Is bitcoin good for the long term?

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Many investors have been shocked and indeed out of pocket by the volatility of the Crypto currency market which has seen bitcoin tumble around 60 percent from its December high of $17,000.

Such volatility has the potential to attract a wide range of investors as well as scare away the more conservative one’s who are not used to such movements and prefer to park their money in investments that allow them to sleep at night.

The Jury is still out on the value of Crypto currencies including Bitcoin and depending on who you ask, the price could be headed as high as $100,000 or it is nothing more than a scam and an body who invests in the Cryptos is bound to lose all their money.

If we look at the market now, there are a lot more choices with regards to Crypto currencies and some of these are even more volatile than bitcoin and if there is indeed a shakeup in the sector, these smaller Cryptos are likely the first ones that will go out of Business.

With that thought in mind, Bitcoin may be here to save the day and investors may be just waiting for the wild swings to stop before the re-enter the market

 “The crypto market and Bitcoin are still in an early period of development. We already witnessed a couple of huge corrections and we believe more is yet to come before the market becomes mature”. Said  Vladislav Shabanov, a managing partner at crypto hedge fund WhitePark Capital

“ During downtrends, altcoins tend to lose far more in percentage than Bitcoin; it’s rational to convert alt savings into Bitcoin to save the capital. Later, when [the market] recovery phase starts, investors will begin allocating their capital back into projects that they believe have potential.” He added.

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