Bitcoin swings wow, but hold onto money

Your Funds

Bitcoin forced its way back into investors’ collective imagination last week after wild swings that had people dreaming of the cryptocurrency as a way to make traditional dollars fast.

As the mutual-fund industry moves closer to its first real bitcoin funds, the latest upswing in the price of bitcoin — which moved from $250 to above $450 on some exchanges in the last month — again had investors wondering if they should take the plunge.

When the Bitcoin Investment Trust gained 28 percent in a single day on Nov. 4, investors and the media — which seemed to lose focus on the new currency as prices had stabilized — were again captivated by currency’s wow factor.

Although the virtual currency has fallen sharply in recent days, it is still about 20 percent higher than it was a month ago.

The Bitcoin Investment Trust (GBTC) gives investors a look at what investors might expect when issues like the Winklevoss Bitcoin Trust get regulatory approval and start up. If the Winklevoss name rings a bell, you either saw “The Social Network” or know enough about the

Read more ... source: TheBitcoinNews