The cryptocurrencies that experts expect to soar: As Bitcoin hits levels to tempt even cautious investors, these are the five best investment bets... and five more that AREN'T worth the risk
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Cryptocurrencies are booming once again. Bitcoin, the original example of digital money, hit a record high of more than $100,000 (£79,815) per coin earlier this year, and may have further to climb. It is no wonder, when President-elect Donald Trump has previously pledged to turn the US into ‘the world capital of Bitcoin’. It’s just two and a half years since cryptocurrencies faced such a plunge in value that many thought they would all but sink into oblivion.
![[Glen Goodman is a cryptocurrency expert]](https://i.dailymail.co.uk/1s/2024/12/01/12/92669259-14145515-image-a-2_1733054995667.jpg)
In May 2022, holders lost around £300 billion of value in under a month and by the end of that year bitcoin was worth under $17,000. Now its value has soared by over 150 per cent in just 12 months. Other cryptocurrencies have seen similar resurgences.
So is it now a viable investment – or as volatile and dangerous as it ever was? And for those wishing to take a punt, where are experts spying opportunities – and which options are duds? Should you get stuck in?. Before you take the plunge into the world of cryptocurrencies, remember they are not an investment.
They are largely unregulated, very volatile and high risk – and if you lose money, you have no protection under the Financial Services Compensation Scheme safety net. Scammers also take advantage of the lack of understanding and regulation of cryptocurrencies to steal savers’ cash.
Bitcoin, Ethereum and Dogecoin. Matthew Long, director of payments and digital assets at the Financial Conduct Authority (FCA), says: ‘We continue to warn people about scams and inform them of the risks associated with crypto. If you buy crypto, be prepared to lose all your money.’.
