Bitcoin and the Crypto industry, in general, has taken a good beating over the past few weeks, and this seemingly will not be changing for a while. While not necessarily the best news in the world, this short-lived stable value floor we have recently reached with Bitcoin seems to be more than something we could have asked for.
Though with this news, come warnings. A well known Bitcoin businessman, Mike Novogratz spreads a message for all the crypto enthusiasts out there hoping that the good times have yet to come in the short term. According to him, the downward trend is not going to end as soon as we hope it will and to all those desperately holding on to their Bitcoins during this trend, he says not to be stupid and start selling.
Mike is also the one saying that the future of Bitcoin is more than just a little bright. A believer in the great development of Bitcoin in the future and an admirer of technology himself, Mike has been a long time bullish investor in the crypto market who has been as much a believer as the next crypto investors in the past few years. He believes that the current crypto bust is simply a natural order of things and the value of the crypto coins is going to start rising to break even points, or even beyond, given enough time.
According to the high profile Bitcoin investor, his business has enough cash to burn, so that he does not have to worry about the future for too long. However long the current crypto bust is going to last, he believes he can outlast it long enough to receive the benefits of patience. What does this mean for the average user? Currently, with the market in the shape that it is now, it might not be a good idea to keep mining. Hodl is the standard advice that has been resounding throughout the years, so maybe to those who simply hold coins and believe, it might be a good idea to hope for a better long-term, just like so many other investors are doing.
With new technological, private, institutional and political developments taking place what feels like every day we, have yet to see a positive influx value for the coins themselves. Let’s see how long this will keep. New players are about to enter the market next year, so maybe the news we are about to have, even next year, is going to be good. Some crypto traders are instead trying to become successful traders in the Forex markets to pass the time, for now.