Bitcoin value plunges to $12,560 from Sunday's record $19,666: Should you be worried?

Sunday, 17th Dec., Bitcoin hit a record high $19,666. Today 22nd Dec., 2017, it plunged to $12,560, averagely a 36% fall, and thus, value loss of one-third, on Bitstamp cryptocurrency exchange.

The question is; should you be worried?

Apparently yes. Bitcoin hit the record $19,666 on Sunday when Exchange Giant, CME group launched bitcoin futurs. Before that however, that was in November, it had plunged to $5,555 from $7,888 in only 4 days. Prior to that in September it had tumbled by 40 percent, to $2,972 from $4,979.

Adding to the uncertainty, central banks have been, and still continue to ring alarm bells. Early this week, the central bank of Singapor warned citizens against investing in cryptocurrencies, arguing that Bitcoins surge was merely driven by speculation and that the risk of drastic and heavy falls was very many.

South Korea for its part even went farther by saying that it did not consider Bitcoin and other Cryptos to be currencies at all.

Taro Aso, Japanese financial minister also voiced his worries, saying Bitcoin has not been proven as a credible currency.

So should Crypto enthusiast like me be worried. I think the answer to that is common sense. In fact. The question itself is unnecessary. It is like asking whether or not you should worry about becoming hungry tomorrow.

The truth is currency values fluctuate. The dollar fluctuates, the shilling fluctuates, the Euro fluctuates, the Yen fluctuates, the pound fluctuates……

To ask whether or not one should worry over bitcoins recent fluctuations is like asking whether or not Japanese should ditch the Yen when it fluctuates! Or the British with the Pound….

Even so, despite the routine drops, bitcoin has on average risen more than it has fallen. And I still believe. Yes, I still believe that cryptocurrency is the future, the stellar currency against which other currencies, including the dollar, will soon be rated against.

So if you are having your mind swinging here and there in the flurry of opinions from detractors, i suggest you steady back, and hold tight to your bitcoins. The future has just started.

And just to inspire you, a bit of Max Lucado’s wisdom: A man who wants to lead the Orchestra must turn his back on the crowd!! A man who wants to lead the orchestra must turn his back on the crowd.

i