First, let me start by clarifying that the current Bitcoin price crash is normal. There is nothing fundamentally wrong with the currency. These are just typical market forces, and they will stabilize soon. There is absolutely no reason for panic. So why should investors keep holding on to the currency? Well, here are the reasons why…
When Bitcoin passed $19,850 mid-December 2017, most analysts were not sure the direction that the currency would take. Unfortunately, the value started pulling back. What has gotten most investors worried is the more than 60% price slump that happened in the last one month to sell below $6,000. Does this mean that the currency is losing its value? Well, the answer is a big NO.
This will not be the first time the currency is experiencing such a drop. The coin has been experiencing pullbacks and recoveries along the way, and every time the comeback is always stronger. Expect the coming one to be a surprising one.
If you have noticed, the currency is bouncing back in the last one week. During the time of writing this article, the price was at $8228.00. This shows that the coin is stabilizing and recovering rather quickly than most investors would have imagined. With this upward trend, we expect the current to get back to $10,000 is a few days or weeks.
Therefore, investors should not panic from the current state of Bitcoin. The market is very positive and with the prediction that the currency could hit above $50 mid-2018. According to the analysts, the cryptocurrency is expected to recover from the current slump and come out stronger than before. According to Kay Van-Petersen, the analyst who predicted in December 2016 that Bitcoin would hit $2,000 in 2018, he believes that Bitcoin will hit $100,000 in 2018.
A good number of reputable analysts have also shared the same opinion. That’s one PRIME reason why investors should not panic at all. It is just a temporary pullback. The technology and the concept remain the same, and there is nothing fundamentally wrong with the currency. With this year’s predictions, the slump presents a window of opportunity for the investors to buy as many coins as they can. Trust me it will pay back handsomely few months down the line.
Don’t pay too much attention to the few pessimists in the name of analysts. Cryptocurrencies with Bitcoin leading the pack is the future. The value is expected to increase significantly in the next few months. The slump provides the perfect opportunity for smart investors to buy more coins.