Will Bitcoin Recover: Bitcoin and other cryptocurrencies are struggling to keep momentum. Current performance of bitcoin is not according to what experts and bitcoin enthusiasts expected for Q4 2018. As it is facing high volatility and dips continuously. Many experts and enthusiast are thinking that will bitcoin recover from bear market ever, and surge again like in 2017.
Bitcoin (BTC) Price Today – BTC / USD
Bitcoin Cash (BCH)
Bitcoin Gold (BTG)
High Volatility Can Cause Positive Impact On Bitcoin Price in Long-term
History of bitcoin shows that the drop in volume and high volatility of bitcoin cause negative impact on current price trend of BTC in the short-term, and then get the chance of high rallies upward. For example, If we go back to 2012, when bitcoin was facing similar low price trend, and get stable at certain range, then it jumped from $30 to $1000 by the end of 2013.
Will Bitcoin Recover? Experts’ Analysis
Erik Voorhees, a Shapeshift CEO, said that the bear market of most cryptocurrencies including bitcoin is getting near to an end. He further stated:
“I don’t expect it to end soon, although I do think that the rate of collapse has slowed considerably. Generally in these bubbles, after you go through several months of a downtrend, you hang out in a range for a while […] But I think we are done with a majority of the collapse.”
Garry Tan, the popular VC investor of Coinbase and several other startups, stated that low price ranging helps investors to enter new market with having less risk factor. He further said:
“The crypto winter generally makes it safer for super-long-term oriented Yale-model institutions to enter at a price that isn’t dangerous. You know what is scary? Investing and then immediately seeing an 80% drop. That is hard to recover from.”
Nick Spanos, the Zag.org founder, said:
“Bitcoin has a stellar year ahead . No matter how low bitcoin went in the past, it always climbed back at least a few times stronger.”
Future of Bitcoin (BTC)
Many experts are optimistic about bitcoin that it has been stable for last several months at the range between $6200 and $6600, while nearly touching the $8000 market twice in between; they think it is better for bitcoin to run in same trend for some time, because it will be beneficial for the bitcoin in a long-term.
As The Oofy Reported earlier Bitcoin Price Prediction 2018: Is Bitcoin Going Through Gradual Recovery?.