For the first time in a fortnight, bitcoin has managed to creep above the $4,000-margin. As of writing, the king of all cryptos is traded at $4,031 and is showing a 7.25% growth, as per coinmarketcap.com data. The highest on December 20 was the peak of $4,191.
The last time before the slight surge bitcoin was $4,000 on December 4. The coin lost 80% of its value since last year’s $19,400 record. There were ups and downs throughout 2018, but the bitcoiners’ nightmare started in mid-November when bitcoin dropped below relatively comfortable $6,000. It had barely rebounded since then, up until the first anniversary since its record.
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Investment Opportunity or Lost Hope?
As CNBC reports, Charles Hayter, the top exec of CryptoCompare, said the recent dip of bitcoin was a «buying opportunity.»
Notably, he is not the only expert who holds such an opinion. Earlier Spencer Bogart, Blockchain Capital Partner, called the fall a «fantastic buying opportunity» after Weiss Rating referred to the time when bitcoin was below $4,000 as to the best time to pile in BTC.
Ex-Goldman Sachs partner Mike Novogratz opined bitcoin was unlikely to fall «too much» again. However, some people see no hope in the coin. Erik Finman, a teen crypto-millionaire has recently claimed bitcoin is «dead» in a long-run. Meantime, Harvard professor of economics Keneth Rogoff said that in the future bitcoin is more likely to be worth $100 than $100,000. He also labelled it a «lottery ticket.»
Will bitcoin fully recover or not, the time will tell but what is clear right now is that bitcoin will never make us bored.
