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RE: Bitcoin Weekly Analysis - Up An Unbelievable 43,4% - So, What Happens Now?
I think it's clear that Bitcoin has quite a future. The fact that it can fully rebound from such large drops shows that it has real value and a growing following. It's always a nerve-wracking time when trading rates drop such a large amount, but if you bought into Bitcoin because you think it has a bright future, it's best to have faith in the longer-term outlook and ride the wave. There's still so much potential upside.
Thanks for your insight, very well put.
As an investor, Bitcoin is an amazing long term hold but you have to realize that high volatility is part of the game, especially now when Bitcoin is relativitely small compared to major fiat currencies. That will decrease later on, but probably not in the next 1-2 years.
I agree, we're certainly in for more of the same volatility in the near-term, but on an upward trajectory. I think Bitcoin is big enough now though to avoid some of the unpredictable spikes and crashes of the past, the likes of which we sometimes see now with newer coins.