Bitcoin is already shrugging off the price dip caused by China’s ban on all exchanges and ICO’s. It did not take long for Bitcoin’s price to rebound; the end of the month saw the digital currency reach $4,000 once again. Despite all detractors crying “bubble” and “fraud” Bitcoin continues to grow in price and global adoption. To early adopters and veteran investors, the pattern of dip and recovery is a familiar one and hardly warrants the sensational headlines. They know that Bitcoin is on a path to greatness and the volatile price is merely part of the journey.
“Nobody can stop [Bitcoin] because nobody can control it. The idea that the government can put curbs on this is actually pretty specious.” – Venture capitalist and Facebook millionaire Chamath Palihapitiya
In fact, Bitcoin not only recovers from price dips, but it does so at an incredible rate. Since the September 22 price drop, the price rebounded up to $3,500 and then up to $4,430 in the span of two weeks. The market cap of bitcoin has increased from $59 billion to $73 billion, as its daily trading volume surpassed the $1.2 billion mark once again. Every sell off of Bitcoin has created an even greater recovery.
Take a look at our latest graphic illustrating how Bitcoin recovers from every fear-based sell-off and continues to grow.
Every price dip is a chance to invest and maximize gains. Ready to get started?