Well, you can get rich by investing in Bitcoin but it goes with immense risks and obstacles. That is to say, since its beginning when it cost hardly anything at all some of those geek-nerds that you used to make fun of have become instantly millionaires (or even near-billionaire) buying Bitcoin. In 2010, you could buy Bitcoin at a cost of the few cents, but by December 31st it approached $20k. People who invested early of the Bitcoin and keep it, they become millionaires or even billionaires.

Still, Bitcoin has an extremely volatile price that can change significantly within a day. Some have made a killing while others are counting the cost of wild price swings.

The magic formula of how to make potential money from Bitcoin consists in:

Being in the right place at the right time: Many of those who garnered massive profits purchased Bitcoin when it was a nobody and cheap, and then just cashed out once prices hiked.

Hodl:Some investors believe in the long-term potential of Bitcoin and keep their investment for years, despite all short term price changes.

Diversification — A Successful investors diversify their portfolio to spread the risk. Bitcoin is part of their overall investment strategy.

Knowledge :- Knowledge of the markets, technical advancements and global economic movements helps in making better investment decisions.

Although some people have made a fortune with Bitcoin, investments in cryptocurrency can be very risky and prices are notoriously unpredictable. If you are thinking of investing, make sure to do your own research and only invest money that you can afford to lose.