During the previous 24 hours, BTC has gone down almost 13% which equals to 1500€ or $1650. After hitting it's peak value, BTC has been going steadily downhill. Is this just a bubble bursting and BTC normalizing or is it losing it's value completely? Should you be worried about this?
No.
Will BTC return back to it's glorious 20k USD value?
Most likely not.
Now, if you invested in Bitcoin during the past month or so, you're propably worried about losing money. Unfortunately, that's most likely the case. Then again, you were late on the BTC train so you can't really blame anyone else. If you haven't sold your BTC yet, I'm not sure if you even should. BTC could go up in value again and maybe reach like 12k but if you invested at a higher price point I don't think you'll be winning any money any time soon.
January has always been a low point in crypto value due to people needing some extra cash after the holidays so they're selling some of their assets. But that can't be the only reason behind a dip like this, can it?
Most likely not. The most propably reason for this dip is the increasing fear of governments in Asia and around the world cracking down on crypto, potentially forcing exchanges to shut down. Crypto has massively increased in popularity over the past year and that of course lured in hordes of less dedicated users, who are now abandoning the possibly sinking ship.
I don't think that governments will permanently kill crypto, and this normalisation in it's value can lead to the revival of the oh so flooded BTC network and drop the fees back to humane levels, enabling the usage of BTC in even more places through bitpay and the likes. Hell, maybe Steam will go back to accepting BTC payments if things calm down.
What are your thoughts? Are you worried about losing your hard earned or invested money? Do you still have faith in crypto? Reply below!
