Bitcoin Suffers Its Greatest Decline In Almost A Decade
We’re all currently desperate to be shouting “Bitcoin to the moon” once again and to escape the current bear market, which is making these times a scary one for the cryptocurrency industry.
As many coins experience massive dips, Bitcoin is not being left out. Bitcoin’s decline has been on a spiral since it last hit its highest ever price of about $69,000 in November 2021. Bitcoin’s current decline is the largest it has ever suffered since the beginning of 2012.
While some still believe that this might be the best time to buy Bitcoin, some seem to be losing hope in it gradually, and some have even predicted that a “crypto winter” might be on its way.
How Low Can Bitcoin Go?
There are speculations and predictions about how far Bitcoin could dip and how well it might do this year.
Will this “crypto winter” also affect Bitcoin massively? Some expect Bitcoin to have a massive dip in the coming months, only to rise later to about $100,000 by the end of 2022. Some others predict that Bitcoin will see a crash as low as $10,000 by the end of 2022.
Either way, judging by Bitcoin’s steady growth over the years, it is unlikely that the coin will not recover from its dip. Although the current dip the crypto world is experiencing is one of the worst it has seen in a while, Bitcoin’s stability over the years proves that a surge in its price in the coming months is possible.
What Should You Do About Bitcoin’s Dip?
The cryptocurrency world is generally a risky one and price dips are nothing new. While some may decide to exit the market because of massive dips, others may decide to stay back.
If you’re not new to cryptocurrency then you know how volatile the market can be, so you know what exactly to do, get comfortable with it.
Times when there are massive dips in the market might be the best time to acquire more coins. It is safe, however, to make sure that whatever you decide to invest in coins, generally, is something you’d be willing to lose.
Will the World of Cryptocurrency Come to an End?
Bitcoin might be experiencing something similar to what happened in its past. Following Bitcoin’s massive dip in 2018, there were fears about the world of cryptocurrency and how it might come to an end.
The truth, however, is that as the world becomes increasingly more digital, digital currencies are here to stay.
Bitcoin’s dip will only prove that investing in cryptocurrencies should only take a percentage of your money that you can give up. While bitcoin has the potential to gain a lot of money, it also has the potential to lose everything.