Bitcoin clocked six-day highs above $9,000 over the weekend, but a long-term bull market revival may not be on the cards, yet. Having clocked a high of $9,070.64 on Saturday, prices again fell back below $8,000 briefly on Sunday before climbing again. CoinDesks's Bitcoin Price Index (BPI) was last seen at $8,772. The cryptocurrency has appreciated by 9.70 percent in the last 24 hours, as per data source CoinMarketCap. Bitcoin (BTC) is also close to 40 percent above last week's low of $5,947.40. So has the cryptocurrency bottomed out?
So far, I want to believe we have gotten to the bottom, bounced from it and waiting for a rally. With the good news and some adoptions from all over the world, as well as the level at which development would start occurring on bitcoin's protocol, I believe that we are in for a nice ride in this 2018 and only those who are confident enough to hold, then they will always reap the fruit of their patience.
Not having the ability to think long term is obviously as a result of their ignorance of the stage bitcoin can get to or simply just do not know the importance and benefit bitcoin is going to be bringing which will make it a household currency all over the world. People who know this already know and nothing can change that, which is what differentiates the true believer from someone who just wants to get rich, as the former see the bigger picture than the latter.