What is the future of bitcoin price? The simple answer is that we just don’t know, and predictions will always be hard to make. Currently, bitcoin is hovering at around $217, another drop now placed in the books. It’s depressing, of course, especially because there are so many of us that continue to have hope in bitcoin and think it will eventually jump back up, but so far this idea has been neglected.
What’s particularly annoying is the fact that last week bitcoin price was hovering at around $230, and then $255 before that, and then $265 before that. Price rose to above $300 following the launch of Coinbase’s Lunar Exchange, but excitement regarding this news waned pretty quickly, and the price of the currency has basically been on a downward spiral since then.
But we have often heard the phrase, “something has value because people think it has value,” and we saw this through the Coinbase example, so why don’t we all learn from this incident? Let’s look at things this way… Bitcoin cannot grow in size and power unless we back it up. When a king has risen to the top and commands an army with a strong and effective hand, it is only because his soldiers have faith in his wisdom and abilities as a leader. If his army doubted him in any way, it wouldn’t matter how personally strong he was. The battle would soon be over. The soldiers would be hesitant to fight, and in battle, hesitation often results in death or injury.
So let’s have a similar attitude towards bitcoin. Let’s not lose faith just yet simply because of a few fluctuations in bitcoin price. The value is there but we do not believe in it enough, and because we don’t fully believe it, we aren’t able to see it. It’s time to put our glasses on and see the wonders that bitcoin truly has to offer. Only then can it grow and deliver on its promises.
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