Even though the year 2018 has not been all that great for Bitcoin and other cryptocurrencies, the demand for these new assets is not slowing down in the slightest. In fact, investors have shown a renewed interest in cryptocurrency as of late, which further confirms that this industry will continue to grow for quite some time.
INVESTOR INTEREST IN BITCOIN IS SPIKING
A falling Bitcoin price can mean many different things. To the untrained eye, it seems as if investors are losing interest in cryptocurrency once again, even though this current value decline also introduces a lot of new buying opportunities. If Forbes is to be believed, investors’ interest in Bitcoin is not slowing down in the slightest, although it is not reflected in the market just yet.
Everyone knows the cryptocurrency markets are prone to volatility. That has been the case for over nine years now and probably will continue to be the case for many years to come. It is this volatility which attracts positive attention from investors, as they see a lot of opportunities to make money.
Even though the Bitcoin price is certainly on the decline as of right now, there is no reason to panic just yet. A lower Bitcoin price will eventually attract a lot of new investors at some point. After all, many people feel they missed the boat when Bitcoin hit $19,000 late last year, and they are now getting the opportunity to buy in at a lower price.
To some people, it makes no sense whatsoever that anyone would invest in Bitcoin while the price is clearly dropping. Judging from past charts, the Bitcoin price often undergoes large corrections and ultimately comes out on top by setting new all-time highs. If that pattern were to repeat itself, we could very well see Bitcoin hit $20,000 or slightly more this year.
Investors are taking note of the opportunities presented to them. New investors are flocking to cryptocurrency as of right now, partially because all other major financial markets and investment options are also on the decline. The Dow Jones and S&P 500 have taken quite the beating throughout 2018, further confirming that this downtrend has affected all markets in the same manner.
It is evident the future of Bitcoin doesn’t look as grim as some people may want you to believe. To be sure, there is a lot of bearish pressure on the market right now, but it will subside eventually. Whether or not that will happen soon or take multiple months remains to be seen. However, Bitcoin is a very resilient currency, and it will not be going away anytime soon. A rough start to the year means nothing when looking at the bigger picture.