The reason for rise includes:
- Sudden spike in the number of investors who came in watching others investing in it due to the surge that was taking place slowly already.
- Media boost that helped Bitcoin go mainstream.
- From $1k to $20k, it surged to more than 2000%.
Now, let's talk about decline:
- Think of it as a correction because there can't remain positivity all the time, and so does negativity.
- Don't take it as a drop after the price spike, take it as a dip from the ATH, it didn't even go down 50% after rising 2000%.
There are really time for pump and dumps, and thus we see bitcoin value arises and fall , we just know that we should have stick on what we really want for that coin, whether to hold it first. i believe bitcoin will still arise no matter what, it may just take time.
What you are witnessing currently can't be compared to what you saw in early 2014 when it crashed from $1100 to $250 in no time after the pump was injected.
Things have now changed a lot because we didn't see it breaking back hard (in other words, crash) suddenly but there were reasons this time for its rise as well as fall too. It'll rise but we need to stay focused on the problems that are rising too with its adoption, else do you think it will really keep up with the demands of the market?
