Being involved in Bitcoin means neglecting short-term changes and inconsistencies. Anyone who has followed this cryptocurrency for multiple years knows that unwritten rule all too well. The Bitcoin price is always subject to criticism and speculation. Even so, the overall trend is still extremely bullish.
The Prices Are Just Fine!
Many people are spoiled when it comes to the Bitcoin price. Last year was extraordinarily bullish and borderline ridiculous. With a meteoric rise in value from under $1,000 to nearly $20,000. It became evident the “bubble” was quite real. Even so, the hype has calmed down as of right now, or so it would seem.
Most people tend to look at the bitcoin prices in a short time frame. But unfortunately, the cost of BTC had dropped dramatically compared to late Dec 2017. It was entirely expected and will benefit the Bitcoin market in the long run. Spectacular gains are always suspicious, especially in the world of cryptocurrency.
Some experts try to remain uber bullish and say that we will see a BTC price of $25,000 soon. While others predict half a million for a BTC by 2020. All these predictions might be correct or downright wrong. But the price of BTC will evolve in any direction, that is much guaranteed.
Judging The Prices Is An Art!
Judging the prices of BTC from a long-term perspective, everything is fine. Yesteryear the price of BTC was only one-seventh of what is now. Compared to three years it is still up by 3,500%.
The CEO of Binance had posted a chart history of BTC on his Twitter.
Bitcoin price history. pic.twitter.com/sC3zCcp379
— CZ (@cz_binance) March 31, 2018
It is evident this uptrend will be broken at some point. Perhaps 2018 will be a buffer year to refuel the rocket to the moon. Only time will tell how this plays out. Those who genuinely believe Bitcoin will succeed couldn’t care less about this current dip.
Market shifts occur every year and tend to get quite volatile. Bitcoin survived a 99% price retrace in the first two years and came out just fine.
During times like these, people tend to forget how far Bitcoin has come. From a technical perspective, it is only just getting started. That means we have to deal with all the ups and downs that occur in the field.