Is Bitcoin (BTC) Doomsday Near?

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Bitcoin (BTC) has taken quite a hit the last couple of days. The cryptocurrency was nearing a ticker price of 12,000 USD on Monday when the sell-off began. The price quickly dropped and is trading below 9,000 USD at the time of this writing.

Is this weeks news really any 'different'?

The week has been full of FUD, with news of incoming SEC regulations, Binance's issues with scammers, and least of all the Mt. GOX problem. Of course, many are hailing this as "THE END OF BTC!!!". Sounds scary, but isn't this the same song and dance we have been through many times before? Bitcoin rises and then has a sharp drop and calls of "scam!" can be heard ringing throughout the internet. Message boards light up with delighted bears and that buddy of yours who is always telling you so just "told you so", despite his declaration of hatred toward doing it. Then, a week or so later that all changes, bitcoin is on the rise again, FOMO triggers, and the bulls celebrate, until the trend changes yet again...

Speaking of trend changes, we could see one soon. It isn't all bad news for Bitcoin (BTC) right now. Circle Invest is about to start its live beta, Robinhood is rolling out its crypto trading functions, and US regulators assure investors they don't want to destroy bitcoin. The reality is cryptocurrency is just becoming more accepted and integrated into society. Right now, crypto is more accessible than it's ever been and there are ups and downs to this. BTC may be trading down today, but the way I see it the potential upside in the long term outweighs the current short-term risk. The end of Bitcoin (BTC) has come and gone quite a few times now and this doesn't seem that much different than before. 

Disclosure:

I have received no additional compensation other than the Ethereum that Hade Technologies pays to produce Exclusive content

Comments (2)

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I think this is a great buying opportunity and look to add to my position Monday. Long $BTC.X

   0   Reply (0)   Follow(437)  

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    • Sammy
    • ,  Contributor
    • 10 March 2018, 02:03 pm

    I think the cover pic says it all, when this bubble burst, look out!

       0   Reply (0)   Follow(437)  

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