Oh bitcoin, bitcoin, bitcoin… Why can’t you make up your mind?
It seems that after a lot of hype and a lot of excitement among enthusiasts thinking that the quick and short price bursts were a sign that bitcoin was finally, truly recovering, we are now witnessing another drop. A $10 drop, to be exact…
I am just as guilty of getting overly excited about the price increase as anybody else. I mentioned that we shouldn’t get too hyped up, that we shouldn’t become too overcome with joy and emotion, and yet that’s exactly what I did. I couldn’t help it. After weeks of witnessing and reading about bitcoin’s drop back in January of this year, I wanted nothing more than to see the digital currency make a massive rebound and jump back up to where it once was (heck, at this point I would have been happy if the price simply stayed at $300; that would have been a welcome change), but maybe things just aren’t meant to work out that way, now.
Or, maybe I’m speaking too soon once again… A $10 drop in price, while annoying, isn’t like the drop in the hundreds we witnessed at the beginning of the year. $10 is easy to recover from, and to a degree, bitcoin has managed to do so. We all remember the point when bitcoin hovered in the $170 range, but now it stands in the realm of $230. Good news, certainly, and it shows that while we may doubt it from time to time, bitcoin has the strength and the will to survive in the financial world.
So maybe this $10 drop will only last a short while. Perhaps we may see a rise again in the near future of $20, $30, maybe even $50, and all our fears will have been for nothing.
Let’s keep our fingers crossed and wait.