WHY BITCOIN PRICE FALL IS NOT REAL. WHETHER TO BUY OR SELL?
If you are a student of bitcoin market you might have noticed that bitcoin prices which were at an all time high in june i.e almost touching the $3000 bar are suddenly stuck between $2500-$2650. At a time like this people who were associated with a bitcoin in 2013 would feel that what the analysts called as the crypto massacre would soon be repeating itself. (For those who dont know in 2013 bitcoin prices went as high as $1500 and then suddenly dropped to $200).
However when asked if the history would possibly repeat itself. Marc kenigsberg, CEO of Jamworx (an online marketing company) said
"The price increase in 2013 was driven by the use of Bitcoin in darknet marketplaces like Silk Road and the majority of money that was invested was done so without an understanding of what Bitcoin is or how it could be used. The Bitcoin ecosystem today is substantially larger and more mature as a means of payment than ever before."
Hence it is not possible for the bitcoin to drop down so low. Whew!
SO WHY IS THE PRICE FALL NOT REAL?
The answer that you all have been waiting for is best explained by Kenisberg. According to him,
"Some of the speculative money that has been invested in the last few months by outside investors is being taken off the table as profits. Secondly, the market is still reacting to Bitmain’s threat tactics and the risk of a possible hard fork as retaliation for UASF. Ultimately Bitcoin is still up almost 150 percent YTD so I’m not concerned at all. Clearly, the fundamentals are strong and the demand is still increasing."
SO IS IT TIME TO BUY MORE OR SELL?
Looking at the market we can observe that people are buying more bitcoin than they were in 2016. Hence the network is growing. Bitcoin searches on Google are also at an all time high an people are getting more and more educated about bitcoin. Countries are also seeing a growth in the acceptance of bitcoin as payment by mass merchants. Simply put, more merchants accept it, more people use it and more people want it now then ever before.
As also suggested by Kenigberg, it is the time to buy. The $2500 price tag might seem expensive but its going to look like a bargain a year from now.
Happy money making to everyone!
It is very speulative to talk about this supermarket. Bitcoin had to drop just like in 2013,so it can go higher. The predictions are that the Bitcoin will be new currency used in world just like we use paper money or bank cards. It is a long way for that but Bitcoin is growing and getting stronger. No doubt it will conquer te world.
Yes it will. And it is a good long term investment to keep as well.
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