While some of us are aware that BItcoin suddenly took a huge dip from a stable $6400 to a shocking $5400 dip late this week. A total opposite of what had transpired last year of fourth quarter where bitcoin skyrocketted its value to almost $18000. Many are left wondering what is happening to bitcoin or will it be the end for the coinn what do you think about the current situation?
I see this as a natural continuation of what happened in the last year, many people thought that after the bull market that we saw the market will keep skyrocketing and that is simply impossible, if the bull market that we saw in the last year was incredible it was completely natural that the next bear market that we were going to see was going to be unbelievable as well, and even as I knew this I have problems to accept the bear market that we are seeing.
But this is not something to be worried about, bitcoin itself is still as good as it can be, what we are seeing is a huge decrease in the demand of bitcoin, and if people do not want to buy bitcoin then it is completely natural that the price goes down as a result of that.