The fate of Bitcoin can't be determined

over 2 years ago

Bitcoin, the king of cryptocurrency is at the verge of collapsing or should I say that it has changed so many people's plans as it stands now. The sudden decrease from $20k plus to $17k plus is totally way out of it. Many people have lost their hopes especially those who invested when it was $19k-20k, believing that it will rise again to $40k or probably get a 10% profit from their investment.

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I was discussing with a friend this evening concerning the sudden rate of Bitcoin and how risky it will be if anyone should invest now since the rate has been reduced, at least those who have always wanted to invest but can't due to the high rate can do so now. His advice to me was that Bitcoin can't be predicted as it stands, he gave me example using himself on how he invested when it was $19k thinking he will get the profit in no due time but instead, he was the one at lost. Although I understand that investing in any cryptocurrency now can be risky, you can either profit within a short period of time or it might take a very long time to get a profit from your investment. As it stands now, he's at lost since the coin decreased but on the other hand, he can still get his profit back when the rate increases which might probably take a longer time or shorter, you never can .

Those that started investing when Bitcoin came into existence will definitely testify how well they have benefited from it. I'm not that good at prediction, but I'm certain and I believe that Bitcoin will rise again, the only thing now is that I don't know how low it will have to go before getting back to how it used to be. Since the coin is currently at $17k plus, I hope it doesn't get lower than this and if so, I hope it doesn't take a longer time before bouncing back to it original price which is $40-50k.