You are viewing a single comment's thread from:
RE: What happens next Bitcoin price action?
Bitcoin hasnt really lost its value. What has happened is that everyone in china is selling them. China selling them is causing a lot of people to sell them in panic (never invest more than you can afford to lose), and investors are pushing offers to only buy them for the lowest amount. On the other hand, relatively sane persons such as myself wont sell any waiting for the prices to rise, Bitcoin will deffinitively recover its original value, but i cant tell you how much it will take.
This isnt even taking into account the fact that difficulty keeps increasing.
Agree with you there, people panic selling below $5000. Lots who got in earlier were sitting on good profits anyway. Could still go lower I think, perhaps test the mid $3000s before it recovers and reaches another all time high. Bitcoin keeps coming back stronger after each drop.