Stacey Leonard No Comments

Bitcoin’s Rise: Should I Invest in Bitcoin?

Bitcoin is the flagship of cryptocurrencies. With Bitcoin reaching its all-time high combined with attractive future value predictions, it’s no surprise people want to invest. But the real questions is: when and how much? Although we can’t provide an exact answer, we can give you the information you need to.

Bitcoin’s Rise and All-Time High

“The bitcoin price set another all-time high yesterday, rising as far as $8,380 on bitcoin exchange Bitfinex after recovering from the post-Tether hack market volatility. The bitcoin price has since receded to $8,292, but this still represents a 24-hour gain of almost two percent. This provides bitcoin with a market cap of $138.4 billion, making it just larger than French “Supermajor” Oil and Gas Company Total S.A.”  Josiah Wilmoth, Bitcoin Price Sets New All-Time High as Crypto Market Cap Nears $250 Billion.

Bitcoin has dramatically risen from $966 on January 1, 2017 to a high of over $8,200 on November 22, 2017.  Everyday there is news fueling Bitcoin’s rise. This is caused by the increasing amount of prominent investors, billionaires, and fund managers who comment on Bitcoin. These knowledgeable individuals’ opinions generate public trust and interest.

All-Time High… For Now

“Billionaire and ex-fund manager Mike Novogratz has restated his belief that bitcoin will end the year at $10,000, adding that ethereum could close at $500.” Sujha Sundararajan, Mike Novogratz Doubles Down on $10,000 Bitcoin.

“Wall Street strategist Tom Lee raises bitcoin forecast, now predicts 40% increase.” Tae Kim, Wall Street Strategist Tom Lee raises bitcoin forecast, now predicts 40% rise.

As these predictions and comments become prominent headlines, more people are taking note and investing in cryptocurrencies. This only further fuels Bitcoin’s rise. While all of this is intriguing and compelling, investors should exercise with extreme caution.

Proceed with Caution

“As the price of the digital currency continues to smash through record highs, hitting $US8200 for the first time, a growing number of commentators are drawing comparisons to the dotcom bubble and even the Dutch tulip mania of the 17th century.” Frank Chung, ‘Every generation gets sucked in’: Bitcoin bubble worse than dotcom boom, price ‘should be $US100’.

“Finance chiefs say bitcoin is ‘real’ but many think it’s in a bubble right now.” Arjun Kharpal, Finance chiefs say bitcoin is ‘real’ but many think it’s in a bubble right now.

If you are considering investing in bitcoin or any other cryptocurrency: do your homework, proceed with caution, and prepare for volatility. Due to the risk of these types of investments, only invest what you can afford to lose.

Did you know? Here at UpSide Accounting, we accept Bitcoin! We would be happy to talk more about Bitcoin or any other financial questions you may have. Contact us at (226) 214-3233.

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Job Opportunity – Tax Specialist

CPA Tax Specialist

 

Our accounting firm is looking for a Tax Specialist to join our growing team. The Tax Specialist will be responsible for completing T1/T2/T3 tax returns. This role is flexible offering the ability for you to manage your own schedule in a results oriented work environment.

 

About the Role

  • Prepare tax returns while ensuring that the submissions follow current taxation rules
  • Specialized knowledge to anticipate, identify and address tax issues relevant to the client’s business
  • Develop and maintain positive client relationships
  • Effective communication with our clients and partners and staff on tax matters

About You

  • Personable – You are personable and have great communication skills.
  • Curious – You’re a quick learner who works well on their own and is easily adaptable to change.
  • Accountable – You are accountable for your work and actions. You take full responsibly to ensure the quality of work is high and deadlines are met.
  • Independent – You’re comfortable working from home. You remain focused and diligent working in an independent work environment.
  • Techy – You know the ins and outs on a computer and enjoy researching and implementing new applications.

Skills/Experience

  • CPA Designated
  • Minimum 2 years tax experience
  • Experience and expertise in domestic tax
  • Comfortable making decisions on your own and are confident in your ability to provide sound tax planning advise directly to the client
  • Experience with Profile tax software
  • You can talk to a client about their finances simply and clearly and frame tax advice to clients in a clear concise manner

Working at Upside Accounting

  • Continuous Learning – We provide an atmosphere where we are constantly learning and provide a forum to learn from each other
  • Positive Vibe – a friendly vibe is nurtured to make sure we are always creating and encouraging a collaborative environment
  • Autonomy – Our work schedules are flexible and as long as you’re managing your work to fit the deadlines and work professionally, you will fit in well
  • Remote Friendly – Our cloud based applications allow you to work from home or from any space that may fit your needs

UpSide Accounting is a virtual firm providing bookkeeping, tax, and consulting services.  By employing the latest technologies, our goal is to service the customer by offering solutions that best meet the customers goals and needs.

Interested in joining our team? Please apply below:

 

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