19 May 2021 is considered to be the Black Wednesday for cryptocurrency. The bitcoin prices were falling significantly for the past few weeks, and now, the price has decreased up to 30% from $43,000-$31,000. The bitcoin prices are far from the all-time high price, which was more than $63,000 at which it was standing in the last month. Bitcoin has lost 27% of its value in the last week, and now, it is the all-time lowest price of bitcoin after its hike in the market, which is near about 30%.
Although, in the beginning, when bitcoin prices started declining, and unrest was created among the bitcoin holders. On the contrary, many crypto investors are neutral about this fall in the prices of bitcoin. Many people were optimistic regarding the bitcoin price fall and therefore, they make sure the people who are panic that bitcoin prices will not remain at the same low as it is right now. Due to this, the unrest was settled among a lot of crypto investors, and therefore, they have a trust factor associated with bitcoin even if the prices are going lower and lower.
Many optimistic believers posted that inflation is nothing else but just a small problem that every asset will always face. It will not stay for long, and there is nothing to be concerned about bitcoin because it will be fine real soon. Also, some people are storing their bitcoins in cold storage wallets. A cold storage wallet is a hard drive where the bitcoins are stored in the form of keys, and they are considered to be buried under the concrete. Such people have a very common and optimistic mindset regarding bitcoin prices and believe that there will definitely be a huge hike in bitcoin prices in the future. Therefore, they do not even think about selling it. For more information regarding bitcoin trading, you can visit the Cryptolina website.
Even though many people are optimistic regarding bitcoins, it is not the right time for cryptocurrency investors. It is just speculation that prices will go higher in the future, but you can never be sure about it. When the bitcoin reached its epic highest price, which was more than $63,000, it has been sliding down since the last month. It has been lower by 27% in its value from the last week.
As the bitcoin prices have been facing vulnerability in the past, the positive believers of cryptocurrency trading think that it is definitely as unstable as it is and will always face manipulation and volatility in its prices. It’s someone who believes that selling their bitcoins when their price is going down; he is no less than a fool. Also, as bitcoin is a cryptocurrency and believed to shape the future of the technology, the fans of bitcoin believe that it is inevitable to remove bitcoin from the economy of different nations. It is being adopted by almost every nation across the globe, and therefore, its impact is not possible to be reversed.
Although the tech giant Tesla owner has turned again the bitcoin that is used to accept for its newly designed weekends, even if the Chinese government is turning its back on the cryptocurrency market by limitation on the use of bitcoins in the financial system, the bitcoin will again come to the full period. It is not just an optimistic view, but this is a futuristic point of view towards bitcoin because cryptocurrency is believed to form the future, and therefore, its elimination from the economies of the different nations is next to impossible. Though 19 May 2021 is a day of correction for the cryptocurrency market investors, it is believed that the portfolios will still survive. The people who are supporting different coins like altcoins and shitcoins may have found a positive outlook now, but that would not remain for long.
Towards the end
It is not new for bitcoins to experience a fall in their price because the same has happened earlier. In 2017 also, bitcoin faced a major dip in its prices, but the bitcoin believers survived that. If you are one of the people who have survived the bitcoin price dip in 2017, it will also be a very normal phenomenon for you to experience a further dip in the price of bitcoin. This is completely normal, and things will be fine soon.
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