All investments make sense when the price is low. I bought my bitcoins in September 2015, where it had hit a new low:
It had been falling for a long time prior to that, so people assumed it would continue falling. That’s the time you make a purchase. Don’t buy when it’s hot and everyone wants to buy.
I tweeted this then: https://twitter.com/markessien/status/645641369160126464
But the real reason I though it would do well was because of this: https://www.bloomberg.com/news/articles/2015-09-17/bitcoin-is-officially-a-commodity-according-to-u-s-regulator
If there is a market and something significant changes, it means there will be a change in pricing, either up or down. Bitcoin being a commodity cannot be negative.
Coming in to buy bitcoin now may be a good idea, but the problem is that there are no underlying fundamentals (as far as I know), driving it towards going up. It will keep going up, because people will buy because it’s going up, but that will not last forever.
I am personally bullish on bitcoin, but I’m not doubling down. It’s a nice little investment, but there is a lot of speculation around the price, and speculation is irrational, and not the basis for any serious investment.
I would not mind holding like 1% of my assets in bitcoin, but anyone doing so should be supremely aware that you have to be doing this for the long term. Treat bitcoin like you treat your stocks, not like a money doubling method.
If you want to invest, wait for companies you believe in strongly to go public and buy 4 weeks after IPO.
If you make 50% profits in a year, you are wildly successful. Bitcoin falls in that same group, not in the 1000% return group.