One of the hot topics of conversation over the past few days has been the huge price drop that has been experienced by bitcoin. The value of a bitcoin is now as low as it has been in over six months. Many people who have invested very large sums of money in bitcoin are justifiably concerned if it will ever reach its previous heights of over $10,000. There are some people who are very optimistic. However, there are a few experts who believe that the worst days for bitcoin are yet to come. Only time will tell which of these people are correct.
Bitcoin has not been trending very well for a long time. There are a wide variety of reasons why the value of bitcoin has gone into the tank over the past six months. Investors have been shying away from pouring their money into bitcoin when it is now at its lowest point in six months. That is a clear sign that these investors feels that we have not seen the lowest that bitcoin can go. Many people will lose a fortune if the drop to $2,500 does come to pass. According to cointelegraph.com, this is the number that some people are predicting that bitcoin could drop to sooner rather than later. It would be devastating to bitcoin investors all over the world if the price were to drop that low.
The truth is that nobody knows for sure what bitcoin is going to be worth in the future. This includes all of the experts who follow it every day of their lives. It is a very volatile and unpredictable form of currency. The risks in investing in it are huge. However, there are still a lot of people who are sitting pretty. These people bought bitcoin when it was only worth $3,000. It is still worth well over twice as much as that total right now. Therefore, these people can sell their bitcoins and still make a very big profit.
Investors need to be more cautious than ever before when buying bitcoin. Just understand that they are buying a currency that has shown to fluctuate in price wildly. Therefore, investors must not sell at the first sign of trouble. There are some big bitcoin investors who have said that they are ready to ride out any storm. They will simply not sell their bitcoin. They will hold onto it because they are sure the price will rebound
Dil Bole Oberoi
