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?
It's true it does not stop because there's a lot of potential in bitcoin that in time we find a bright spot, this is a correction which for me is good not in terms of liking the decline, this is good for bitcoin development itself and the investors to be more careful and meticulous in bitcoin , where bitcoin invests a bit dangerously can lose all the money you have, but this happens because of the massive bitcoin sales where prices are above and experiencing a very high decline, people continue to cycle like that.