Over the past few days the price of Bitcoins have dipped considerably and just like any dip period the amount of FUD is high and a lot of people believe that this is the beginning of the End for Bitcoin
When the Dip started a lot of people felt that Bitcoin Cash would rise up to the occasion and with Coinbase listing Bitcoin Cash, there was a considerable movement in the DIrection of Bitcoin Cash. However the Price of Bitcoin Cash have also dipped considerably over the past few Hours
The amount of Money that have left the Cryptocurrency market over the last two days in at the tune of over $120 Billion Dollars. It is believed however that this cashing out is mostly being done by those who bought at lower prices.
The downward trend in the price of Bitcoin however have been very disheartning for Noobs, especially those who bought at $19,000+. Simply telling them to hold is not helping matters.
The Media has also not helped matters, they have utilized this opportunity to tell everyone of how bad Bitcoin is and how dangerous it is to put your Money in it
Some parties believe that John McAffe is partly responsible for the dump. He started a Cryptocurrency evaluation series on his Twitter page this week. Where he reccomends good Blockchain projects to Invest in. The recent surge in the Price of Electroneum (ETN) a coin he reccommended recently had led many to listen to pay attention to him
Those who have been in the Crypto Space for a while now know that this is the best time to Hold and if possible buy more Bitcoins. The Bear Market is an opportunity to Invest more, it is also an opportunity for those who missed the lower price levels period of Bitcoin to Invest
This time is however a very trying period for Noobs who bought at the high price of $19,000+, Below is a tweet a drooped by a Bitcoin Investor on Twitter
I took out a $75000 mortgage, put it all in Bitcoin (at $19,422) and right now I have $48,639 left!!! DO I SELL OR KEEP HOLDING
He was advised to hold his Bitcoins, some people gave him a run down of previous Bitcoin dumps with complete with Charts
He later replied that he could not risk it due to his Children. He sold off all his Bitcoins
The lack of faith in Bitcoin is very shocking, It only takes a simple research for you to discover that Bitcoin has been through a lot and that the only way for it to die is if the Internet is shut down world wide at the same time, and last time I checked that it is not possible
To futher buttress my point, this is a tweet dropped by Robert Reid on Twitter
Bitcoin has "crashed" 30% SIX TIMES in 2017. Each "Crash" has been followed by an increase of : 76%, 237%, 183%,165%,152%.
Bitcoin takes 7 steps forward, 2 steps back, 7 steps forward, 2 step back.
Every 2 step back is heralded as the end of #bitcoin. Relax
He went on to use this Chart to illustrate his claims
