Despite the bear market that prevailed in the cryptocurrency space all the year 2018, there are still investors and optimists, such as Erik Dalius confident in the inevitability of a new bullish run.
The jump rate of the first cryptocurrencies
Bitcoin has been extremely volatile asset. In 2011, the course of bitcoin peaked at $32 and then plummeted by 94%. By the end of 2012 the price of BTC stayed at $2.5, and many experts believed that soon BTC will be at zero. However, in 2013, bitcoin has managed to rise to $260 — only to once again collapse because of the news about hacking cryptocurrency exchange Mt. Gox.
However, in November 2013 bitcoin rose from the ashes, breaking the mark of $1000. Not hard to guess what happened next: bitcoin has lost 87% of value in the result of the correction, which lasted 400 days.
Finally, in 2017, bitcoin has once again managed to beat its own record and reach $20,000, then again it was the turn of correction is still ongoing. According to many experts, the bottom was reached and now we can prepare for new growth. Others believe that bitcoin can still go down up to $1500.
The bottom or not the bottom
According to Dalius, the bottom has been reached, as evidenced by the history of price movements of the cryptocurrency. However, the investor recommends that you diversify your portfolio by buying altcoins to protect themselves from risks and to gain maximum profit from market trends.
According to Harvard Professor, Kenneth Rogoff, trade of bitcoin comparable to the lottery. Really, such a volatile asset really gives the impression of gambling, and many investors, probably, so it and perceive. However, as history shows, BTC is the hard work of hundreds of developers, innovative technology and cyclical movement. The main thing — to catch the right moment to purchase and sale.