This year is a special year for bitcoin, statistics show that in the second quarter of 2018 bitcoin prices ended with a discount of about 8% for the first time in history. All of the previous years have shown bitcoin growth in the second quarter. Do you think this is a bad sign of a long-term downturn of bitcoin or do you still believe in a strong rebound in bitcoin prices? at the end of the year.
I don't think that the fact that bitcoin has not increased in value in the 2nd quarter is really anything to be alarmed of, because we are after all, in a bear market. And I'm pretty sure that we've seen similar bearish circumstances in 2014's bear market.
It's not going to affect bitcoin in the long run, it's not going to affect adoption. A lot of people tend to panic about the price movements in the short run and think that it's going to influence bitcoin's success in the long term, which I just don't think is true.
Is it necessarily true that bitcoin is going to see a recovery by the end of the year, though? I don't think it's guaranteed at this point. Based on the last bear market which lasted one to one and a half years or so before it bottomed, we may see further dips come our way before the end of the year. I'm much more confident that bitcoin will start its recovery some time mid to late next year, and a bull market coming near 2020, rather than saying that it's going to come before the end of the year.
This year is very bad for bitcoin so far because the price dipped about $14000 and thousands of investors lost their money. Now they are waiting for increase in the price so that they would be able to recover their deficits. They will have to wait for long time because the price is still below $7000 and it will take to regain its previous peak. For new investors it is best time for investment.