You have already seen how the bitcoin’s price behaves. It can fluctuate and rush down in a matter of hours but then it can shoot up and reach all-time highs in also just hours or days. This is not something new and unexpected when we talk about bitcoin. This has been going on since the very beginning of its creation.
In 2013, Bitcoin went from $125 to $ 1,150 in just a month. Again in 2017, it started at $1.000 and reached almost $20.000 by the end of the year. So we guess the history repeats itself.
People, who have been here since the very beginning, don’t take these kinds of fluctuations too seriously since their goal isn’t to make easy, fast money. Others thought it was a great opportunity to invest immediately and some even took credits to invest or simply they put their entire life savings just to find out the hard way how bitcoin behaves for years.
When they see how the price goes down, the entire community all of sudden becomes negative. This also creates strong movements on the market and brings to a massive drop in the price.
This is why it is best to be focused on working to keep the price stable and invest only in the long run. Don’t always see the price fluctuations as a bad thing. You already saw what bitcoin can do. Use the down cycles for building a stronger foundation so you can gain in the next growth cycle.
Don’t forget, when first time investing, make sure you understand how this technology works and be prepared to take a risk.
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