Many traders have made a massive fortune from Bitcoin (BTC-USD).
This happened when Bitcoin surged to a record high near $20,000.
Thereafter, it plunged.
Now, bitcoin is again making a comeback.
It stands at above $7,000 on Friday, 17th May 2019.
The world’s largest cryptocurrency has surged 50% in May itself.
Some big-name crypto players have declared that this is the beginning of the Bull run in Bitcoin.
Erik Finman, a 20-year-old bitcoin trader, is one of the big beneficiaries of the boom in the crypto currency.
He has reaped the benefits of the cryptocurrency’s surge.
Erik Finman first invested in the space at just 12 years old after his grandmother gifted him $1,000.
He revealed to Yahoo Finance that his initial investment has grown into 458 bitcoins now and is worth $3.7 million.
Finman opined that Bitcoin will have one more big rally.
He outlined four problems plaguing the cryptocurrency market.
(i) high transaction fees.
(ii) It takes a long time to send anything
(iii) The problems are fragmented, it’s ‘cult-ish’, it’s a lot of in-group fighting.
(iv) It’s really hard to get into the cryptocurrency space.
Erik Finman warned that Bitcoin will die if those problems aren’t solved.