Within a year and half, bitcoin value soared from ~$1000 to the staggering $16000 dollars. Everywhere around the world, bitcoin became the buzzword. After touching 16000 USD value, bitcoin value faltered considerably. Today the value stands somewhere around 8500 USD to the 9000 USD range. Many new-investors from many countries have almost lost their investment after this.
I think this price correction is good for the bitcoin and alt-crypto as well. Why? :
* Correction is way of setting up appropriate expectation. (what goes in up also come down)
* Bitcoin and crypto is not like your normal stock-market. Rather it is more volatile ans susceptible to market manipulations.
* People with heart for financial freedom will remain with bitcoin and or alt-crypto for sure. Gold diggers will vanish as soon as party is over.
* People understood the value of crypto more seriously.
Bitcoin has still more potential to be explored. Whatever happened with bitcoin will make it stronger.
What do you think whether this fall in value of bitcoin is good for it or not?
You have said it all, what goes up must also come down and this recent fall in the price of bitcoin and altcoin is a way to correct the price and giving people the opportunity to come onboard but those who bought bitcoin when the price was around 1700$ will see this a lost in they investment but if they truly understand the volatility in the cryptocurrencies market it will not be a new thing to them all what they need do is to continue to hold until the price rise to they expectations.