Whenever crypto markets are down, it makes sense that people would be cautious before investing. Bitcoin is particularly concerning because it has never fallen below the $5,000 this year or in the last 15 to 20 months. It has spooked many investors about the potential of bitcoin. Many professionals would say that investing in bitcoin or altcoins is just like committing a huge financial blunder. With the price hovering below $5000, any professional would be very careful before investing.
But one thing we should not forget is that the United States of America, Canada, Australia, the European Union, Finland, Belgium, the United Kingdom, Bulgaria, Germany, South Korea, Malta have accepted bitcoin or are on the verge of accepting it and there are hundreds of bitcoin trading deals going down every day on both centralized and decentralized exchanges. Even more, there are many deals happening offline. This means that for every bitcoin that’s sold, someone out there is buying it up. So the real question should be, how long will it take for bitcoin to recover and get back to its profitable price. Whatever be the case, one thing is becoming clear: the traders will play a vital role in determining if bitcoin and altcoins are rebound to profits or fall lower in price.