In the last week, Bitcoin (BTC) has experienced its largest sell-off that it has ever seen, in terms of USD value.
The world’s top cryptocurrency had a crash of around 50 percent, shedding $70 billion of its market cap in a short 24 hours.
This did not come as a surprise to many though, who regularly watch the price trends of BTC. Top analysts have been predicting the crash for some time, amidst the BTC halving event, which is expected to happen in May this year.
However, even with the price of BTC drastically low, there is optimism for Bitcoin miners, and so there should be.
The 3 Positives
BTC Holders Remain Highly Positive
If you are HODLing your mined BTC’s, and are involved in an investment mining service, then you have no reason to fear the prices going down.
With the prices lower, on a mining service, you actually receive more BTC than you would if the price were high. This means you are still mining BTC, and when the price does skyrocket again, which analysts strongly predict it will, then you have acquired more coins to sell.
HODL your mined coins, and you will be highly rewarded in the very near future.
Beginners Can Enter Into BTC At A Lower Price
If you have been tossing up whether or not to enter into the Bitcoin realm, now is the perfect time to do so, while to price is down.
Having more newcomers enter into the market, means confidence in BTC will grow.
You may have got fear of missing out (FOMO) last time you missed out on the major Bull Run, when BTC hit record highs of $20,000 USD towards the end of 2017.
Don’t get FOMO again this time around.
A Large Number Of Small Holders
With more and more people entering into the BTC scene, especially now whilst the price is low, this means that the likelihood of a catastrophic sell-off will occur in the future.
This also gives Bitcoin the opportunity to build on it’s new support level.
You would rather see a large number of small holders of BTC, than a small number of large holders of the cryptocurrency.
The Price Will Change Soon
With the mining difficulty still increasing, the price down low and the BTC halving event only just around the corner in 57 days, this means that any BTC’s entering the market will be entering at a much higher rate than the current price. This is due to them (the new coins) having a much higher production cost.
This is more than likely to trigger one of the notable bull runs that we have ever seen.
While it is expected this could take up to a year for the next extreme bull run to occur, the prices are expected to not stay low for much longer.