Cryptocurrency may be a good investment if you are willing to accept it is a high risk gamble which could pay off – but also that there is a strong chance you could lose all of your money. Prices of cryptocurrencies including bitcoin have been falling in 2022 amid a worldwide crypto price crash.

It is important before investing in bitcoin or other cryptocurrencies that you go in with your eyes open.

Early investors in cryptocurrencies like bitcoin will likely have made money: if you had invested £310 to buy one bitcoin in April 2016, six years later your investment would be worth about £24,000.

Bitcoin’s price soared through 2021, reaching record highs of just under $67,000 in November, but dropped to $29,000 (£23,700) at its lowest in May 2022.

While that is certainly worth more than £310 for one bitcoin, it shows how volatile even the most popular cryptocurrency is. The price of bitcoin has been falling in 2022 amid a wider cryptocurrency sell-off as investors steer clear or riskier investments at a time of rising inflation and interest rates.

Cryptocurrency may be a good investment if you are willing to accept it is a high risk gamble which could pay off – but also that there is a strong chance you could lose all of your money. Prices of cryptocurrencies including bitcoin have been falling in 2022 amid a worldwide crypto price crash.

It is important before investing in bitcoin or other cryptocurrencies that you go in with your eyes open.

Early investors in cryptocurrencies like bitcoin will likely have made money: if you had invested £310 to buy one bitcoin in April 2016, six years later your investment would be worth about £24,000.

Bitcoin’s price soared through 2021, reaching record highs of just under $67,000 in November, but dropped to $29,000 (£23,700) at its lowest in May 2022.

While that is certainly worth more than £310 for one bitcoin, it shows how volatile even the most popular cryptocurrency is. The price of bitcoin has been falling in 2022 amid a wider cryptocurrency sell-off as investors steer clear or riskier investments at a time of rising inflation and interest rates.