Bitcoin’s price has corrected by as much as 53% from the 2019 high of $13,880. Investor sentiment has turned extremely bearish. A few weeks ago, the idea of bitcoin trading at $5,000 was unthinkable. Today, many are calling for $5,000 to be the bottom of this downtrend.
Regardless of whether the bottom is at $7,000 or $5,000, it shouldn’t make any difference to hardcore HODLers. We talked to prominent traders and they agree: It’s very likely that bitcoin will continue to rise in the long-term. Don’t get shaken out.
Bitcoin is the most scarce currency on this planet. According to Mati Greenspan, founder of Quantum Economics, this reason should give you confidence that the dominant cryptocurrency will likely rise in the long-term.