#TOPNEW Buying Bitcoin and Other Cryptocurrencies: What You Need to Know

Bitcoin and other cryptocurrencies have gained popularity and value since Donald Trump was elected president of the United States.

Bitcoin broke the $100,000 barrier for the first time at the end of 2024 and has risen over 132 percent since the beginning of the year. While the recent growth may encourage more investors in the cryptocurrency market, it is notoriously volatile and the path has not been so straightforward in recent years.

Cryptocurrencies experienced a massive drop in the so-called 'Crypto Winter' at the end of 2021, during which the prices of most coins were in recession until mid-2023.

The cryptocurrency market typically moves in cycles and has experienced several significant drops since its inception.

For Bitcoin and other major names like Ethereum, the outlook is long-term growth, but other coins have proven to be less solid investments, particularly some 'memecoins' based on Internet trends.