Bitcoin is currently hovering at around $220.
Recently, the question was asked whether or not a recent drop to $215 was the lowest we’ll see. Many of us would certainly like to believe so, but if there is anything that bitcoin has taught us, it’s that we can never be too sure, and more than anything we should never get too comfortable as it’s nearly impossible to predict specifically what’s going to happen next.
The massive price drops over the last several weeks have continued to affect a great number of enthusiasts, and right when we all thought that things couldn’t get any worse, they sometimes did. Back in January we witnessed prices floating through the $100 range, and that scared a lot of people. The price has since rebounded and jumped into the low 200s, and while this news can indeed be celebrated, it’s still not enough. Many of us know that bitcoin can do better. Furthermore, many of us want it to do better.
So was $215 the ultimate low point in recent weeks? We don’t know. It is absol
utely imperative that we stay alert and not get too cozy with the idea that bitcoin could at least stay where it is and not drop even further. With the recent news regarding MyCoin and China’s cautionary words towards digital currencies, things could take another nasty turn. This isn’t for sure, but we must be prepared. A large country like China with a massive economy (and at one point, heavy on bitcoin integration) speaking against bitcoin is likely to bear consequences in one way or another…
The best advice? Live each day as it comes. Don’t worry about the price drop, but don’t fantasize about a price increase. There’s no way to really know what will happen, and dealing with things as they come just might be the healthiest and most stress-free thing we can do for ourselves.
