RATE Group | Forget the Bitcoin price! I’d invest £5k to help me make a million like this
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Forget the Bitcoin price! I’d invest £5k to help me make a million like this

05 Jan Forget the Bitcoin price! I’d invest £5k to help me make a million like this

Posted at 10:31h in Bitcoin News by

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Bitcoin became increasingly popular in 2019. The value of the cryptocurrency rose substantially during the year, although it has since retreated. 

As such, investors might be thinking of taking advantage of this recent price decline to add the currency to their portfolios. However, the Bitcoin price could fail to offer better returns than the stock market. Many FTSE 100 and FTSE 250 stocks have better growth prospects and income credentials.

Therefore, investing £5,000 in the stock market could be a better means of making a million. 

The Bitcoin price 

At the time of writing, Bitcoin’s price has fallen to around £5,000. This might look cheap compared to its trading history, but we’ve no way of knowing whether the current price represents good value for money. 

That’s because the Bitcoin price doesn’t trade on fundamentals. The price is entirely dependent on sentiment… it’s only worth as much as other investors are willing to pay. 

It’s much easier to ascertain the…

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