If you were reluctant about investing in bitcoin before, you’ve probably completely given up on the idea now.
The cryptocurrency is trading at around $4,000, a steep drop from its all-time high of nearly $20,000 last December, according to data from CoinDesk.
Investors looking for clues on how to move forward are likely to find themselves puzzled.
The U.S. Justice Department is investigating whether last year’s rally was a product of market manipulation. Meanwhile, Nasdaq plans to launch bitcoin futures as early as next year.
The bottom line is that any bitcoin investor needs to be prepared to lose everything he or she puts in, said Ric Edelman, founder and executive chairman of Edelman Financial Services.
“You need to invest with two attitudes: that you’re going to hold it for years, even decades and that volatility is an inherent element of the asset,” Edelman said.