Although traders have sold the currency lately, most investors or more accurately, disciples have not. While they no longer have the same paper profits, they do have several victories and the prospects of more wins on the way. There are several paths or forks in Bitcoin lingo that the crypto could take. They could lead to ecstasy or ruin.
Long-term holders of Bitcoin may not be happy with the dive in the price, but many see a buying opportunity to pick up more fractions of a bitcoin each time buyers have new funds are available to do so. According to John Street Capital — not my firm in case you are curious. This is how loyal Bitcoin “zealots” are. This quote is sourced from Medium writer Tim Denning.
“(Did) you know that when Bitcoin went from $17,000 to $3000 that 86% of the people that owned it at $17,000 never sold it?”
Family companies aside, what company traded on a stock exchange could say that? Who else in the financial world commands that kind of loyalty? The answer, nobody!
A fraction of all the investors cause massive movements in the coin. Then, the financial elite and others gobble up the digital coin like raw chocolate cookie dough is after a Weight Watchers weigh-in.