Bitcoin Hits 2018-Low: Is The Bull Dead?

To the naysayers, it’s a big and jubilant news. Bitcoin price has hit its 2018-lowest value at $5,825 as of June 23rd. And the icing on the top is the fact, in the bear market now with a revived downward trend, where this price is heading. If analysts and market pundits are to be believed, this plunge will continue in the coming days for even a bigger drop that can test a crucial hold of $2,500. If that happens, the majority of investors and traders are in for huge losses, regardless of their risk management and strategies. For more info about Bitcoin visit this link.

So, the major question right now is what’s really going on? What’s up with the bulls?

Why, after touching the $20,000 mark (on few exchanges) last December 2017 and showing investors big dreams of $50,000, has the Bitcoin market taken a complete 360?

Are the bulls dead?

Well, there isn’t any clear answer to these questions. While some doubt it to be a crash, there are people who still call it a correction. In fact, if you look historically, this correction is almost identical to the 2014 scenario. In 2014, too, after trading at an all-time high, BTC priced dipped by 80 percent. If we learned anything from that time, it is:

•Bitcoin isn’t some magical pot whose value will only climb higher.

•Retail investors, not literate about the market, always bring FUD.

•There will always be people being bullish and skeptical.

•Bitcoin will always rebound and surprise the mainstream media who have already written its obituaries countless times.

Certainly, the current correction – a major one at that – is bound to stir a paranoia among the investors; more so for those on the edges, who entered the market to make some “quick bucks”. And the current stance of governments and central banks of major economies, in terms of (choking) regulation, is sure to trigger more fear, uncertainty, and doubt.

However, if you really understand the Blockchain technology and its sustainability, as well as if you’re a visionary yourself, your opinions would be reserved for the long term. Such hyped cryptocurrency news wouldn’t really hurt your own strategies. In fact, if anything, they would push you to take a better approach. Like, for example, smart investors, to diversify their risks and boost portfolio, are already betting on crypto index funds. If you’re in the same league, you would choose a better index family and invest there, trust Bitcoin to bounce back stronger and just relax with a soda in your hand.

Bitcoin isn’t dead and neither are the bulls. Many other Cryptocurrencies are rising to the occasion too. Bitcoin is trading below $6000 now. It may even touch the $3000 mark. But in the long run, it will rise. And so will the other cryptos. Yes, as clichéd as it may sound, it’s true— BUY THE DIP! For more info about Bitcoin visit this link.

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