The recent crash in prices of cryptocurrency has definitely rattled Crypto enthusiasts, this price drop is significant because bitcoin was trading at a peak of 19650$ in December 2017. Many analysts believe this drop started when SEC denied Money management firm Van eck for a Bitcoin exchange traded fund, another reason what many point out is the massive funding in ethereum based coins but now see no incentive in holding them as they feel the broad market interest in them has started to decline, but let us take a step back and take a look at the bigger picture of why Cryptocurrency is here to stay and the recent crash will not make much of of a difference if you are here to play the long term game.
This is not the first time that the Crypto market has crashed and definitely will not be the final one. Last year too the prices did drop and were minor in nature what serious investors need to do is focus on the product and not get fixated on the price of coins, just because the price dropped it does not mean that the coin is broken, it is still working and growing day by day, obviously it will take time for everyone to start using it like cash or credit card, for that happen one needs to be a HODL-er and not jump ship during a Choppy Market.
We have good number of reasons to back why Crypto is a good long term investment like it has little or no correlation to traditional assets like stocks and bonds which makes it a preferable choice for any portfolio. Many experienced traders know that volatility leads to great returns if volatility is seized at the right time. one of the biggest advantage Cryptocurrency offers is INDEPENDENCE from National currencies whose fiat money can plummet to upside down world at any moment, in conclusion all the pointers lead to one thing that if you are investing in them for longer term then the prospects are much brighter and no amount of bloodshed will kill this prospering New age Digital Currency.
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