Bitcoin’s value has plummeted over the weekend. On Sunday, the cocktail of regulatory concerns dropped to 15% due to allegations of power outages and overexcitement that limited mining in China.
But Bitcoin bulls, big and small, saw the weekend drop as an opportunity in the short term. Crypto money enthusiasts state that they are not affected by the recent fluctuations of the digital token.
Oluwafisayo Williams, a 32-year-old doctor from Sheffield, England, said he sees the drop as a reduction. He says he started investing in cryptocurrencies earlier this year and now 100% of his investments are in digital currencies. He said he had bought Bitcoin worth 4,800 pounds ($ 6,710) and currently holds about 27,000 pounds of BTC.
“It’s just a matter of faith, if you’re not believing in Bitcoin, you can make the wrong decisions. If I wasn’t faithful in Bitcoin, I could have sold them all. ” He commented.
After a period of relative recession, Bitcoin’s value rose in October as mainstream financial companies adopted crypto. Financial advisors have started to feel more comfortable with their clients holding their crypto investments. On Monday, some money managers working for the ultra-rich were looking at the positive side of the price decline.
Christian Armbruester, founder of Blu Family Office, bought crypto for his personal account after the recent collapse and also recommended the same action for his family, other wealthy investors and clients of the London-based investment firm that manages about $ 700 million. “I also bought some Bitcoin. If you invest in cryptocurrencies, you have to risk volatility. ” He commented.
Some people, including CNBC’s Jim Cramer, decided it was time to cash out Bitcoin. The TV personality explained last week that he sold some of the Bitcoin shares, although not how much or at what price, and paid his mortgage and said, “I know people would be mad at me, but I decided to be a renegade.” said.
Bobby Console-Verma, founder of London-based tech firm 1fs Wealth, also said that he is currently exploring repurchase with a focus on cryptocurrencies outside of mainstream coins. is something ”made the comment.
As can be seen, while this decline seems to be the beginning of the end for some, it is considered as a great opportunity for some investors. So which side are you on? You can let us know your opinions in the comments section!