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Cryptocurrency

The future of crypto: After fall of bitcoin prices, is cryptocurrency a good investment?

This year’s crypto crash burned many investors. But that doesn't mean the technology behind digital coins won't eventually be transformative.

Alex P. Kellogg
Special to USA TODAY
  • In June, Bitcoin had shed 70% of its value from an all-time high in November.
  • Some advisors and influencers say cryptos are still worth considering for investment.
  • While risky investments, the technologies underlying crypto will be transformative.

Over the past year, cryptocurrencies soared in popularity as superstar endorsers told would-be investors they didn’t want to miss the crypto train.

But by June, bitcoin had shed roughly 70% of its value from its all-time peak of $69,000 last November, and several so-called stable coins whose value was pegged to the dollar were worth a fraction of their advertised value.

Academics and others caution that cryptocurrencies are wildly volatile assets that are far riskier than investments like stocks or bonds, which are regulated, and add that anyone who puts money into the space should be prepared to lose everything.

But a number of proponents, from some financial advisers to influencers, say cryptocurrencies are still worth a look, particularly if it is a small part of your portfolio, you’ve invested money you can afford to lose, and you can let your investment sit for several years.