The Bitcoin Bubble Hasn’t Burst!
Well, the value of Bitcoin did take something of a downturn yesterday, which is to be expected with any cryptocurrency, but what followed was a media feeding frenzy that in turn led to a herd mentality of new investors in that currency making a stampede to sell their Bitcoin holdings.
In my opinion the supposed Bitcoin bubble has certainly not burst, but what the mass selling of that digital currency has proven, is that there are many people out there buying it that should not be making investments in cryptocurrencies!
As the only way you can value Bitcoin is by the demand for it, if people who have purchased small quantities of it are fed nonsense by the mainstream media about how it has crashed like some form of stock market crash, then you are bound to see many people opting to sell it.
Even though more and more people are buying Bitcoin, not many of them fully understand exactly what it is, in fact some on the most Googled terms and phrases include what is Bitcoin, how to buy Bitcoin and is Bitcoin a safe investment.
If you are about to, are thinking of or even have very recently started investing in Bitcoin, then please keep a level head, and keep in mind that any people are down talking it and you may be misled into thinking it is something you should not touch, buy or invest in, when the opposite is true.
Bitcoin is a Long Term Investment
One thing I would like you to consider doing is to look at Bitcoin as something of a long term investment, that way you can buy a holding of that digital currency with complete peace of mind and not be frightened into selling it when you do hear all kind of nonsense about how it has crashed in value or how everyone is selling their holding.
In fact, due to the mass selling of Bitcoin in the last 24 hours that may be the ideal time to buy a holding of Bitcoin, for you will be paying considerably less for it than you would have done a few days ago.
Another thing you should try and do is learn what exactly Bitcoin is, and try and get your head around the mining process, as that way you will see and understand that there are not vast new quantities of it entering the market place, and it is supply and demand that is going to be the only way Bitcoin can be truly valued.
Also look at the people who are singing the phrases of Bitcoin Max Kesier for example is of the mind cryptocurrencies are here to stay and are not going to fall by the way side, and even Sir Richard Branson has stated that if anyone wants to pay for a ticket on his Virgin Galactic spaceship into space then they are able to pay for their ticket using Bitcoin.
Those two people and the many others who have embraced Bitcoin have a solid track record of no nonsense investing, and are not biased towards it in any way, so their opinions can be more trusted that those bankers out there who are fearful of Bitcoin.
Consider Using Bitcoin Rather than Selling It
When there is a mad panic selling Bitcoin many digital currencies exchanges are overwhelmed and can experience a meltdown, which is turn has seen very recently many exchanges having to shut down for a short people of time.
What you should consider doing is instead of selling Bitcoin, use it as you would any other type of currency, so if you are going shopping or paying for goods and services and you want to sell your Bitcoin to pay for those goods or services, forget about doing so and simply use your Bitcoin wallet to pay.
By doing so you are going to then avoid the ridiculous fees and charges that exchanges force you to pay for selling any quantity of Bitcoin.
In fact, over time as more and more places, venues and companies start to accept Bitcoin I doubt we are going to see the crazy swings in regards to the value of Bitcoin that we have done recently, as people will be more inclined to spend Bitcoin on goods and services, and not simply look at it as something to invest in and then sell to try and lock in a profit.