The recent downturn of bitcoin price has several people worried. Many mining operations have ceased activity, saying they will no longer engage until the price rebounds. Politicians and businesses alike are warning listeners to stay away from bitcoin due to the endless price fluctuations, and overall the power of the haters has become a little stronger than we’d all like.
Thus far, most of us are concentrating on the negatives, but is it actually possible that maybe the bitcoin price drop could be a good thing? When we look between the lines, is it possible that there is actually a shred of positivity hidden deep within the heavy layers of concern?
Some believe so. Internet entrepreneurs Cameron and Tyler Winklevoss for example, who have served as two of bitcoin’s earliest advocates claim that if there was ever a time to invest, it’s now. The price is low, and when the price is that low, what have you got to lose? Something that low is bound to move back up eventually, and ultimately any investor is likely to produce a heavy dose of income.
Recently, the Bitcoin Shop looked at the price drop as an opportunity to invest $100,000 in Coin Outlet, which already serves as one of the Shop’s partners. What is their reasoning behind the investment? As the price is low, maybe now people will feel more compelled to delve into bitcoin and related cryptocurrencies:
“This is a great step to encourage the use of digital currencies among consumers who have yet to experience the easy exchange of US dollars to bitcoins.”
Can the bitcoin price drop yield any other positive results? Post your comments and ideas below!
Images from Creative Commons