Investors shouldn't let the day-to-day fluctuations of bitcoin deter them from investing in the valuable cryptocurrency, hedge-fund veteran Mark Yusko says.
to $7,944.33. The popular cryptocurrency was down 5% at $8,054.94 on Thursday afternoon, according to Coindesk.
The daily price of bitcoin "doesn't matter," Yusko said, adding its user base has grown every year since 2009. He admits the network is still pretty small.Earlier this year, Yusko said the cryptocurrency could hit $30,000 before the next major pullback, saying "we are in the next parabolic move." At the time, bitcoin's price was around $12,000.
Bitcoin has seen other notable bouts of volatility throughout its existence. The cryptocurrency rallied to almost $20,000 at the end of 2017, only to come crashing down the following year. Bitcoin has more than doubled in price this year.
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