I have seen people talking about Bitcoin and other crypto-currencies’ prices lately and many people are saying things like “Wow, that’s a dip, I lost too much money” while you won’t be hearing the same words from a person who were in this business for a long time. Well, it is a dip obviously, losing more than 50% of the value should be considered as a crash. However, does it really mean that the crypto is dying? Or the currency has lost it’s hype? Lets look at that together.
As an example I’ll be giving you an info-graphic where you can see the historical dips of Bitcoin and understand that our situation is not much different from those dips. However, this time we have different things should be considered which I'll be talking about after we check the graph.
As you can see, in the history, bitcoin had many crashes like the one we're having right now and in the long run, it always recovered. However, most of the humans had no idea about bitcoin and other crypto-currencies and they were not interested in the technology. So we have never seen news about the price crash, except on related subreddits and some crypto related websites. It was impossible to see anyone mentioning bitcoin or any other coin on the TV or radio, or a famous person on their twitter account.
However, at the point we are in right now, crypto currencies have evolved and right now most of the people who have access to internet has at least a little idea about what is Bitcoin. We should be considering this as a profit. Last three months of the 2017 was the crypto-hype time for many people. Crypto currencies started getting known by individuals and many wanted to give it a shot investing small amounts. That led the prices to increase in huge rates, like 30% profit a day. Of course this wasn't going to go for ever and at one point people started taking their profit and the rest who bought at the ATH prices are now having trouble.
If you have bought at the ATH prices, I'm sorry to say that you might need to wait a bit longer than the rest of us to make some profit. But for the rest of us, the prices right now we have are way more better than what were the prices one year ago.
Exactly one year ago BTC was trading around 1000USD and now trading at 8300USD which is x8.3 times.
ETH was trading just at 41USD and now it's value is around 600USD which is approximately x15 times.
And ripple, it was just 0.0065USD, not even a penny, and now it trades around 0.70USD which is roughly x110 times.
So as you see, if you stay long enough in the crypto market and if you are believing the project, whatever happens in the short term won't be effecting your long term gains. Yes, if you have sold your coins at the ATH, you could make good profit but that doesn't mean we will not have any more ATH in the future. You don't lose anything till you sell your crypto assets. If you have been holding 1 BTC, you are still holding 1 BTC. I think this is just a correction and people who were hyped just left the market and now we're back at where we were, with better prices and increased public awareness.
I hope in near future we will see some good project based on this technology and we can enjoy making some profits!