Bitcoin Price is Down But Hopes Of Some Traders Are Still High
Bitcoin price is dropping each hour each minute and each second because some investors got panicked when rumors of ban in South Korea and India were spreading very quickly. Now the traders are loosing more and more confidence as the price is going down but still there are some traders who have logical reasons to think that bitcoin price will increase again.
Please God people - get a perspective about the market! The price of Bitcoin today is still higher than it was just three months ago! In a long term view, Bicoin is still climbing. Forget about these short term ups and downs. If you are a short term investor, you need to get real
— John McAfee (@officialmcafee) February 4, 2018
John Mcafee Who is Involved in cryptocurrency for very long time is not upset about the crash in price of bitcoin but according to him if we look at things in larger perspective we will notice that these ups and downs however large in percentage but these are short term ups and downs and we are still in a good position if wee look at overall graph of the bitcoin price.
Worried that the market is crashing? Bear in mind that today we are at a market cap of $400bn and that the first time the crypto market hit $400bn was 6 December. So we are back at levels from 2 months ago. The market cap is also up 20x since this time last year.
— Ran Neuner (@cryptomanran) February 4, 2018
Similarly Ran Neuner has also logical reason that the market cap is still 20 times of what it was in the starting of last year so the future still looks bright for bitcoin.
Most investors I feel like are brand new. They see a loss of $400 and they pull out. They don't know what #HODL means. They rather take a loss then wait for the correction. But I will say this the dip to $7,500 even had me a bit worried. But I know in about a month or so the sea will be green and not red. I have hope
Just look at the log level chart of the total market cap over the last year. Still well in line with historical growth!!!
Made a post about it if you want to read more https://steemit.com/cryptocurrency/@alvalvaro/crypto-bubble-burst-where
Still an uptrend! Which is what I like to see!
During Bitcoin’s climactic bull run into December, South Korean exchanges were trading Bitcoin at prices nearly 50 percent higher than most exchanges around the world. This eventually led to Coinmarketcap removing some Korean exchanges due to the extreme divergence in prices from the rest of the world and limited arbitrage opportunity.
Positive news on crypto world.. UNICEF has asked gamers to mine and donate Ethereum to help the children of Syria. Pertaining to bitcoin, I could remember that the price of bitcoin last year wasn't high as it is today.. Let's be hopeful, the future is bright
Stay calm and just ride the wave down until buying comes back. Dollar Cost Averaging into the core positions will help in the long term.