Bitcoin has been through worse declines...
The cryptocurrency market was the absolute winner of 2017. Against almost all expectations, the digital coins managed to reach record after record. At the end of 2017, Bitcoin almost reached the limit of $ 20,000. Yet it has since gone downhill.
As most of you know Bitcoin even managed to fall below $ 6,000 in recent weeks, that was a bit of a shock for all crypto hodlers. Nevertheless, most of the cryptocurrency investors do not seem to be particularly impressed by the recent decline. The investors who have more experience in the cryptocurrency sector have already been faced with more intense crashes.
At the moment we are are going back up as Bitcoin resistance of $9,000 broke today, next resistance is probably around 10k but the bulltrend (maybe temporary) seems to be confirmed.
Bitcoin investors are not very concerned
The illustration below from MarketWatch shows that Bitcoin has experienced larger declines in the past. For example:
- The largest digital currency in the world lost 87% of its value in the period from November 2013 to January 2015
- In 2013 Bitcoin was confronted with a correction of 83% in only 5 days!
In addition, most Bitcoin investors use the HODL method (awesome cryptocurrency community). Simply put, this term means that you do not sell the cryptocurrency as long as you are on loss. With this in mind it makes sense cryptocurrency investors are more steadfast than most ordinary investors!
IS IT BULL & MOON TIME?
BTC = $ 10k tomorrow, easy!
Thank you for reading.
Feel free to upvote, comment, resteem and/or follow my blog @maxdigi if you liked this post. I greatly appreciate your support!
Cheers,
MAXIDIGI
I like your content its very informative.
I agree about bitcoin heading back up. It was just a market correction because of the ridiculous gains in late 2017. I think the 'weak hands' have dropped out of the market now.
Will be interesting to see where the next few months goes with crytocurrency but i can see a steady increase
I think we are on the same wavelength then, Bitcoin will probably continue to go up but it might be a bumpy ride and yes I like how you put it there I also think most "weak hands" are gone, HODL protects crypto! Thanks for the compliment btw. :)
I have invested in quiet a few cryptos but Ive stayed clear from bitcoin. "The Intelligent Investor" by Benjamin Graham lists a few fundamentals that investors should look for. Bitcoin misses a lot. For example he makes it clear to have intimate knowledge of the team behind the investment, which we not 100% clear on. That is unless we treat it as a commodity and not a technology.
That is an interesting argument, indeed the founder of Bitcoin is Satoshi Nakamoto but nobody knows who this person is, he might be dead already lol nobody knows!
Anyway the whole market is tied to Bitcoin so I find it hard to believe Bitcoin is a scam, if Bitcoin is a scam, crypto will crash hard lol
It just cant go wrong!
I'm hoping for something like this lol
I never knew that history about bitcoin. WOW 87 percent. I bet they were saying the bubble had popped back then.
Indeed imagine being a HODLer in that time! RIP lol
You got a 2.30% upvote from @adriatik courtesy of @maxdigi!
Thank you so much for the information, it'll do me a lot of good. I didn't know many things about the HODL method in particular. Good publication.
Thanks, if you have questions feel free to ask x
This post has received a 1.92 % upvote, thanks to: @maxdigi.
informative.....u got my vote......cheers mate
Thanks man! Hope to see you soon again
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