I'm not an expert on #Bitcoin but I have been carefully observing the price for about 2 years and I want to share some of my observations with you, in case you may happen be nervous about the current lower #Bitcoin price right now or even in the future. My observations may help you to breathe, relax, and #HODL (Hold On for Dear Life).
My Observations
I have observed that whenever the price of #Bitcoin goes down by any significant amount, the media and most bloggers call it a "CRASH". Then before long there market recovers to a reasonable pricing level. That cycle just keeps repeating and yet the overused word "Crash" continues to show up. I've noticed that typically by the time many of the 'doom and gloom style' articles are published or posted, the #Bitcoin price has already recovered!
I have observed that many of the articles, blog posts, and videos that are largely negative towards #Bitcoin, were common in 2016 and then less common in 2017. I suspect that there will be even less negative coverage in 2018 than there was in 2017. Yet I have noticed that when the negative spin is put on the information presented, they tend to omit the bigger picture view that includes the very positive facts about how much of an INCREASE in the price that had taken place over the previous 6 to 12 months.
I have observed that "not knowing what they are talking about" does NOT keep people from posting their opinions, as if their opinions are factual. I've noticed that the same applies to main stream media reports and high profile wealthy individuals in banking and business. I find it particularly disappointing when a journalist publishes information without doing the proper research and yet I see that happening more and more as time goes on.
I have observed that quite a few billionaires have a very high opinion of #Bitcoin and that they are quite prolific in their sharing those opinions. A short list of those billionaires notably includes:
Bill Gates: (Needs no introduction...lol)
Richard Branson: Owner of Virgin Airlines
Chamath Palihapitiya: Venture Capitalist, original Facebook Executive, current Owner of the World Champion NBA Team The Golden State Warriors, (1st speaker on the video below.)
Tim Draper: Venture Capitalist & Founder Draper Fisher Jurvetson, "also the founder of Draper Associates and Draper University." http://wikipedia.org
John McCafee: Computer Programmer, Businessman, and outrageous human being... LOL
Hear what most of them had to say in the following short 4 minute video:
Video Source: YouTube
- I have observed that in life, it is wise to review both sides of things before coming to a conclusion and that it requires "active thought" to come to an intelligent conclusion. I have noticed that a significant number of very wealthy people are bullish on #Bitcoin and that a significant number of outspoken people of modest means are bearish on #Bitcoin. I am not drawing any conclusion here, but I am suggesting that you consider my observations and take the time to make your own observations, so you can draw your own informed conclusion. In the meantime, consider the fact that many experts who are probably smarter than myself,, as well as most people reading this, are predicting MASSIVE increases in the #Bitcoin price in 2018, 2019, and beyond.
Keep in mind that #Bitcoin is only 1 of over 1500 #cryptocurrencies, including tokens, that are currently in the #cryptocurrency space yet #Bitcoin continues to lead the pack by a very large margin. That number seems to be increasing daily, or at least nearly so. In fact #Compumatrix is also bringing new #cryptocurrency to life within the lesser known #bitshares platform. My observations of #Compumatrix #supported #cryptocurrencies, such as #BTCCORE, #ECASH, #BTCPLUS, #Cryptoceeds, and #Compuceeds, that are all on the #Bitshares DEX, have created a new level of excitement for the entire #Compumatrix Member Community.
Visit these links to find out more about #compumatrix today:
http://compumatrix.com, http://compumatrix.us.com and http://compumatrix.co
You can subscribe to http://bitsharesmagazine.com/#/ and http://compumatrix.today/#/ for even more information on the #compumatrix #community, #business, and #cryptocurrencies.
My point being that #Bitcoin and #blockchain technology are digging deeply in to the very fabric of the fiat currency based financial universe and that trend seems to represent an evolution from what things are into what they will become. With that being said, I hope that you will find your way to relaxing, taking some deep breaths and becoming comfortable with the long term practice of #HODL.