The price of a bitcoin can unpredictably increase or decrease over a short period of time due to its young economy, novel nature, and sometimes illiquid markets. Consequently, keeping all your savings with Bitcoin is not recommended at this point. Bitcoin should be seen like a high risk asset. A lot of people speculate with the price buying cheap and selling high.
Bitcoin mining is the process of making computer hardware do mathematical calculations for the Bitcoin network to confirm transactions and increase security. As a reward for their services, Bitcoin miners can collect transaction fees for the transactions they confirm, along with newly created bitcoins. Mining is a specialized and competitive market where the rewards are divided up according to how much calculation is done. Not all Bitcoin users do Bitcoin mining, and it is not an “easy” way to make money.
Bitcoin can be used to run Kickstarter-like crowdfunding campaigns, in which individuals pledge money to a project that is taken from them only if enough pledges are received to meet the target. Such assurance contracts are processed by the Bitcoin protocol, which prevents a transaction from taking place until all conditions have been met.
Long Term Positions
Bitcoin should be seen like a high risk asset, depends on you what percentage of your savings invest in bitcoin.