hello all !

Bitcoin price has tanked by around 30% from its all time high. Many people are wondering whether the recent tumble signals the downfall of bitcoin and finally the skeptics got it right. So is this the doomsday scenario that many had been waiting for?

Well, i must say, its not. In light of my experience in financial analysis, US stock market always sees a downfall at the year end. This plunge is described by year end selling. This because people tend to cash out at the year end to pay for Christmas and New Years. 

At this time, one should hold his or her stakes and that is the right thing to do since the price is all set to go up again next year. I expect further price surge as Japan has started to accept bitcoins as payments and the US has endorsed Bitcoin Futures. Moreover, Dubai has recently announced that it would pave way to build infrastructure backed by blockchain by 2020.  

Once should also take care that many commentators who advocate for price plunge must have shorted cryptos. When i used to cover tech stocks, all that time i observed that Twitter shares rose on a potential buyout speculation only to tumble down the next day based on the news turning out to be a rumor. 

This was my input for the day.

Thanks.

Happy Investing!!!