The price of Bitcoin and Ethereum went down. BTC/USD holders will be able to take advantage of this performance and make some decent gains because this trend is not going to last for long. For now, yes, Bitcoin is falling, but it will regain soon.
Sydney Ifergan, the crypto expert, tweeted: “This is time to make some epic buying of Bitcoin (BTC). The price is falling. Those who have accumulated during the fall in the past know how it works.”
Many are buying today, yet others are waiting for the price to fall even deep down.
Of course, some critics continue to state that the price will go worse down until $1,000. And, they are looking at the current decline as an opportunity to name-call those analysts who named a good price uptrend for Bitcoin.
That just means there is a lot of action happening in the market. Those who already invested in Bitcoin are either trying to hold on, and yet others are trying to sell and earn a run for their money. There are those with improved premonition trying to invest in Bitcoin. Mixed emotions and sentiments are brewing in the market.
The overall decline in the price of the Bitcoin and Ethereum is considered to be a reflection of the global turmoil. De-risking is seen in all sectors of the asset markets. Bitcoin, Ethereum, and a bandwagon of Altcoins are not immune to the recent de-risking trend in the market.
The current decline is attributed to the coronavirus panic. In reality, no one thought that it would influence the price so much, but it has outright happened, and it is visible in the price charts.
However, those who have been riding with bitcoin for several years now know that this is the right time to buy, and they encourage investing. They are sure that it will rise back up. At the moment, many people doubt if it is a store of value, and they are apprehensive that it is not a store of value. These kinds of feelings happen with everyone when something does not work outright.
A lot of other unpopular opinions are also doing the rounds. Some state that it is important to stick to one’s strategy. At the time of reporting, the price of the Bitcoin was trending at 6047.3 USD.
Steven is an explorer by heart – both in the physical and the digital realm. A traveler, Steven continues to visit new places throughout the year in the physical world, while in the digital realm has been instrumental in a number of Kickstarter projects. Technology attracts Steven and through his business acumen has gained financial profits as well as fame in his business niche. Send a tip to: 0x200294f120Cd883DE8f565a5D0C9a1EE4FB1b4E9
Get the latest Crypto & Blockchain News in your inbox.
