Bitcoin and other cryptocurrencies are certainly making the news; just have a look at the Bloomberg’s news portal and a day will not go by without a headline on digital currencies.

Actually, I do believe that this is justified – Bitcoin is up 1,659 percent since last December, 290 percent since last September, 162 percent since October and 73 percent since November; that is 2 weeks ago. These are numbers that are driving everyone crazy; so yes, Bitcoin has earned its place on every front page and upon everyone’s lips.

And the truth is that people ‘are’ going crazy; I am getting calls on a daily basis with people, metaphorically and not, prepared to take loans and even sell the house so that they can invest some money in Bitcoin. Is it worth it? Should people put their hard earned cash into this Bitcoin roller coaster?

First of all, and this is my opinion; don’t listen to any investment advice on Bitcoin. Investment advice can only be given on what makes investment sense and I don’t believe that what I am seeing does so. Nor are there any of the fundamental reasons that normally characterise other ‘normal’ investments.

However I do understand those who would like to join the bandwagon. After all it’s human nature to enjoy being herded like sheep ready for shearing; the more the merrier. In this case, I would surely suggest only putting at risk funds that one does not really need. By this I mean, if instead of upgrading your full HD TV to a curved 4K behemoth, changing your iPhone 7 to and iPhone X or maybe buying that change of designer clothes since pink is the new fad, you may consider burning into Bitcoin instead. The current race to the top can end abruptly or last for another 5 years, no one really knows.

The following are what some experienced professionals had to say about cryptocurrencies:

Paul Donovan Global Chief Economist at UBS Wealth Management had this to say; "The bubble to end all bubbles continues. Cryptocurrencies only have value if accepted as currencies.”

"I dislike bubbles because bubbles sucker in large numbers of people and take their money and give it to a small number of people. And that's very destructive in the long term. And I think this is one of the problems that we've got,"

Donovan said in an October report that bitcoin's extreme price volatility detracted from its ability to be a "store of value," which is an essential feature of being a currency. "A twenty-fold increase in bitcoin prices in just two years, and an absence of any fundamental economic backing, cryptocurrency prices are almost certainly a bubble,"

Bridgewater Associates founder Ray Dalio in September questioned bitcoin's ability to be a unit of exchange.

"Bitcoin today you can't make much transactions in it. You can't spend it very easily, it’s not an effective storehold of wealth because it has volatility to it, unlike gold. … It's a shame, it could be a currency. It could work conceptually, but the amount of speculation that is going on and the lack of transactions hurts it."

However, Michael Novogratz a Wall Street veteran believes bitcoin can continue surging higher even if it’s a "bubble"; "I think this is going to be the biggest bubble of our lifetimes by a longshot. Bitcoin could be at $40,000 at the end of 2018. It easily could there's a big wave of money coming, not just here but all around the world."