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Very recently (5th Feb 2018) Bitcoin has taken a dramatic plummet towards its main resistance of $6500. This is a totally normal and in fact healthy correction and we can hence expect it to climb in the coming days. Tron has also taken a sharp downward turn following bitcoin but once again , I just see this as a chance to load up and wait for the climb back up to Bitcoin’s $20000.
It is extremely clear to see that when Bitcoin’s value falls , it bounces back far stronger then before as demonstrated:
94% June-November 2011 from $32 to $236% June 2012 from $7 to $479% April 2013 from $266 to $5487% from $1166 to $170 Nov 2013 to Jan 201540% Sept 2017 from $5k to $297255% Jan 2018 from $19000 to 8500
We can see that the value of bitcoin is increasing exponentially. With Bitcoin gaining an every increasing following and use cases , it is totally reasonable to see a further huge exponential increase in the value of Bitcoin. It is no lie that all other alt coins follow Bitcoin and hence this exponential increase will drag the entire market along with it. Obviously some coins will perform better than others depending on the markets movement , but I would assume the minimum increase you can expect from all of your coins is x10.
Eric Benz, managing partner of CryptoFriends, a group of crypto professionals said: “We have seen an incredible growth in all things blockchain and Crypto for the past five years now. The crypto revolution is seriously hitting its stride and there is simply no predicting just how big this emerging industry and ecosystem will be.
Bitcoin is now tested and proven to the market: more importantly, people now separate the Blockchain’s incredible abilities from outside issues, so bitcoin is gaining more solid confidence from users and outsiders as this understanding improves. These perceived downsides are being taken care of, while the upside for bitcoin is virtually limitless.
Anyone invested currently is in the “Early adopters phase” so I assume if you are reading this article you already are invested in a cryptocurrency. So to conclude , enjoy your 2018 and I personally can’t wait to see the market boom this year!
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.