The cryptocurrencies market is falling drastically for the past few days and today it has reached a new low value. The main reason for this fall is the panic situation happening among the investors. Even if it is a loss lots of investors are ready to sell their holdings. The fall is not only on the Bitcoin price but all on altcoins as well. Though we all know that cryptocurrencies have a very good future due to the emerging blockchain technology, people are just panic and are worried about the further decline of the prices. There are also some people who are planning to sell their holdings now and buy back when the price hits even lower than this. This is the reason why continuous selling is happening.
This is definitely not going to be the end for cryptocurrencies so, in my opinion, this is the right opportunity for new investors. There is good news all over the world about blockchain technology and cryptocurrencies. Many countries have already started exploring blockchain projects. Some of the countries have already started implementing new projects based on the blockchain. With the existing blockchains available, people have already started to develop many dapps. It is expected that in the near future there will be lots of job opportunities for new blockchain developers. Even the government is starting to recruit top developers to work on blockchain-based applications.
Is it a good opportunity to buy?
The price of cryptocurrencies is similar to that of other markets as well. It is based on supply and demand. If there are more buyers the price of a cryptocurrency will increase. If there are more sellers, the price of a cryptocurrency will fall. This is a common thing that happens globally. There was also a recent article about bitcoin becoming the decentralized common cryptocurrency for the whole world to transact. Apart from the regular fiat transactions, people might start using Bitcoins effectively in the future to solve their financial transactional needs.
In my suggestion, considering all the positive things that are happening around the world, I recommend investing in cryptocurrencies now to get a good value in the future. I know few people who invested on bitcoin a few years back and how they are today. Of course, they did not stop with bitcoin, they also explored various other cryptocurrencies as well. These people who were persistent on the crypto market are now multi-millionaires. They did not stop even after that, they have started to invest in other technology-based ICOs and blockchain based companies.
Last time when the crypto prices fell, people again fell panic and sold their holdings. Some people even quit investing in cryptocurrencies. But there were few people who were persistent and accumulated few more holdings and made a good profit out of it. The zig-zag move is happening for the past few months where Bitcoin price hits 6500 $ mark and then raises till 8000 $. Even last week the price was 8000 $. People are using this opportunity to make short-term gains.
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