Adam Sharp, the co-founder of Early Investing, is unperturbed by the recent fall of Bitcoin by over 20 percent. Rather, he is calling it a normal, and expected, correction.
There have been a number of catalysts that are being pinned to the drop that saw Bitcoin tumble from a recent high of $5,000, bottoming out at just above $3,000. However, Sharp is of the opinion that it has all been one big correction.
Still a bullish market
The recent drop of Bitcoin has been reported far and wide, especially as it coincided with the news that China would be first banning ICOs, and then putting a halt on its Bitcoin exchanges. There was also the vitriol spouted from JP Morgan’s CEO Jamie Dimon.
Read it more here. Well, of course, corrections can be happening anytime with Bitcoin (and cryptocurrency for that matter) and this is the best way for the coin not to be a victim of that big bubble from popping. People believe that they have the intrinsic value intact in Bitcoin and that sooner or later the value would really rise. Right now, Bitcoin is on the rise once again and we would see how far can it go this time.
