Current Drop In Bitcoin Price
Its not news anymore that the bitcoin price have really plunged down pretty much and that's really making investor skeptical on what their next course of action should be whether to dump or hang in there. An average man would say dump a reasonable amount of bitcoin just to be safe, but would we really call that being safe?
It most be safe at first but in the long run i strongly believe that would be a great lost to whoever go into a panic sale and naive, this won't be the first time bitcoin would be experience a huge plunge in price and it have always come back of that ordeal, not only come back but its price goes double.
Even with the fact that some are mention this ordeal wont be going away any time soon due to some factors:
- Failed test by SegWit2X which is the current proposed update choice by voters which also left a negative impression in the heart of miners/users.
- The problem of Bitcoin Unlimited not backing down yet and threatening to split away which isn't news anymore as well is one key factor that users are asking, that is that really happen wont the price down more than we all anticipated?
- Some are also concern that most of the key investors with huge stakes are with Bitcoin Unlimited.
With all this put in consideration it appears bitcoin might be seeing its worst days coming really fast and would advice dumping and staying away from the cryptocurrency, Well all this might seems rationally right but it isn't because we should also know there are people/investor looking to take the place of those investors who might want to move along with Bitcoin Unlimited.
The drop is bitcoin price is as a result in the negative analysis/comments from some blogger who doesnt really believe in Bitcoin Core to begin with. This looks like a strategy to scare people way in believing in the ideas of Bitcoin Core..
Even with the downward plunge in price it is still very notable on the market index that bitcoin have being maintaining its dominance and trading have being going up. Some might be wondering why would trading go up when there is a huge slope in price, well don't be because this is definitely the right time to buy more.
Reasons why bitcoin price would jump up in no time:
- The central banks of some countries are looking to bring in the cryptocurrecies into their systems which means there would be more constant flow of bitcoin in circulation and there would measures taken by bank to keep the price going up.
- Big businesses are starting to accept bitcoin as a mode of payment, i:e an Art gallery in London Mayfair accepts bitcoin which is a sign that bitcoin is gain popularity in the cooperate business world.
- Bitcoin is gaining more and more users in Asia by the day, and that would see businesses accepting it too.
Even with all the positive signs that the price will definitely go up i know there are still people out there that would say otherwise, like they are not a believer and tired of waiting on speculations, Well my advice is give this a month then decide on what you side you would be tipping to..
You can add to this comments and open to any corrections..
Upvote and follow