A Foolish Take: The Bull’s Argument for Bitcoin

The past year has been brutal for the cryptocurrency industry. After carrying surfaced out nearby $20,000 in Dec 2017, bitcoin has seen the cost tumble more than 80% from the highs. Other vital cryptocurrencies, including sputter and ethereum, have seen even bigger declines over the same time frame.

The tumble of bitcoin and the peers have led some to interpretation that crypto-investing is dead. Indeed, many trend-following investors have incited to other investing themes, such as marijuana stocks, as an alternative.

Yet advocates for bitcoin will note that the cryptocurrency has seen mixed pullbacks of this bulk before. Each time, doubtful investors left the attention for passed — and each time, it climbed to new highs that many would have suspicion were unfit to reach.

It’s easier to see this when you look at how crypto prices have changed since the low point of the prior cost cycle. The draft next gives you a better clarity of the earnings that long-term investors in bitcoin and other tokens have seen.

Data source: Coinmarketcap.com. Chart by author.

Obviously, there’s no certainty that bitcoin will be means to arise from the remains this time around. Yet if story is any guide, cryptocurrencies positively have the potential to rebound back. Those who still disciple for the value of crypto-token record see copiousness of good prospects for the marketplace — and they’re confident that prices will not only lapse to their early 2018 levels, but obscure them in time.

Article source: https://www.fool.com/investing/2019/02/11/a-foolish-take-the-bulls-argument-for-bitcoin.aspx

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