‘Bitcoin Tumbles Most in More Than Two Years After Record Run’
‘Stay away from Bitcoin — it’s complete garbage’
‘Bitcoin Just Crashed’
‘Exchanges face cyberattacks’
Bitcoin price falls nearly 20% in 24 hours
A fall of 19% for bitcoin over the past 24 hours, along with a surge of volatility across all the crypto currencies, has brought out the doom merchants once more.
I actually love it when the mainstream media slams bitcoin.
It means opportunities to invest, as the masses are easily swayed by such emotive language.
Especially when most people don’t understand what these assets actually are yet.
But for those that have invested and might be feeling a tad nervous, I want to reassure you that the stories about the death of Bitcoin have been around almost as long as bitcoin itself.
There is even a website dedicated to tracking how many times Bitcoin ‘has died.’ 135 times at the latest, according to bitcoinobituraires.
Check it out for yourself when you have a moment.
The website was set up by people in the community getting sick of being told by non-experts that bitcoin ‘is a bubble’, ‘is dead’, ‘is a scam’, ‘is not real money,’ etc.
But Bitcoin and the entire crypto industry has not only survived, but thrived.
And I’m confident it will continue to do so.
Because it is developing something that is truly a big deal.
In fact, many developers see it as the way the internet was meant to be.
An ultra-low cost, highly secure, decentralised system where you are ultimately in control of your assets, your information and your privacy.
Unless you like having banks charge you fees and Facebook selling your data. And you enjoy settlement agents charging you $600 to transfer title on your house, and are happy filling out health records every time you see a new medical provider.
Then you probably also like paying accountants $2,000+ to do your company accounts, and feel good about the government’s ability to track your money. Not to mention paying $20+ every time you buy and sell a stock, or paying lawyers to complete paperwork on already-agreed transactions…..
Then sure, you won’t like bitcoin or the crypto asset industry!
Cryptocurrencies are a long term investment….
You have to treat this as a long term investment, and be willing to stand such short term volatility and mainstream negativity.
The moment the mainstream press get behind how wonderful it all is, then I fear you will have missed the boat on this once in a life time investment opportunity.
If you’re interested in learning more about Bitcoin and the potentially massive profits offered by the emerging crypto asset sector, start by going here
Contributing Editor, Money Morning