Hello friends, thank you very much for your questions and reading my posts.
I know lot of people are panic and selling bitcoin and other alt coins. Because they lose their interest and want a quick return on investment. As I said before bitcoin launch in 2008 but still it is evolving. It is going through process of evolution and making history.
Let me tell you a little bit more about bitcoin price hype and down trends. I just wanted to share some statistics with you.
Look Bitcoin price in 02-Nov-2013 was $207.12 and then bitcoin hit 1149.14 in 30-Nov-2013. Look in a month bitcoin price soaring more than 500%. And people who bought it at low price are very happy.
But what happened after that, 19-Dec-2013 bitcoin price dropped to $560.15. See its about 50% dropped in prices in a single month.
Every time price going high, it has to come down and settle and make corrections and then again start going up. This is the trend which bitcoin have and investors or hodlers of bitcoin knows about it. That's why people who are doing long term investment in bitcoin getting amazing returns. As you know bitcoin hit $18000 by the end of 2017. And now its price down to $7000. Just have patience and invest only what you can lose and think long term about it.
Have questions ask in comment section, thank you.
I am not a financial adviser, all information involves historical analysis and my personal experience. Make your own research before investing in cryptocurrencies.
Image credit: cnbc.com
