The popularity of bitcoin and other cryptocurrencies are growing in recent days. The flow of crowd moving into cryptocurrencies is unpredictable. With the flow of people the market is growing bigger and bigger. The initial investors are getting richer and richer. But in recent days bitcoins and all others cryptocurrencies are crashing giving some heart break to those who invested in the tip when bitcoin was around 17,000 and to all those who are new here.
Someone who is experienced do not need any description to understand this crash. But if you are new then it must be something heart breaking. You may have heard many people saying "Cryptos are dead", "You must take your money out when you can", "It's all over".
Please do not listen to them
They don't have any proof or some fake proof to prove crypto's are dead. Here are proof they use and may make you take your money out;
- This all crypto things is like dotcome bubble and now it's the time to burst.
- Regulations will kill everything
- Governments will kill this
- This market is too much volatile to be used
- Crypto's thing are too much complicated for normal people to use
- Who buys goods with 0.0001 bitcoins, it does not sound practical
And if you are new to crypto then you must be like, "Oh! they are true"
Let us first talk about this dotcome bubble thing. Dotcome was amazing but it crashed but this cryptos thing is a lot more different than dotcome bubble. Cryptocurrencies are here to solve the major problem people are facing due to banks and government. Even if bitcoin is similar to dotcome then don't worry we are not even close to where the bubble burst. It needs at least a $100,000 per bitcoin to reach a bubble tip level.\
Regulations will not kill cryptocurrencies but it will make it more safe to use for us. It won't be like fiat money even if government regulates it. The speed of cryptocurrencies is not going to decrease due to regulations, privacy coins will still be untraceable and it is one of the main goal of cryptocurreny.
Governments don't have any control over bitcoins and cryptocurrencies. What they can only do is, is to make coinbase and other fiat to bitcoin gateway regularized. That's only what they can do and maybe can take tax in that same transaction.
Complaining the volatility of market is stupid! This market is volatile because the market cap is very very low as compared to where can it be. Bitcoin is less volatile than other cryptos because it has the highest market cap. Suppose the market cap of bitcoin reaches 5 trillion then a market loss of couple of hundred billion won't make a major difference in price. The volatility will be controlled eventually.
Cryptos things are complicated only for illiterate people. Even if all the people well known in technology buy bitcoin then bitcoin price will easily surpass a million dollar per bitcoin. Many new minds are developing into the crypto market trying to make buying, selling and transferring cryptos easier. Coins like Ethos are trying to bring normal people in cryptocurrency.
You must not use 0.0001 bitcoin to buy, you can use satoshi term. Or bitcoin may be taken as digital gold. You will not buy your daily requirements with gold.
One thing what you need to know is there are many people and organization trying to kill bitcoins and other cryptocurrency. They can do anything to kill it and are creating FUD to kill it. This sorts of minor price moving down must be taken as a correction not a crash. We have seen bigger correction in September after which the cryptocurrencies skyrocketed in price. There are whales community crashing bitcoin just to make newbies afraid and decrease the price rapidly which creates a buying opportunity for them. When they decide to buy again the price will move up and only thing you can do is regret.
Cryptos are still yet to become mainstream in many countries, specially in developing countries, for your prospective in my country (Nepal) still 99% people don't know anything about bitcoin. Still many people in this world don't know the awesome technology behind bitcoin and other altcoins. What most of the people know about cryptocurrecies is bitcoin and ethereum. They don't know monero, steem, civic, ethos and other coins. When people will realize the true technological power behind the blockchain community then the price will skyrocket.
More than what you can imagine !
So take this crash as a buying opportunity and strengthen your crypto portfolio and see the happiness running behind you!
This is only my suggestion, not any financial advise. Do your own research on every topic discussed above and decide yourself to buy or to sell.