The following is my answer to a Quora question: “My financial consultant told me to invest in Bitcoin back in 2017. I told him I do not believe in Bitcoin. He came back to me and told me about it being at a low right now. What should I do?”
What you should do is find a new financial consultant. One of the principles of investment is to never put your money into something you do not understand. That is always a recipe for disaster. Now, regarding Bitcoin itself, the price is dropping for a reason. What lead to its massive price increase was pure speculation. Bitcoin does not have an underlying asset with any value. The intent of Bitcoin was that it be a means of exchange, precipitating a secondary market to sustain demand, and thus value. That has not happened, and it is unlikely to happen. The fact that your financial consultant is pushing for this calls his judgement into question.
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