occur very frequently after large price jumps," pointed out the Managing Director at Frankfurt's Centre for Financial Studies, Volker Bruehl. "In this respect, you have to ask yourself whether now is still a good time to enter the market at these high prices," Bruehl added. "Caution is advised here." Bitcoin hit a record high of $99,830 on Nov. 22, but it has since fallen more than 8 percent to a one-week low of 91,377.32 on Tuesday (November 26). #bitcoinnews #bitcoin #englishnewslive #moneycontrol #moneycontrollive #moneycontrolpro Subscribe: https://bit.ly/moneycontrolyoutube Follow us: Visit https://www.moneycontrol.com/ Facebook: https://www.facebook.com/moneycontrol/ Twitter: http://www.twitter.com/moneycontrolcom Instagram: https://www.instagram.com/moneycontrolcom/