The five-day Thanksgiving weekend was not kind to Bitcoin, as it dropped below $4,000 for the first time this year.
Bitcoin saw a 12% decrease as its price dropped from $4,300 to $3,800. It dipped to around the $3,500 mark at one point, but has since recovered. It has bounced back to around $4,000, where it seems to be hovering.
This dip marks Bitcoin’s lowest value since September of 2017. Overall, Bitcoin’s value dropped a whopping 35% over the span of a week. This has caused some to become a bit worried about the future of Bitcoin, but many remain optimistic.
In fact, a lot of industry analysts think that now is the best time to hop aboard the Bitcoin train while the price has its foot in the bear market. Cryptocurrency is without a doubt going to be a mainstay aspect of the future of society. In fact, news has come out, that Ohio will soon accept Bitcoin as a means of paying your taxes. Bitcoin might have it rough now, but most believe it isn’t a sinking ship.
That being said, many are hoping for the world’s biggest cryptocurrency to sink below sub-$3,000 (ideally $2,500) before they buy up as much Bitcoin as possible. The cryptocurrency market is volatile, but it has a lot of potential, and Bitcoin is looking to possibly be the Apple of the Digital Age. Unless you want to end up as one of those people who tell stories of how they almost invested in Apple, you may wanna take a leap of faith with Bitcoin.
