asked in Business+Finance by ELITE (3,548 points) 3 7 11
Since this year 2018, Bitcoin has been very unstable with its volatility going up and down and recently it nosedived to $3k from $6k per Bitcoin.

With this current trend, do you still have hope in Bitcoin? What would happen to those who invested in Bitcoin when it was $10k per bitcoin and now it's $3k? 

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3 Answers

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answered by ELITE (3,642 points) 6 8 14
I really don't support with the virtual currency, of course it will happen. Even our actual currency in the market is going up and down every second, it will also happen to Bitcoin and other virtual currency online. At the very beginning it was high on demand and expensive, because it first came out in the market and people will buy it because the rate is high. But they don't realized time will come and there are more investors will come the rate will of course go down. I don't really trust the virtual currency like bitcoin. I always have doubt with this ever since. You better invest your gained money from hard work to the right business. Virtual is always virtual, only those who invented it will get rich and not those who invested hoping they will get rich or their money will double or triple in real time.
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answered by ELITE (3,008 points) 2 6 13
Bitcoin has been a fluctuating currency since the year 2018 , it has always had an increase since it was launched in 2009 but the rise in price was more noticeable in 2017 when it rise as high as $19800 and later stopped gradually to were it is at the moment which is around $4181. In the first to third quarter of 2018 the price was dangling between $5800 - $7000 which to me is not bad for a trading coin like bitcoin.
I still have hope in bitcoin to an extent because the total amount of bitcoin projected to exist is 21 million bitcoin and already 16.7 millions bitcoin are already in circulation,  which shows that people are continuously mining bitcoin and also investing in it which makes me feel it has future but the challenge is that when it is fully mined and none is left it will become expensive.
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answered by ELITE (3,005 points) 3 10 14
There are two ways to take a look at what is happening in the world of cryptocurrency and they are when we look at the bitcoin being the top of the chart when we talk about coins, then it means that we shouldn't be thinking of losing hope on it as long as we have some part of it. There is always high chances that the value of the coin is going to appreciate in the near weeks despite what is actually happening at the moment.

This is something that we should always have in mind as there were times that we saw the BTC get into this kind of low price and depreciation, but later started rising. If you are a trader, this is the best time for you to be buying as the value will increase in the near future. However, I will advise those that don't understand how the market works to hold fire now.

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