If you are into cryptocurrency, the first quarter of 2018 has been kind of a downer. At the end of December, the total market capitalization of cryptocurrency was worth a over $820 billion. However, by February 6th, this had dropped all the way down to $279 billion.
It doesn't take a genius to see that the cryptocurrency market has been a bear one. To add insult to injury, the mainstream media has been churning out so much FUD that the entire community is feeling uncertain. The dumb money is leaving the market and speculators are on the sidelines waiting for the perfect time to buy in. There is always a further depth to sink to, after all. Even so, more and more people are becoming bearish about cryptocurrencies and even crypto bulls, particularly the ones that were late to the party, are wondering if we’re witnessing the death of crypto.
But the truth is we are just at the beginning.
Bitcoin is going to make a HUGE comeback and reach new all time highs before we even know it.
How can I make such a bold statement?
As you can see things are looking really bad. We can clearly follow the Bitcoin price as it experiences a huge run up before completely crashing down to dismal levels. It looks really bad on paper, and I really do feel for those poor investors who bought high.
But this chart isn't from the recent Bitcoin crash in 2018. In fact, if you look again, you can see that this Bitcoin crash happened back in 2011. This happened after Bitcoin price went from $0.06 allll the way up to $30 before crashing down to $2. And during this time, the media was screaming "I told you the bubble was going to pop!" More and more people instantly became bearish about Bitcoin. Even crypto bulls, particularly the ones that were late to the party, were wondering if they were witnessing the early death of crypto.
After all it was just digital money with no real value right?
And of course the MSM was right there to spread the FUD. For example, this 2011 article from the economist published this article titled "The Bursting of the Bitcoin Bubble". The article was meant to rub it in the faces of Bitcoin supporters and make them feel stupid for believing in an alternative to the current corrupt financial system.
And all the people who were calling it a bubble were now saying "I told you so".
More and more people instantly became bearish about Bitcoin. Even crypto bulls, particularly the ones that were late to the party, were wondering if they were witnessing the early death of crypto.
We have lived through numerous Bitcoin crashes. If you were in Bitcoin back in 2011, 2013 or 2015 and you had panic sold your BTC, when it was at a low, you missed out on an opportunity of a lifetime. Let's say that you had 20 bitcoins back in 2015 when bitcoin was at $1,000. You had $20,000 worth of BTC. If you had sold on the way down you may have gotten out with 10k or less. However, if you had held and stuck it out through the storm, your 20 bitcoins would have been worth nearly $400,000 just three years later when Bitcoin reached 20k.
Bitcoin isn't going anywhere. This technology is here to stay and Bitcoin has a bright future ahead of it. As more and more people realize its potential, the demand will increase and because there is a fixed supply, the value will continue to increase exponentially.
